John Cena calls his own NFT sales a ‘catastrophic failure’

World Wrestling Entertainment offered 500 gold tier packages with Cena’s NFT for $1,000, but only a fraction of them sold.

Professional wrestler and actor John Cena said fans only purchased 7.4% of his World Wrestling Entertainment, or WWE, nonfungible tokens (NFTs) that he made available last month.

Speaking at Florida Supercon 2021 on Sept. 12, Cena said it was a mistake to market his WWE NFTs as part of a package with physical collectibles — a hat, shirt, wristbands, belt, towel, autographed picture, and the digital collectible. The organization offered 500 gold tier packages with the NFT for $1,000, but only a fraction of them sold.

“I talk a lot about failure — this idea failed,” said Cena. “Myself and the folks in the WWE thought $1,000 was a fair price point. We were wrong. We were absolutely wrong.”

He added:

“We sold 37 of them. It was a catastrophic failure.”

Cena and WWE released two tiers of NFTs for the wrestling star: a 24-hour auction of a “John Cena Platinum NFT” and the 500 limited edition NFTs as part of the aforementioned package of physical collectibles the following day. The platinum NFT reportedly sold for $21,000, with the highest bidder receiving VIP tickets — with accommodations — to WrestleMania 38 in Dallas or WrestleMania 39 in Los Angeles.

The WWE veteran promoted the crypto space on social media long before the surge in popularity over NFTs. Before the 2017 Bitcoin (BTC) bull run — when the price was in the $4,000s — he tweeted a picture of the physical token. Retired professional wrestler The Undertaker, part of the WWE until 2020, has also been featured in NFT collections.

Related: YouTuber trades Tesla Roadster for NFT

It’s unclear if wrestling fans were deterred by the price of the NFT — Cena, himself, estimated the digital artwork to be worth roughly $500 — or just the physical collectibles. In July, an entrepreneur launched simultaneous auctions for a job application from Apple co-founder Steve Jobs and an NFT of the same. The physical paper ended up selling for $343,000, while the final bid for the NFT was 12 Ether (ETH), or roughly $27,460 at the time.

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Crypto community remembers Hal Finney’s contributions to blockchain on his 65th birthday

The cypherpunk was one of the first people besides Satoshi Nakamoto to mine Bitcoin blocks, and reported many of the early bugs.

It’s been more than ten years since computer scientist Hal Finney became the recipient of the first transaction on the Bitcoin blockchain, and his impact on crypto as a technology is still felt today.

Finney was one of the first people to respond to Satoshi Nakamoto’s post on the cypherpunks mailing list, with some in the space still believing he was one of the pseudonymous individuals behind the creation of Bitcoin (BTC).

The legendary Bitcoin pioneer would have turned 65 years old today, had he not passed away from amyotrophic lateral sclerosis — also known as Lou Gehrig’s disease, or ALS — in 2014.

Prior to his death, Finney posted on the Bitcointalk forums about his early experiences with the cryptocurrency. He described mining several blocks on the BTC network as a relatively simple process in 2009, capable of being completed with a CPU rather than a GPU.

“When Satoshi announced the first release of the software, I grabbed it right away,” he said. “I think I was the first person besides Satoshi to run Bitcoin. I mined block 70-something, and I was the recipient of the first Bitcoin transaction, when Satoshi sent ten coins to me as a test. I carried on an email conversation with Satoshi over the next few days, mostly me reporting bugs and him fixing them.”

Finney was a well known cryptographer who worked for the PGP Corporation — later acquired by Symantec — in the development of software allowing users to encrypt emails and files. Even though one of his last messages said he was “essentially paralyzed,” Finney used an eyetracker system to write code aimed at beefing up the security around crypto wallets.

Finney is survived by his two children and wife Fran, who today posted a photo of the Bitcoin pioneer running through a neighborhood in the 1980s, an image retweeted by cryptographer Adam Back. Before his diagnosis, Finney was training to run a full marathon.

Prior to his death, Finney and his wife Fran worked to raise awareness and fundraising for ALS. Since his departure, Fran Finney has continued her husband’s legacy, working together with the Golden West chapter of the ALS Association.

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Polkadot Lays Out Its Plans for Parachain Rollout as the Token’s Price Climbs

Polkadot Lays Out Its Plans for Parachain Rollout as the Token's Price ClimbsThe price of Polkadot’s native token hit an all-time high (ATH) this week, soaring above $30, as the company laid out the next steps of its plans and the systems to finalize the network launch. Polkadot Roadmap Outlines Layer 0 Deployment Initiatives Polkadot released a roadmap highlighting that it is currently in its Rococo phase, […]
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Sky High Bitcoin and Ethereum Fees: While Prices Jump the Cost to Transfer Follows Suit

Sky High Bitcoin and Ethereum Fees: While Prices Jump the Cost to Transfer Follows SuitWhile a number of digital currencies have seen price gains the two leading crypto assets, bitcoin and ethereum have seen transaction fees skyrocket. For instance, data shows that the median fee for a bitcoin transaction is $8.58, while the median fee is $9.35 when spending ether. Meanwhile, the average transaction fee for both networks has […]
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Driving to the moon? HODLer installs portable mining rig in BMW

“I’m not in crypto to make a fast buck, but I’ll take the bonus,” said Simon Byrne.

Crypto enthusiast Simon Byrne has taken crypto mining out of the garage and onto the road after installing a small farm in the trunk of his car.

According to a report from Hardware Times, Byrne purchased a BMV i8 hybrid vehicle retailing for roughly $150,000 and equipped it with a small crypto mining rig consisting of six GeForce RTX 3080 graphics cards. The rig is powered by an ASUS B250 Mining Expert board and an EVGA SuperNOVA 1600 T2 power supply. It is reportedly capable of mining both Bitcoin (BTC) and Ether (ETH).

Photo taken by Simon Byrne

The Nevada-based HODLer — as his license plate states — reportedly built the entire setup himself “to annoy gamers” and earn money while on the go. While the graphics cards Byrne uses are marketed toward high-end PC gamers, some miners are able to use their enhanced specifications for crypto.

“I’m not in crypto to make a fast buck, but I’ll take the bonus,” said Byrne.

The car’s battery can reportedly handle powering the farm, but heat is still a concern — maybe Byrne plans on primarily driving and mining in the winter? Otherwise, he will likely need to keep his BMV’s rear hatch open for ventilation.

Cointelegraph reported in December that the same speedster spent more than $93,000 to install 78 graphics cards in his home to mine Ether when the price of the token was just over $700. At the time, estimates put Byrne’s setup as capable of generating roughly $122,000 in profit per year, despite a massive electric bill.

Since that time, the price of Ether has doubled after breaking a two-year high earlier today. Bitcoin rose 2% in the last 24 hours to reach $32,639 at the time of publication.

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