Normally this blog posts content about ECW and its impact on the professional wrestling industry. One of the main topics which wrestling fans speculate is the "What if ECW had continued on to today" subject. Most online marketing revenue models which we know today weren't available in late-2000/early-2001 such as:
- Affiliate marketing platforms
- Google AdSense - where people clicking on ads would have helped the company's website earn advertiser revenues
- Social media advertising revenue such as ads appearing in front of and/or during the videos on the company's YouTube channel
- Other
Seeing that WOO is a partner listed in the footer of the website on the British Wrestling Project (https://britishwrestlingproject.com/) this opened up a conversation about using web3 to help with the nostalgia audience for professional wrestling. WOO has done very well regarding the card game and finding new ways to monetize the nostalgia audience while simultaneously helping former wrestlers who otherwise might have their bodies of work forgotten. This is being done heavily with web3/decentralization as a primary method.
This opens up the topic of how a company with such awareness to wrestling fans, such as ECW, can use web3 and similar topics to monetize and increase its connection to all wrestling fans including brand new fans who weren't even alive when the company stopped running shows in early 2001.
The mentioned British Wrestling Project lists these principles of web3 to help bring awareness:
Integrating Web3 into Professional Wrestling for the first ever time, we’re empowering fans. Earn tokens by watching and engaging with the show, stake the tokens to have a voice in the product, spend those tokens on power ups and trading cards in our game. It’s a fully connected ecosystem.
The fans will finally be heard! Stake your tokens or Genesis Pass and earn voting power! Vote on new signings, matches, storyline direction, merchandise designs, video game design and much much more, as part of a public, transparent DAO. We’re more than a promotion, we’re a community.
You are welcome to participate on this post with your thoughts on monetizing -- and adding hidden value -- from the pro wrestling promotions which are no longer running shows such as ECW, WCW, World Class, Smoky Mountain, and others. Here are some starting ideas, and these are completely open for improvement based on your thoughts using web3 & new technologies:
Earth based metaverses creating 3D buildings at the locations of the company's well known venues, such as the ECW Arena in Philadelphia, where there could be "halls of fame", "fan memories", AI avatar "tour guides" about the promotion, and fan-generated multimedia content such as new kinds of NFT trading cards based on famous matches.
Pinning to IPFS and web3 storage memories of fans at fun shows during the company's run. For example, there are virtual land platforms which allow the purchase of the land plots corresponding to what used to be the Sportatorium in Dallas Texas. Fans who were in attendance, or their family members were in attendance, during famous matches with the Von Erichs or The Freebirds, could be pinned to that specific location in Dallas on the virtual real estate platform's map. The memory then could be accompanied by a story as to why any photo still evokes emotion today. Merchandise then could be made from these pinned memories and links to the merchandise would be shared on social media.
There are new web3/decentralized social media platforms which offer token-gated communities allow private/exclusive content to owners of NFTs with specific smart contract ID's. Owners of such a NFT then would be granted "members' only" access to the token-gated social media group.
Tokenized (fractional) ownership of verified rare memorabilia such as if someone actually has an authenticated AWA world heavyweight championship belt or the official sign which used to be on the outside of the company's main venue.
Adding historical digital content, currently only available on fans' private hard drivers or the Wayback Machine, to IPFS or other web3 storage backed by token-only access. This would be done to archive wrestling history in a decentralized manner for future wrestling fans.
Adding images, videos, and audio in Augmented Reality at hyper-specific locations tied to that company's shows. For example, if you wanted to ever wear the ECW World Heavyweight Championship title belt then it is available in Augmented Reality outside the Elks Lodge (in Queens) and the Hammerstein Ballroom in Manhattan New York City. A fan could step behind the image and look as if he/she is wearing the title belt.
Anything else web3-related which you believe would be applicable to wrestling promotions which are no longer active.
Thank you for your thoughts on how to use the new technology to serve fans of former pro wrestling companies.