Actor and professional wrestler John Cena said fans only bought 7.4% in his non-fungible token from World Wrestling Entertainment or WWE that he offered last month.
At Florida Supercon 2021 on September 12, Cena said it was a mistake to market its WWE NFT as part of a package of physical collectibles – hats, shirts, neckbands, hands, belts, towels, signed images, and digital collections. The organization offered 500 gold tier packages of NFT for $ 1,000, but only a fraction of that was sold.
“I talk a lot about failure – the idea failed,” said Cena. “The people and I at WWE think $ 1,000 is a fair price. We were wrong. We were completely wrong.”
“We sold 37 of them. It was a disastrous failure. “
Cena and WWE released two NFT tiers for the star wrestler: a 24-hour auction of a “John Cena Platinum NFT” and a limited 500 NFT as part of the aforementioned physical collector’s package the next day. The platinum NFT reportedly sold for $ 21,000, with the highest bidder receiving VIP tickets and accommodation for WrestleMania 38 in Dallas or WrestleMania 39 in Los Angeles.
The WWE veteran promoted the crypto space on social media long before it grew popular compared to NFT. Before Bitcoin’s (BTC) bull run in 2017 – when the price was around $ 4,000 – he tweeted a photo of the physical token. Retired professional wrestler The Undertaker, part of WWE until 2020, has also been featured in NFT collections.
Related: YouTuber swaps Tesla Roadster for NFT.
It’s unclear whether the price of the NFT will put off wrestling fans – Cena herself estimates the digital artwork at around $ 500 – or just physical collectibles. In July, an entrepreneur held auctions for the application of Apple co-founder Steve Jobs and an NFT from the same entity at the same time. The final physical paper sold for $ 343,000, while the last bid on NFT was 12 Ether (ETH), or about $ 27,460.