CNN is selling its significant news moments as NFT
CNN is selling the launch of Vault by CNN: Moments That Changed Us – a fresh non-fungible token (NFT). Blockchain technology is delivering for CNN users. For 41 years, CNN has gone to extraordinary lengths to broadcast and document the global stories of our time.
CNN will house a choice set of digital collectibles-
From CNN’s television archives, mint them as NFTs using blockchain technology and trade them at vault.cnn.com. The early launch will include six weekly falls of Moments, starting in late June 2021. Their facility will include key historical moments prepared around exact themes including early CNN exclusives, world history, and Presidential Elections.
Users can believe future drops of Moments to comprise an even wider variety of digital collectible topics and formats as Vault by CNN. It raises and adapts to its community of collectors. The winner (token holder) of every Moment will own the digital copy for collectible drives.
Tokenholders will be able to display cabinet and show their Moments on a user page in the Vault. Some partial edition sets will comprise a premium video display case that will concentrate a physical representation of the Moment on a screen. CNN on Wednesday broadcasted the cable news channel would sell "moments'' from its television records as non-fungible tokens.
The reason behind it-
* NFTs have qualified people to become owners of unique digital property, allowing content creators to rake in fortunes.
* The initial launch will include six weekly drops of Moments, starting in late June 2021," the company mentioned.
* Offerings will involve the key historical moments prepared around specific themes including initial CNN exclusives, world history, and Presidential Elections."
Other media companies have previously ventured into space including The New York Times, Time and Playboy. It makes sense that anyone would need to experiment with NFTs, especially a media company that assembles in lots of significant IP.
Our thought bubble, from Axios' Sara Fischer: I think, in the short-term, there are ways to make money off of moments, IP or ideas. Some practices connect creators with audiences and have short-term upside.
CBW - External Analyst