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John Cena Admits His WWE NFT Series a Catastrophic Failure

John-Cena-Calls-His-Own-NFT-Sales-A-Catastrophic-Failure NFT News
  • John Cena features in an NFTs series launched by WWE.
  • WWE sells only 37 out of 500 kits or 7.4%.
  • Cena calls his own NFT sales a ‘catastrophic failure.’

World Wrestling Entertainment (WWE) features John Cena in a non-fungible token (NFT) series. Besides, it is a part of the hot stories of 2021 that has been the rise of interest in NFTs. Likewise, more athletes and sports organizations have chosen to capitalize on the increase of NFTs by launching digital assets.

Furthermore, WWE tried to sell a 500 series of limited and platinum edition NFTs, including a personalized WWE Championship Title Belt. In addition, those who bought the John Cena NFTs also arrange for a once-in-a-lifetime experience for two at WrestleMania 38 in 2022.

But, John Cena said at Florida SuperCon:

So I talk a lot about failure.” This idea failed. So why is it a thousand bucks? Because the folks at WWE and I believed a thousand dollars was a good price, but we were wrong. We were absolutely wrong.

Cena added that he figured out that WWE would only sell 37 of the 500 kits. “It was a catastrophic failure,” Cena reiterated. “I design all my stuff. The shirt and hat you’re wearing, what I’m wearing. So I was super proud of this one.”

On the other hand, a WWE featuring “The Undertaker” NFT series was sold out in less than a minute and raised over $132,000, with prices starting at $100.

WWE has fully explained NFTs being a potential revenue driver. The failure of the John Cena NFTs could be a lesson. It’s better to sell out fast at a low price than to price too high and leave a supply on the table.

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A Computer Engineering graduate who writes news focuses on cryptocurrency-related and blockchain technology. He is enjoying using his skills to contribute to informing people of the exciting technological advances that happen every day.