AEW ventures into the NFT space despite WWE Moonsault’s declining engagement

AEW ventures into the NFT space despite WWE Moonsault’s declining engagement

The battle for professional wrestling dominance between All Elite Wrestling (AEW) and World Wrestling Entertainment (WWE) has spilled over into the web3 arena as AEW has decided to enter the NFT space with the launch of their “AEW Sensations” digital tokenized collectibles.

This move comes despite declining engagement and interest in WWE’s Moonsault NFT series, which was once launched on the Content Fabric blockchain with considerable hype, but now appears to have been abandoned by the company. Variety reported that the NFTs could be worth hundreds of thousands.

“NFT Flips will be sold at WWE Moonsault in ‘Cases’ of three, randomized by embossing, for $30 per Case, meaning sales could generate upwards of $100,000.”

However, the total secondary market volume for WWE Moonsault NFTs is only $93,719.16, with the average price at $14.61, far short of the hundreds of thousands they were designated to collect.

Source: WWE Moonsault

Upper Deck announced the exclusive deal with AEW to introduce “AEW Sensations” on their newly launched online platform, Evolution. According to the press release, the limited edition “AEW Sensations” product features the top three highlights from last week’s live telecasts of the “AEW: Dynamite” and “AEW: Rampage” shows.

The numbers surrounding WWE’s Moonsault NFT series reveal a stark contrast. CryptoSlate’s examination of several WWE Moonsault NFT contracts shows that in May 2023, the most recent transfers ranged from 7 days ago to 2 months ago, with an average of less than one transfer per week across the collections examined.

Furthermore, the entire Content Fabric blockchain averaged only 22 daily transactions, and most blocks produced on the blockchain had only a single transaction included. WWE’s last NFT release was in November 2022, with the Survivor Series War Games NFT series.

See also  King of the Universe Space Club launches NFT art collection inspired by the brilliant and cheeky billionaire Elon Musk.

Despite the dwindling engagement of WWE’s Moonsault NFT series, AEW remains optimistic about its partnership with Upper Deck. Mark Caplan, Vice President of Licensing and Gaming at AEW stated,

“AEW’s passionate fan base, along with Upper Deck’s legacy and unique position in the industry, has led to something truly spectacular for fans and collectors with the release of these authentic digital collectibles.”

Eluvio Blockchain Technology, which powers WWE’s NFT ecosystem on the Content Fabric network, has also been involved with Fox Entertainment and Blockchain Creative Labs. As reported by Sports Video, they had announced an exclusive multi-year deal to launch an NFT marketplace for licensed digital WWE tokens and collectibles.

The entry of AEW into the NFT space introduces a new layer of competition between AEW and WWE.

Disclaimer: Our authors’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Do your own due diligence before doing anything related to the content of this article. Finally, CryptoSlate takes no responsibility if you lose money trading cryptocurrencies.

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