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WWE plans development of an NFT for US wrestling


TL;DR Breakdown

• The CMLL and WWE announce their first collections on NFT.
• WWE announces that it will use the Eluvio Blockchain to create its non-fungible tokens.

The NFT creation has become routine in the virtual market, and every week, more and more arrive into the metaverse. The WWE announced that they would create their own NFT pieces based on their wrestling stars.

The statement clarifies that the WWE manager recognizes the fame that non-fungible tokens have earned, which is why they have announced their participation. The company seeks to create unique, creative pieces that all its fans attract.

WWE joins in the NFT trade

WWE

Wrestling is one of the most-watched entertainment sports by Americans, and World Wrestling Entertainment is the company that predominates among these lists.

According to the announcement made by WWE, their non-fungible trade will begin with special pieces of events at SummerSlam and WrestleMania held last April. But this first collection under the WWE signature will also show unique wrestlers’ pieces, where the Mystery King, Undertaker, John Cena, or XXX are possibly shown.

The WWE will use the Eluvio Blockchain to create the NFTs auction. Previously, the Blockchain was used by the Fox chain who tied its first non-fungible collection in August.

The platform for developing non-fungible parts has been in operation for years, useful for large corporations and small entrepreneurs. Eluvio works with the Ethereum network being linkable with EVM to create Smart Contracts and non-fungible tokens.

CMLL represented in the non-fungible market

Not only will the wrestling industry in America use the NFT trade to their advantage, but so will the CMLL. According to announcements, the council of professional wrestlers in Mexico intends to tackle the virtual auction market by launching its first exhibition.

The CMLL is the first wrestling company in Mexico and is older than WWE, founded in the 1980s. This makes the Mexican wrestling council the promoter of the sport in the ring and a supporter of new technologies.

CMLL did not elaborate on its first NFT collection, but it will be very eye-catching for fans and new enthusiasts. The non-fungible trade reveals its participation in a new category considering the first two auctions based on wrestling.

Non-fungible tokens have been used in art, music, firearms, video games, basketball, football, and wrestling. This virtual trade has been a success, and before the end of the year, it may grow more than previously expected.





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