WWE Launches Undertaker NFTs With Extra Perks: What Investors And Wrestling Fans Should Know
Ahead of WrestleMania 37, World Wrestling Entertainment Inc (NYSE:WWE) has announced the launch of its first NFTs. The NFTs center around one of their most iconic wrestlers and come with some exclusive perks.
What Happened: World Wrestling Entertainment will launch four non-fungible tokens in tiers beginning Saturday at 10:30 a.m. ET. All four of the NFTs will feature the iconic wrestler The Undertaker.
Why It’s Important: World Wrestling Entertainment owns its content and could quickly become an NFT play if this first launch is successful.
The NBA partnered with Dapper Labs to create NBA Top Shot, which features NFTs sold in packs that can be bought and sold on a marketplace. WWE could launch a similar platform or choose to do drops around their events to drive traffic and interest.
WrestleMania 37 takes place April 10-11 at Raymond James Stadium in Tampa Bay, Florida. The event will stream exclusively on Comcast Corp's (NASDAQ:CMCSA) Peacock network in the U.S. and the WWE Network everywhere else.
Related Link: DraftKings Steps Into The Ring With WWE
Here is a look at the WWE NFTs and what winning bidders will receive:
- Platinum (1 of 1): The NFT includes a one-of-a-kind digital collectible of The Undertaker highlighting his career. The winning bidder will receive two front row tickets to WrestleMania 38 or WrestleMania 39, VIP access and hotel accommodations. A personalized video message from The Undertaker and an urn used by Paul Bearer and The Undertaker signed by the wrestler. The winning bidder will also receive a WWE Championship Title Belt with the winner’s name engraved. The opening bid for the NFT is $10,000.
- Gold (1 of 1): A one-of-a-kind NFT featuring The Undertaker will go to the winning bidder of the Gold package. Two front row seats to a Monday Night Raw or Friday Night Smackdown of their choice in 2021 or 2022 will be included in the package. The NFT winning bidder will also receive a personalized video message from The Undertaker and a signed Undertaker Legacy Championship Title Belt. The opening bid on the NFT is $5,000.
- Silver (1 of 37): The third WWE NFT offering highlighting The Undertaker will launch with editions 1-18 dropping Saturday at 4:30 p.m. ET and editions 19-37 dropping Sunday at 4:30 p.m. ET. The NFTs will feature The Undertaker. Winning bidders will also receive a pair of side plates for a WWE Championship Title Belt signed by The Undertaker. The NFTs will sell at a fixed price of $1,000.
- Bronze: Two 15 minute drops will take place directly before the start of WrestleMania 37 on both Saturday night and Sunday night from 7:45 p.m. ET to 8:00 p.m. ET. The limited-time WWE NFTs will be sold at a fixed price of $100 and will only be available to purchase in the 15-minute windows.
- Fans can purchase or bid on the respective WWE NFTs at wwe.com/NFT.
WWE Price Action: Shares of World Wrestling Entertainment are trading flat at $56.09. The stock has a 52-week range of $35.44 to $61.32.
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