Exclusive Multi-Year Partnership
Represents Blockchain Creative Labs’ First Third-Party
Collaboration
WWE (NYSE: WWE) and Blockchain Creative Labs, the new
non-fungible token (NFT) business and creative studio formed by FOX
Entertainment and Bento Box Entertainment, today announced an
exclusive multi-year agreement to launch an NFT marketplace for
licensed digital WWE tokens and collectibles. The partnership marks
Blockchain Creative Labs’ first-ever content alliance with an
external property beyond FOX.
In collaboration with Blockchain Creative Labs, WWE will create
authentic NFTs that celebrate the company’s entire catalog of
digital assets, including its most iconic moments, past and present
WWE Superstars and premier events, such as WrestleMania and
SummerSlam. Powered by Eluvio’s eco-friendly blockchain technology,
the marketplace will serve as a hub for consumers to purchase,
trade, sell and store digital tokens that will be authenticated
through Eluvio’s blockchain and will be interoperable across
Ethereum and other blockchains. The marketplace’s name and launch
date will be announced in the coming weeks.
“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 Vice President, Revenue Strategy & Development.
“This new partnership allows us to deepen our relationship with
FOX, as we continue to explore new and creative ways to engage our
passionate fanbase.”
“Blockchain Creative Labs is excited to partner with WWE in
launching its official NFT ecosystem. 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. “Our NFT studio is all about enabling fans to own
NFTs and tokens that carry utility and social clout directly from
the creators and brands they are passionate about, spanning
animation, sports, shows and movies to music, books, art, pop
culture and every other Web3-powered media asset you can possibly
imagine.”
To participate in the WWE NFT marketplace, fans create a secure
and easy-to-use WWE digital wallet through Eluvio that acts as a
vault and enables consumers to purchase collectibles using
traditional currency or cryptocurrency.
Today’s announcement represents the second partnership between
WWE and FOX. In October 2019, FOX Sports began to broadcast “Friday
Night SmackDown,” which airs 52 weeks a year, live in primetime
from 8:00-10:00 PM ET/PT, and will play an important role in
promoting the marketplace to WWE fans.
Earlier this year, FOX Entertainment and Bento Box Entertainment
entered the NFT business with the formation of Blockchain Creative
Labs and a $100 million creator fund to identify growth
opportunities in the space. In addition to the WWE NFT Marketplace,
Blockchain Creative Labs recently launched “The MaskVerse” for
FOX’s “The Masked Singer,” and will also launch a dedicated digital
Marketplace for Emmy Award-winning creator Dan Harmon’s upcoming
animated comedy, KRAPOPOLIS, marking the first animated series to
be curated entirely on the blockchain
About WWE
WWE, a publicly traded company (NYSE: WWE), is an integrated
media organization and recognized leader in global entertainment.
The Company consists of a portfolio of businesses that create and
deliver original content 52 weeks a year to a global audience. WWE
is committed to family-friendly entertainment on its television
programming, pay-per-view, digital media and publishing platforms.
WWE’s TV-PG programming can be seen in more than 900 million homes
worldwide in 28 languages through world-class distribution partners
including NBCUniversal, FOX Sports, BT Sport, Sony India and
Rogers. The award-winning WWE Network includes all live
pay-per-views, scheduled programming and a massive video-on-demand
library and is currently available in more than 180 countries. In
the United States, NBCUniversal’s streaming service, Peacock, is
the exclusive home to WWE Network.
Additional information on WWE (NYSE: WWE) can be found at
wwe.com and corporate.wwe.com.
About Blockchain Creative
Labs
Blockchain Creative Labs (BCL), a new business and creative
studio formed in 2021 by FOX Entertainment and its Emmy
Award-winning animation studio, Bento Box Entertainment, provides
content creators, IP owners and advertising partners end-to-end
blockchain computer ecosystem solutions to build, launch, manage
and sell Non-Fungible Token (NFT) content and experiences, and
fungible tokens, as well as digital goods and assets. BCL also
manages a $100 million creator fund, established by FOX
Entertainment and Bento Box, which identifies growth opportunities
in the NFT space. In August of 2021, Fox Corporation made a
strategic investment in Eluvio, a global pioneer for managing,
distributing and monetizing premium content via blockchain, that
will provide the underlying technology platform for BCL.
Trademarks: All WWE programming,
talent names, images, likenesses, slogans, wrestling moves,
trademarks, logos and copyrights are the exclusive property of WWE
and its subsidiaries. All other trademarks, logos and copyrights
are the property of their respective owners.
Forward-Looking Statements: This
press release contains forward-looking statements pursuant to the
safe harbor provisions of the Securities Litigation Reform Act of
1995, which are subject to various risks and uncertainties. These
risks and uncertainties include, without limitation, risks relating
to: the impact of the COVID-19 outbreak on our business, results of
operations and financial condition; entering, maintaining and
renewing major distribution agreements; a rapidly evolving media
landscape; WWE Network (including the risk that we are unable to
attract, retain and renew subscribers); our need to continue to
develop creative and entertaining programs and events; the
possibility of a decline in the popularity of our brand of sports
entertainment; the continued importance of key performers and the
services of Vincent K. McMahon; possible adverse changes in the
regulatory atmosphere and related private sector initiatives; the
highly competitive, rapidly changing and increasingly fragmented
nature of the markets in which we operate and greater financial
resources or marketplace presence of many of our competitors;
uncertainties associated with international markets including
possible disruptions and reputational risks; our difficulty or
inability to promote and conduct our live events and/or other
businesses if we do not comply with applicable regulations; our
dependence on our intellectual property rights, our need to protect
those rights, and the risks of our infringement of others’
intellectual property rights; the complexity of our rights
agreements across distribution mechanisms and geographical areas;
potential substantial liability in the event of accidents or
injuries occurring during our physically demanding events including
without limitation, claims alleging traumatic brain injury; large
public events as well as travel to and from such events; our
feature film business; our expansion into new or complementary
businesses and/or strategic investments; our computer systems and
online operations; privacy norms and regulations; a possible
decline in general economic conditions and disruption in financial
markets; our accounts receivable; our indebtedness including our
convertible notes; litigation; our potential failure to meet market
expectations for our financial performance, which could adversely
affect our stock; Vincent K. McMahon exercises control over our
affairs, and his interests may conflict with the holders of our
Class A common stock; a substantial number of shares are eligible
for sale by the McMahons and the sale, or the perception of
possible sales, of those shares could lower our stock price; and
the volatility of our Class A common stock. In addition, our
dividend is dependent on a number of factors, including, among
other things, our liquidity and historical and projected cash flow,
strategic plan (including alternative uses of capital), our
financial results and condition, contractual and legal restrictions
on the payment of dividends (including under our revolving credit
facility), general economic and competitive conditions and such
other factors as our Board of Directors may consider relevant.
Forward-looking statements made by the Company speak only as of the
date made and are subject to change without any obligation on the
part of the Company to update or revise them. Undue reliance should
not be placed on these statements. For more information about risks
and uncertainties associated with the Company’s business, please
refer to the “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” and “Risk Factors” sections of
the Company’s SEC filings, including, but not limited to, our
annual report on Form 10-K and quarterly reports on Form 10-Q.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211027005756/en/
Media Contact: Chuck Kingsbury
203-352-8701 Chuck.Kingsbury@wwecorp.com
Les Eisner 310-369-3276 les.eisner@fox.com
Investor Contact: Michael Weitz
203-352-8642 Michael.Weitz@wwecorp.com
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