Famous Wrestler John Cena Says His NFTs’ Sale Was A Catastrophic Failure

John Cena (a well-known professional wrestler as well as actor) stated that his fans purchased just 7.4% of the WWE (or World Wrestling Entertainment) NFTs (nonfungible tokens), which were introduced by him last month. On 12th September 2021, while talking at Florida Supercon, Cena told that to sell his WWE NFT as making it a portion in a bunch of physical (autographed picture, towel, belt, wristbands, shirt, and so on) and digital collectibles was a mistake. The organization presented the “gold-tier packages,” which counted up to 500 charging $1,000 per NFT; however, just a fraction of them got sold.

Cena added that he had talked extensively about the failure of the NFT concept. He and the other associates in the organization considered that it was fair to sell an NFT for $1,000. Nonetheless, they were completely wrong about it, he further mentioned. According to him, only 37 of those NFTs were sold, suggesting a big failure. Cena, along with WWE, issued two NFT tiers of “John-Cena-Platinum-NFT, “in addition to 500 NFTs of limited edition, for an auction of up to 24-hours.

The reported price of the platinum NFT was $21,000, and the top bidder received VIP tickets along with accommodations into WrestleMania38 (situated in Dallas) or WrestleMania 39 (situated in Los Angeles). A lot of promotion has been done by the WWE professional for the crypto world via social media even before the time of flow in the popularity of NFTs. Earlier than the BTC (Bitcoin) bull run of 2017, when the value of the token was around $4,000s, John Cena made a tweet containing the picture of a physical token. The Undertaker (a professional wrestler who retired after making participation in the WWE up to 2020) has likewise been included in the NFT collections made by the organization.

It is still ambiguous whether the fans of wrestling did not purchase the NFTs due to the charges of the nonfungible tokens or it was because of those physical collectibles as John Cena asserted that the approximate worth of a digital artwork was nearly $500. During July, simultaneous auctions were made by an entrepreneur containing a job application from Steve Jobs (the co-founder of Apple). The application’s NFT was also linked with it. The sale of the physical paper reached about $343,000, and the NFT’s closing bid was not less than 12 ETH (Ether), making it up to $27,460 at that time.