CNN Announces It's Going to Auction News NFTs
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CNN Announces It's Going to Auction News NFTs

1 year ago

A brand-new "vault" is going to include some of the biggest moments of the past 40 years.

CNN Announces It's Going to Auction News NFTs

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CNN has announced it is getting into the NFT market.

The American news network is set to release crypto collectibles highlighting some of the most memorable moments in history from the past 40 years.

"Vault by CNN" is set to include presidential elections, space discoveries, and exclusive footage filmed by the cable channel.

Known as Moments, the NFTs are described as "officially licensed digital collectibles, authenticated and verifiable by blockchain technology."

Those who purchase these tokens will be able to showcase them through a dedicated page on CNN's website, or in another virtual environment.

The NFTs are going to be auctioned off on the channel's website. In a sign that gamification is going to be encouraged, those who buy Moments will be given "exclusive rewards" if they complete sets around certain themes.

But… Why?

On the face of it, the idea of news footage being sold in tokenized form may not seem an arresting notion. But explaining its rationale, the broadcaster said: 

"In the past, collectors have sought out original print editions of newspapers or magazines featuring historical events. But for decades, we've mostly experienced news and historical events through screens in our living rooms and in our hands."

CNN hopes that its vault will give anyone the opportunity to own a piece of history, reliving Moments "that mean something to them."

The network added that cryptocurrencies won't necessarily be required to make a purchase, and the NFTs are being issued on the Flow blockchain to ensure that the tokens don't have an impact on the environment.

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