Recently, WWE took a dive into the world of NON-FUNGIBLE TOKENS, also known as NFT’s.
- A non-fungible token (NFT) is a financial security consisting of digital data stored in a blockchain, a form of distributed ledger.
- The ownership of an NFT is recorded in the blockchain, and can be transferred by the owner, allowing NFTs to be sold and traded. (wikipedia)
- In this article, we will take a look at current WWE MOONSAULT Marketplace for WWE NFTs and what the future may hold for this new technological advancement.
Similar to the popular NBA Top Shot NFTs, WWE MOONSAULT strives to provide highlights of major WWE moments to fans around the world utilizing blockchain technology.
In 2021, you may remember that WWE released limited edition NFTs for The Undertaker and John Cena. These NFTs were attached to REAL LIFE experiences, which is a major strong point for NFTs. The Undertaker NFT was attached to WrestleMania, while John Cena’s were attached to SummerSlam. However, they both had moderate success in part to the lack of knowledge by WWE fans on what an NFT even is.
The first major drop of WWE NFTs on WWE MOONSAULT coincided with the recent WWE Hell in a Cell 2022 premium live event. The timing, however, couldn’t have been worse. With the world suffering from inflation due to political incompetence, pandemic response & avoidable wars, the market for NFTs in general has plummeted.
There was also (2) editions of an initial WWE MOONSAULT GENSIS NFT, which was FREE and first come, first serve. They are simply the WWE MOONSAULT logo. There were 10,000 available. The website touts (LOL, Tout) that there will be “special benefits in the future.”
Before I dive into the particulars of the current WWE MOONSAULT marketplace, let’s take a quick look at WWE’s description of what fans can expect from this NFT project. Here is an excerpt from the WWE MOONSAULT website with an explanation:
Moonsault is the official marketplace for WWE NFTs and the online destination for the WWE Universe. The daring Moonsault maneuver embodies the fearless spirit of the Web3 age. The name conjures up images of not only a crushing acrobatic flip but also of soaring to new metaphorical heights and reaching new digital frontiers. By joining the discord and participating in NFT drops on WWE Moonsault, you get direct access to the biggest moments, memories, experiences, and superstars all in one place.
Sounds kind of cool, right? But what exactly is ‘direct access?’ WWE describes it as WWE NFT FLIPS. Here is their explanation of what a WWE NFT FLIP is:
WWE NFT Flips are like one-of-a-kind, old-school collectibles with a massive Web3 upgrade. You can take your fandom to new heights and relive legendary matches and iconic moments featuring your favorite Superstars. Each Moonsault collection will offer a limited supply of Cases, each containing 3 randomized NFT Flips. Cases can be opened upon purchase, revealing jaw-dropping moments, and then transform after major events.
Two days before WWE Hell in a Cell, I purchased about $200 worth of WWE NFT FLIPS.
Upon opening my cases, I found out who my 3 randomized NFT flips are after waiting a couple of minutes for the minting process to take place. Once the minting is finished, I found out which Superstars I received and how many of those NFT’s are available. About a week after WWE Hell in a Cell, the highlights within the flips are revealed.
At first, it’s just a generic spinning graphic before the reveal. Some of the highlights are really awesome, while others are a bit perplexing. The idea is similar to that of any other limited edition item. There will only be X amount of that highlight available EVER in NFT form. The excitement comes in finding out which highlight will be revealed.
For the WWE Hell in a Cell 2022 drop, the releases featured superstars that are /500, /50, /10…meaning this was the amount of mints of each superstar for the set.
The set includes:
Stone Cold Steve Austin /500, Liv Morgan /500, Asuka /500, The Undertaker /500, DX /500, MVP /500, Randy Orton /500, Batista /500, Charlotte Flair /500, Bobby Lashley /500, Omos /500, Paul Bearer /500, Becky Lynch /500, Seth “Freaking” Rollins /500, Cody Rhodes /500, Bianca Belair /500, Rhea Ripley /500, New Day /500, Terry Funk /500, Edge /500.
Triple H /50, Kane /50 and Mankind /10.
