CNN accused of rug pull because it abandons its NFT mission


Image representing NFTs with pixelated blocks made up of purple squares.
Illustration by Alex Castro / The Verge

On Monday afternoon, as identified by Parker Molloy, CNN ended its large Web3 mission by saying, “we have now determined that it’s time to say goodbye to the Vault by CNN.”

You might have already forgotten about it, however Vault by CNN launched in the summertime of 2021 as a market for its personal NFTs (non-fungible tokens) that will “supply collectors the chance to personal a chunk of historical past.” Type of like NBA High Shot apart from media nerds as an alternative of basketball nerds, it minted CNN experiences of key occasions or creative interpretations impressed by them, creating digital collectibles that house owners might showcase one way or the other or commerce with others, like baseball playing cards. This concept apparently appeared extra cheap whereas cryptocurrency costs had been sky-high, and…

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