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WWE’s John Cena NFT Sale was a Complete Failure

By September 22, 2021 No Comments

Key takeaways:

  • WWE star John Cena’s NFT sale haven’t had much luck with his NFT sale, selling only a small portion of exclusive digital items
  • In the past year, we’ve witnessed a surge in NFT collections launched by celebrities from different areas
  • The most expensive NFT ever sold is still Beeple’s collage, which was sold for more than $69 million back in March

One of the biggest names in the history of World Wrestling Entertainment (WWE), John Cena has recently joined the fold of celebrities who have decided to venture into the space of the hugely popular non-fungible tokens (NFTs) to launch exclusive digital item sales. While most sales held in the last couple of months were a huge success, the wrestler-turned-actor didn’t have the same luck with his NFT sale.

What led to the poor performance of the NFT sale?

When talking at the Florida Supercon 2021, Cena revealed that only 7.4% of available items were sold and attributed the lackluster performance of his NFT sale to the high asking price.

John Cena is widely regarded as one of the greatest WWE athletes of all time. Image source: Wrestling Inc

Out of 500 offered gold tier packages that were priced at $1,000 each, only 37 of them sold. The packages included a number of physical items, including the famous wrestler’s autograph, and a unique digital item. Cena had more success with the exclusive one-of-a-kind platinum NFT, which sold for $21,000 following the 24-hour auction.

“Myself and the folks in the WWE thought $1,000 was a fair price point. We were wrong. We were absolutely wrong. We sold 37 of them. It was a catastrophic failure.”

NFTs and the real world collide

Earlier in the year, WWE held an auction of NFT items of another one of its biggest stars, The Undertaker, which gathered a massive amount of interest as the top item was ultimately sold for over $130,000.

Over the past year, we’ve seen some of the biggest names in the world of professional sports, movies, and celebrities from all walks of life joining the NFT hype train. For instance, That 70s Show’s star Mila Kunis has been promoting the Stoner Cats with Ethereum’s Vitalik Buterin, which is the first NFT series of its kind.

The most expensive NFT ever sold is a collage of digital art pictures that Beeple has made every day for 5,000 days straight. Image source: Beeple

Boxing legend Mike Tyson has also dropped his NFT collection and said he was excited about being a part of the crypto community before the launch. Tyson’s boxing colleague, widely regarded as the best defensive boxer in history, Floyd Mayweather also released his own NFT collection titled ‘The Legacy’.

Just two weeks ago, the world’s largest art museum, World Hermitage Museum joined forces with Binance, to offer a unique collection of 5 NFT items representing the works of some of the most renowned artists of all time, including Leonardo Da Vinci and Vincent Van Gogh.

As of now, the most expensive NFT ever sold was Mike Winkelman’s (professionally known as Beeple) Everdays: The First 5000 Days, which sold for an astounding $69 million back in March at an auction held by Christie’s. At the time, Winkleman said that NFTs signify the “next chapter of art history.”