WWE Hires Fox's Blockchain Creative Labs to Make NFT Market for Its Digital Collectables
Fox's fast-moving Blockchain business announces its first big external client
Formed over the summer, and already at work creating an NFT marketplace for one of FOX Broadcasting's biggest properties, The Masked Singer, Fox Entertainment's Blockchain Creative Labs has announced its first big client outside the studio lot, the WWE.
Also read: Can Fox Mine Digital Gold In NFT Wild West With Eluvio Investment?
In collaboration with Blockchain Creative Labs, the publicly traded WWE will create non-fungible tokens tied to the wrestling company's catalog of digital assets, including those associated to such iconic events
as "WrestleMania" and "SummerSlam."
“Blockchain Creative Labs has quickly become a leader in the space with an incredible executive team that truly understands the NFT arena and its tremendous potential,” said Scott Zanghellini, WWE senior VP of revenue strategy and development.
"Quickly" is used correctly here. In August, Fox and its Bento Box unit partnered with Blockchain technology Eluvio to create a new unit designed to help creative clients protect and monetize their digital assets, using the etherial "blockchain" computing concept.
Essentially, instead of having wrestling fans all over the world create on their own JPEG stills, short videos and other digital assets based on WWE talent and events, WWE will create these assets, and allow fans to pay good money for them via NFTs--those digital certificates that say you own something digital on the internet.
Fox just announced two weeks ago that Blockchain Creative Labs is getting to work on FOX hit reality show The Masked Singer.
"We know WWE’s passionate fan community will love owning authentic digital goods across the organization’s creative universe--from past and present stars to classic, culture-defining moments,” said Scott Greenberg, CEO of Blockchain Creative Labs and Co-Founder/CEO of Bento Box Entertainment.
Fox and WWE are already in business together. In October 2019, Fox Sports began airing the two-hour Friday Night SmackDown on its primetime schedule. The show will now be used as a platform to promote WWE's NFT marketplace.
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Daniel Frankel is the managing editor of Next TV, an internet publishing vertical focused on the business of video streaming. A Los Angeles-based writer and editor who has covered the media and technology industries for more than two decades, Daniel has worked on staff for publications including E! Online, Electronic Media, Mediaweek, Variety, paidContent and GigaOm. You can start living a healthier life with greater wealth and prosperity by following Daniel on Twitter today!