Since I’m an owner of 21 WWE NFT Flips, I have been personally paying close attention to the marketplace. Over the course of the past 2 weeks since the drop, prices have plummeted as demand has loosened.
The initial Hell in a Cell drop has 3,300 Cases available. Buyers also have the option to keep their case closed, or list the case on the marketplace for resale.
As of this writing, here is what the WWE MOONSAULT NFT Marketplace looks like. The marketplace includes all items that have been acquired from the drops. This is the current Trading Activity, which can be found on the TRADE tab:
Active Listings: 2539
Active Listing Value: $2,166,909.62
Average Listing Price: $853.45
Highest Price: $10,000.00
Lowest Price: $2.99
Let me break this down:
Active Listings: This is how many WWE MOONSAULT NFTs are currently available for purchase from the various owners. Keep in mind that ALL transactions are viewable, so you can see which NFTs are selling for how much, and how often. This gives you an idea of what is popular, what isn’t and the current demand.
Active Listing Value: This is the total amount of ALL listings. Keep in mind that many owners simply list their NFTs for ridiculous amounts, hoping to cash in on a payday from a generous buyer. We will dive into the current buying activity in a moment.
Average Listing Price: This is simply Active Listing Value divided by Active Listings. Again, inflated due to the amount of extremely high listing prices.
Highest Price: This is what the highest price for an NFT listing currently is. $10,000.00 is the MAXIMUM listing price currently allowed on WWE MOONSAULT. Many users have their NFTs listed at the maximum price, even if the value isn’t quite there yet…or perhaps never will be.
Lowest Price: This is what the lowest price for an NFT listing currently is. $2.99 is the LOWEST listing price currently on WWE MOONSAULT. There is a minimum listing price of $0.00 and many people have sold off their NFTs at exactly that.
As of this writing, here is what the WWE MOONSAULT NFT Sales Activity looks like. These are the most recent sales statistics, which can be found on the ACTIVITY tab:
Total Sales: 2171
Total Sales Volume: $31,684.75
Average Price: $14.59
Highest Price: $420.69 (LMAO, nice)
Lowest Price: $0.00
Let me break this down:
Total Sales: This is how many sales have taken place on the WWE MOONSAULT Marketplace. With consideration to the amount of WWE NFTs that were released, I expected this number to be somewhere near 5,000 sales by now. I’m not an ‘expert’ by any stretch, but I figure 5,000 sales would indicate a healthy market.
Total Sales Volume: This is the total amount of US Dollars that has been exchanged, peer-to-peer- on the WWE MOONSAULT MARKETPLACE. If we look at the Active Listing Value of over $2,000,000, the total completed sales only makes up a SMALL %. As the Active Listing Value increases, the Total Sales Volume should as well in theory.
Average Price: This is simply the Total Sales Volume divided by Total Sales. This is SUPER low in my opinion, but the market will dictate where this number falls.
Highest Price: This is the highest sale for a WWE NFT, with the price being $420.69 (LMAO, nice). With an abundance of WWE NFTs listed in the THOUSANDS of dollars, a ceiling selling price of under $500.00 has to be looked at as a disappointment for investors and collectors. And that sale was for a WWE Hell in a Cell Kane /50.
Lowest Price: This is the lowest sale for a WWE NFT, with the price being $0.00. I’m confused by this and have to dig deeper to find out. I tried to list one of my current NFTs on the marketplace for $0.00 and was not allowed to do so. It gave me a minimum of $0.01 as an option.
The last tidbit I will share with you today is how important the DISCORD community is to WWE NFTs. In fact, Discord is massive in the growth of NFT communities in general. Some of the benefits of being a member of the growing WWE Discord are exclusive giveaways, sweepstakes and NFT announcements.
In closing, it will be interesting to see which way this market moves with future NFT drops. Money in the Bank and SummerSlam are around the corner and we could see some major NFTs. Perhaps SummerSlam will feature the likes of Hulk Hogan, Brock Lesnar, Randy Savage, John Cena and various other SummerSlam legends. As a collector and investor of most things professional wrestling, I am intrigued to see if there is upward momentum to this market in the future.