CNN is getting into the non-fungible token (NFT) market. Later this month, the media giant will launch “Vault by CNN,” an NFT collection minted on the Flow blockchain featuring moments from the cable news network’s 41-year history.
CNN has not specified the exact moments it will include in the first of six weekly releases, but according to a CNN press release, the collection could feature scenes from U.S. presidential elections, key moments in world history and early CNN exclusive footage.
CNN’s NFT collection is one of many recent attempts by well-known companies, including luxury car manufacturer McLaren, to enter the crowded NFT market. The collection is also noteworthy for being one in a series of recent NFT experiments by television networks, like Fox Entertainment’s $100 million investment in an NFT project with Dan Harmon, creator of the "Rick and Morty" sitcom.
Unlike most NFT collections, the NFTs in the “Vault by CNN” collection can be bought with fiat. Potential buyers must make an account with a digital wallet called Blocto and may then pay for the NFTs with credit cards via Stripe.
According to CNN, the NFT buyers will then “own the digital copy for collectible purposes,” and be able to display their NFTs, called “Moments,” on a user page in CNN’s Vault website. In certain cases, limited edition NFT sets will come with a physical video display case to showcase the purchased Moment.
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