FOX Entertainment and WWE Ink Miral Treaty for Sales Exclusive NFTS - Blockchain

Almost every industry under the sun has started not to notice fungal token (NFT) technology, and on Wednesday the media and entertainment company World Wrestling Entertainment, Inc., also known as WWE, announced the introduction of an exclusive NFT marketplace. According to the announcement, the market will produce licensed digital WWE tokens and collector's items that present WWE superstars and iconic moments.

WWE plans to make the smackdown with NFT Collectibles

On October 27, Fox Entertainment and Bento Box Entertainment announced that the companies have an exclusive agreement with the listed media and entertainment company WWE (NYSE: wwe ). The professional wrestling company was founded in 1953 and is currently the largest wrestling promotion worldwide with more than 450 annually.

The company of Vince McMahon was known as World Wrestling Federation (WWF) for years, but changed its name in WWE in 2002. The three entertainment companies are planning to open a marketplace for licensed WWE-Nicht-fungable tokens (NFTS) and NFT collectors. The joint effort provides for the development of "authentic NFTS that honor the entire catalog of digital assets of the company".

nfts will include Summerlam, Wrestlemania, Iconic Moments and WWE superstars

WWE superstars are presented in addition to first-class events such as Summerlam and Wrestlemania. According to the announcement, WWE NFTS are operated in a similar way to the blockchain technology of ELUVIO NFT marketplace "The Masked Singer" . The WWE NFT market will be introduced in the near future and a publication date and a marketplace name will be announced in the "coming weeks".

In the announcement, it also states that Eluvio will authenticate the WWE-NFTS and that they will "be interoperable via Ethereum and other blockchains". Scott Zanghellini, Senior Vice President of Revenue Strategy and Development at WWE, explained that the partnership contributes to strengthening the relationship between WWE and Fox Entertainment. "This new partnership enables us to deepen our relationship with Fox while we continue to explore new and creative ways to hire our passionate fan base," said Zanghellini in a statement.

The deal with Fox and WWE is the second partnership between the two companies, since the two received a previous binding in 2019 when Fox Sports began to broadcast the WWE show "Friday Night Smackdown", which is broadcast every week. The smackdown shows will "play an important role in promoting the marketplace for WWE fans," the announcement said. Users must use a digital wallet provided by ELUVIO to take part in WWE NFT campaigns.

What do you think that the WWE media and entertainment company has teamed up with Fox and Bento Box to deliver official WWE NFTs? Let us know your opinion on this topic in the comments below.

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