CNN shuts down its NFT platform

The planned six-month event has closed after less than four months. The company will also pay a 20% refund.

The project was called "Vault by CNN: Moments That Changed Us," a collection that included a series of tokenized iconic moments from the news over CNN's 41-year history, as well as a vault to acquire, store and display NFT. 

And on October 10th, they announced on their Twitter account that the project had to be shut down. Explaining their decision, CNN said Vault was a "six-week experiment" and "the first step in Web3." 

However, the firm "will no longer develop and support this community." The collection was originally created on the Flow blockchain, with CNN retaining copyright and ownership of the content. Meanwhile, many users of the project's Discord community of more than 1,400 people have expressed their displeasure with the decision. 

One person, RichardRazo, wrote, "As an investor, I don't know if I can expect to break even in a few years. Can CNN share why they think 20% is fair because it seems to me to imply that they hope we can break even or make a profit in a few years, right? If not, it seems like a tug of the carpet."

It's hard to say anything at this point. Still, user dissatisfaction is unlikely to change CNN's plans to shut down the loss-making marketplace.

So what the hell with CNN. You can always find everyday and working projects through Moni Twitter Bor - click here!