According to Turner Wright of Coin Telegraph, John Cena admitted his World Wrestling Entertainment NFTs flopped. The actor and former wrestling champion said only 37 NFTs were sold from a collection of 500 NFTs or only 7.4%. A platinum, single edition NFT did sell for $21,000.
Cena blamed the price of $1,000 per NFT as too high. He also appeared to question the marketing strategy of including NFTs with physical collectibles such as ” a hat, shirt, wristbands, belt, towel, autographed picture, and the digital collectible.”
The WWE had better luck selling NFTs of the Undertaker, which reportedly brought in over $100,000.
We think the reasons for Cena’s NFT flop might be simpler. The WWE’s tweet about Cena’s NFTs on Aug. 16, 2021 (see above) leaves a lot to be desired, from a marketing standpoint. Where are the NFTs themselves? Show them. Why does the neon green and yellow look so cheap? Plus, the website for the sale of the NFTs apparently requires a user to create an account before viewing the NFTs.
