- Undertaker NFT to launch on Saturday.
- The rise of NFTs.
Wrestling champion Undertaker’s adaptation of the NFT concept has taken the rise of NFTs to another level. The continued acceptance of Non-Fungible Token (NFTs) in the past months can not be understated and no longer ignorable for brands that can and want to fit into the new trend. The most recent industry to join the NFT frenzy is the wrestling firm WWE.
The WWE announced that they would be creating the first-ever wrestling NFT for wrestling champion, Undertaker. The token will showcase iconic moments from the champ’s legendary career alongside memorabilia that have never been sold and experiences just in time for WrestleMania.
Per a press release, the WWE tokens would be launched in collaboration with Bikti and would hit the market Saturday, the 10th of April till the 11th April. They would trade under four separate categories, and the auction will be up for 37 hours.
The platinum tier token will have an opening bid of $10,000, gold for $5000, silver for $1000, and finally bronze will start at $100.
Nick Khan, WWE President & Chief Revenue Officer, said that the firm’s first NFT collection presents an opportunity to own a digital piece of history featuring The Undertaker, one of the most iconic superstars in sports entertainment.
Khan notes that it would also allow the WWE to deepen its connection with fans of the WWE.
The rise of NFT
NFTs have surged sporadically in 2021, especially in recent months that digital arts have continued to be tokenized. These pieces have raked in around $69 million, according to Beeple art sale. Although these objects can be duplicated, whoever buys the original art gets a token giving him exclusive right to prove the original belongs to him.
Alongside Beeple, Jack Dorsey, CEO of Twitter, recently tokenized his first tweet and sold it at a whopping $2.9 million weeks back.
The most popular use case of NFTs, however, are NBA superstars.NBA and Dappers Lab have partnered to sell highlight videos backed by NFTs. Demand for the videos has risen as not lesser than 100,000 own highlights. LeBron James dunk, which is the most expensive highlight, trades for $250,000
Wrestling champion Undertaker
The superstar’s name is Mark William Calaway, but popular for his ring name Uthe Undertaker. Although he is an American retired wrestler, he is still signed with the WWE.
Calaway began his career in 1987, working for World Class Championship Wrestling (WCCW) and other affiliate promotions. He became USWA Unified World Heavyweight Champion and WCWA Texas Heavyweight Champion during this time.