CNN debuting into NFT market via selling historic news moments pieces
Media company CNN announced the launch of collectible historic moments from the news.
The company has not revealed which specific historic moments will be tokenized, it is expected to cover themes including CNN exclusives, notable firsts, world history, and presidential elections.
The launch will include six weekly drops starting from late June, with CNN teasing the first drops may depict space travel and election results. The NFTs will be sold in a combination of open and limited editions. Users will need to sign up to CNN’s vault, where their moments will be stored.
All the tokens will be minted on the Flow blockchain, which is also home to NBA Top Shot, which has had huge success selling iconic sporting ‘moments’. CNN chose Flow for its energy-efficient proof-of-stake (PoS) consensus mechanism.
However, cryptocurrency is not be required to purchase tokens, with the platform accepting credit cards via third-party payment platform Stripe. The vault’s description reads:
“Until now, there has been no way to 'collect' these moments. Users can often find old footage online, or packaged up in documentaries, but they cannot 'own' them or display them in the way they can with a print newspaper or magazine.”
The media company has also partnered with video framing firm Infinite Objects so that users will have the option of rendering their NFT onto a screen and displaying it physically offline.
Despite putting forward ownership as a value proposition of the NFTs, they note that “CNN retains copyright and ownership over the content.”
CNN’s move into NFTs follows Fox Corp’s announcement of a $100 million creative fund for NFT content creation yesterday to accompany its animated tv shows.