Tag: Fanatics

WWE Inks Deal with Fanatics to Offer Fans an Enhanced NFT Experience

by Blockchain News

To render its fans a new experience through non-fungible token (NFT) trading cards, World Wrestling Entertainment (WWE) has signed a deal with the digital sports platform Fanatics. 

As an American integrated media and entertainment company known for professional wrestling, WWE sees the partnership as a game-changer that will give its global fanbase more opportunities to showcase their pride and passion for its star-studded roster and marquee events.

Vince McMahon, WWE chairman and CEO, welcomed the collaboration and stated:

“We believe this multi-platform partnership will set a new standard for WWE e-commerce, apparel and merchandise, while providing our fans globally with more ways than ever to engage with WWE and our Superstars.”

For elevated fan experience, WWE will be able to access Fanatics Collectibles, Fanatics Commerce, and Candy Digital. 

Fanatics Collectibles, the NFT trading cards, will help revamp WWE’s physical and digital cards. 

Michael Rubin, Fanatics CEO, noted:

“From e-commerce and licensed merchandise to trading cards and more, we’re going to offer up an incredible set of capabilities to help WWE’s passionate fans worldwide celebrate their favorite Superstars, marquee events and the WWE brand overall.”

WWE is one of the most widely admired sports and entertainment properties worldwide. Rubin added that it made perfect sense to activate many parts of our Fanatics global platform to create a first-of-its-kind, all-in fan experience.

The organisation has shown its preference for non-fungible tokens, given that it launched John Cena-inspired NFTs just in time for SummerSlam in August 2021.

Meanwhile, a recent PricewaterhouseCoopers (PwC) report acknowledged that NFTs would be at the epicentre of the future of sports as they would revolutionise the way fans consume and interact in the sporting arena. 

Image source: Shutterstock

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Sports collectible NFTs will have ‘tremendous value created,’ says Fanatics chair

by Cointelegraph

Basketball legend Magic Johnson has a future with the bulls. No, he’s not returning to play for the NBA, but joining a major sports licensing company that looks favorably at the rise of the non-fungible token market.

In an interview with CNBC’s Squawk Box today, Michael Rubin, executive chairman of sports merchandise company Fanatics, said the digital and physical collectible market was “exploding” due in part to many spending more time at home last year. Johnson just joined Fanatics’ board as an independent director and seemed to shared Rubin’s optimism.

“It’s almost a frenzy happening right now,” said Rubin. “I think there’s going to be tremendous value created, but also there’s so many people getting into it, I don’t think everyone’s going to be successful. I think it’s really going to be about creating incredible content, incredible product — that’s what is going to have longevity.”

Johnson compared non-fungible tokens, or NFTs, to the physical trading cards popular when he was in the NBA playing for the Los Angeles Lakers. The basketball legend said “the whole game has changed,” with collectible cards, jerseys, and even sneakers benefiting from advances in technology.

The NFT market — which includes artwork, sports memorabilia, trading cards, and more — grew to $250 million in 2020, more than quadrupling in size. In the art world, Micah Johnson, a former MLB player-turned artist, sold $2 million worth of NFTs on the Nifty marketplace last month.

Meanwhile, major sporting firms have also been partnering with tech companies to capitalize on this growing market. Last week, NBA Top Shot, a marketplace for NFTs built on Dapper Labs’ Flow blockchain, sold more than $230 million in digital collectibles.