Developed by Asmik Ace Entertainment and AKI Corporation, No Mercy is the last in a series of Nintendo 64 wrestling games from the companies that started with WCW vs. nWo: World Tour.

The improvements made to the game, combined with the series' vaunted gameplay and controls garnered praise from critics upon release.

[2] In the years since its release, No Mercy has been regarded as one of the best wrestling video games ever made, as well as one of the standout titles for the Nintendo 64.

Each storyline features branching paths that are reached depending on players' decisions made during the story or whether they win or lose certain matches.

The game also features new arenas to wrestle in, as well as introducing backstage areas in which players can brawl using various weapons and objects in the environment.

[7] No Mercy features much more extensive character creation options than its predecessors with more moves, more customizable body attributes and the ability to create female wrestlers.

A companion title for the handheld Game Boy Color was also announced, which would allow players to utilize the Transfer Pak to import points earned in the portable game to spend on rewards in the Nintendo 64 version's SmackDown Mall, as well as featuring a special storyline path that players could play through in Championship Mode.

[10] Soon after release, an issue with the initial line of game cartridges was reported in which players' save data could and would inexplicably be erased at any time.

[11] When players still reported issues, the company eventually instituted a recall program where those affected by the glitch would be able to exchange their copy of the game for a fixed one.

Reviewer Frank Provo wrote that "(e)xecuting these and other moves is as simple as tapping A to grapple and then performing a short directional pad and button combination".

"[20] The game's improvements over WrestleMania 2000 were also well received, with publications such as GamePro and GameRevolution calling No Mercy a "revamp" and "upgrade" over its predecessor.

[18][23] Frank Provo of GameSpot and Al Paterson of X-Play cited the Smackdown Mall and additional character creation options as highlights.

[4] Rus Mclaughlin of IGN wrote that the title helped AKI "seal their hold on the new benchmark of wrestling games".

A day before the event, WWE released the cold open online ahead of the show which paid tribute to the No Mercy video game.