Right now the RAW Women's Championship scene consists of Nia Jax, Sasha Banks, Emma, and Alexa Bliss. All of these women are locked in to compete in a Fatal 4-Way at No Mercy, however, WWE is only focused on 2 of them.
According to the Wrestling Observer Newsletter, WWE is building towards a feud exclusively featuring Alexa Bliss and Nia Jax. This means that we can expect Bliss to retain her Championship at No Mercy by pinning either Sasha Banks or Emma.
With Jax turning on Bliss just recently, their story is in the incubation period. They'll get physical at No Mercy but expect to see more of Alexa running from Jax rather than going toe-to-toe. There's still plenty that needs to transpire but look for their first 1-on-1 contest to take place in a gimmick match at October's TLC.
This is likely WWE's smartest option. With Jax being a much bigger competitor than Bliss, there's no conceivable way for Bliss to believably pin, Jax. However, if it was a Chair's Match, then the playing field gets evened.
It seems that WWE is warming on Jax as a main eventer. As the physical outlier, Jax distinguishes herself from the pack. On top of that, Jax adds an element of physical brutality that has been missing from women's wrestling for a long time. That said, the anomaly that is Jax is something that Vince McMahon himself loves. On a recent episode of Talk is Jericho, Jax discussed an intimate conversation she had with Vince earlier in her career:
"Obviously, Vince is like the big dog, he owns the company. You hear, 'oh do this, do that because Vince likes it.' So one day, I walked up to his office, grabbing some balls of mine and saying, 'hey Vince.' I walked in and thanked him for the opportunity he's given me so far and want to know what [he] wants me to do in this division. He said, 'You're like the Andre the Giant of the females.'" she recalled. "'It's going to take a lot for these girls to get you down. You're a killer, you're strong.' He basically just told me that they need to work to get you down and you need to protect yourself in that way."
For someone bigger than their peers, an Andre the Giant comparison is the consummate compliment. Even better, McMahon is exactly right.
We'll see how it all works out but anticipate seeing Bliss vs. Jax for the remainder of 2017.