NMO Arena has two similar stage variations; NMO Arena and NMO Arena (Empty). Both stages are unlocked by default for use in multiplayer and training.
Anything goes in the wrestling ring when it comes to fighting. The lights from above shine for the audience members to see the intense action and six draped banners exhibiting the action shot artwork of the characters currently in the ring. If a 3-on-3 match does not occur, the banners will be replaced with other images depending on the sides. On the left, the farthest banner will be replaced with an image of a chair resembling Beowulf's chair the Hurting and the one next to it shows a wolf howling at the moon. On the right, the farthest banner would show an image of an arm resembling Grendel's while the one next to it will display a champion belt. There are more, smaller banners hung up at the top-most part of the arena displaying characters that were available for the Indiegogo character vote. The fans cheer and the pyrotechnics blaze in the background whenever certain moves are performed.
The Empty variant of the stage has darker lighting and the audience is gone, but the banners are still on display and the night sky is shown along with stars. The background pyrotechnics do not alight in this version, however, the stage elements, such as the banners and stadium lights, still shake after causing heavy movement. Heavy movement can be incurred by performing the tag-in of a character or by hitting a character against the side of the screen.
During development the character select portraits were featured on the banners to serve as placeholders for the final art. Currently, Beowulf is the only character to not have his action shot used in his banner. Instead he uses his Indiegogo pinup art.
- The title of this stage is a shout out to the New World Order, a professional wrestling stable which formed at World Championship Wrestling's Bash at the Beach 1996 pay-per-view.
- NMO Arena (Empty) is one of only two stage variants in the game to have unique music, with the other being "Bath of Sekhmet".
- NMO Arena's stage music, "The Crowd Goes Wild", was composed by Brenton Kossak & Blaine McGurty. NMO Arena (Empty) uses a remixed version of this theme called "The Crowd Goes Home", also composed by Kossak and McGurty.
- There are two sets of banners, and the set which appears on stage is completely random. In order Set 1 exhibits Panzerfaust, Beatrix, Hubrecht, Minette, Umbrella, Roxie, Annie, Ottomo, and Scythana; while Set 2 shows ---.