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WWE veteran John Cena describes his personal NFT sales as a “catastrophic disaster”

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WWE veteran John Cena describes his personal NFT sales as a “catastrophic disaster”. Wrestling Entertainment offered 500 $1,000 gold tier packages with Cena’s NFT, but only a small percentage of them were sold.

Fans only bought 7.4% of the World Wrestling Entertainment, or WWE, nonfungible tokens (NFTs) that he made accessible last month, according to professional wrestler and actor John Cena.

Long before the rise in popularity of NFTs, the WWE veteran supported the crypto realm on social media. He shared a picture of the physical token before the 2017 Bitcoin (BTC) bull run, when the price was in the $4,000s. The Undertaker, a retired professional wrestler who was a member of the WWE until 2020, has also appeared in NFT collections.

Cena said it was a mistake to offer his WWE NFTs as part of a package including physical collectables. A shirt, hat, wristbands, belt, towel, autographed picture, and the digital collectable — at Florida Supercon 2021 on Sept. 12. The group provided 500 $1,000 gold tier packages with the NFT, but only a small percentage of them were sold.

“I talk a lot about failure,” Cena remarked. “And this notion failed”. “Myself and the WWE thought $1,000 was a reasonable pricing point. We were mistaken. We were completely incorrect.”

Only 37 of the 500 limited-edition NFT were sold

Cena and WWE produced two tiers of NFTs for the wrestler. A 24-hour auction of a “John Cena Platinum NFT” and 500 limited edition NFTs the following day. As part of the aforementioned bundle of physical collectables. The platinum NFT reportedly sold for $21,000. With the highest bidder receiving VIP seats to WrestleMania 38 in Dallas or WrestleMania 39 in Los Angeles, as well as hotel accommodations.

The reason for the failure is yet unknown

It’s unclear whether the NFT’s price — Cena estimated the digital artwork to be worth around $500 — or the actual memorabilia put off wrestling fans. In July, an entrepreneur held simultaneous auctions for an Apple co-founder Steve Jobs job application and an NFT of the same. The actual paper sold for $343,000. While the NFT received a final bid of 12 Ether (ETH), or $27,460 at the moment.

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