June 16th, 2021–CNN announced today the launch of Vault by CNN: Moments That Changed Us – a new non-fungible token (NFT) blockchain technology offering for CNN users. For 41 years, CNN has gone to extraordinary lengths to document and broadcast the global stories of our time. Now, the network and digital news powerhouse is opening its archives for the first time to offer collectors the opportunity to own a piece of history.
Vault by CNN will house a select set of digital collectibles, or ‘Moments’, from CNN’s television archives, mint them as NFTs using blockchain technology, and sell them at vault.cnn.com
The initial launch will include six weekly drops of Moments, starting in late June 2021. Offerings will include key historical moments organized around specific themes including early CNN exclusives, world history, and Presidential Elections. Users can expect future drops of Moments to include an even wider range of digital collectible topics and formats as Vault by CNN grows and adapts to its community of collectors.
The winner (tokenholder) of each Moment will own the digital copy for collectible purposes. Tokenholders will be able to showcase and display their Moments on a user page in the Vault. Some limited edition sets will include a premium video display case that will render a physical representation of the Moment on a screen.
Visit vault.cnn.com for more information and to follow the weekly drops of NFT offerings.
What is an NFT?
An NFT (non-fungible token) is a one-of-a-kind piece of digital content (such as an image or a video) that is an officially licensed collectible. The NFT’s ownership is authenticated and verifiable by the blockchain, a technology used for things like bitcoins. That means while copies of videos, images and even animated gifs can multiply on the internet, there can be only one with a certificate of authenticity. Like other collectibles, people can buy, sell and trade them.
What is a ‘Moment’ from Vault by CNN?
‘Moments’ are CNN digital collectibles that will be housed on Vault by CNN and minted as NFTs.
Why is CNN exploring NFTs?
Since the dawn of television, people have experienced history through video, connecting with journalism on a personal basis. 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.
NFTs enable a new way to own digital content. While most of the content that CNN releases as NFTs is available for anyone to view on CNN.com, NFTs introduce scarcity through a system that allows ownership through tokens that are unique and can be tracked to verify authenticity.
What does it mean to own a ‘Moment’ from CNN?
There are multiple ways that CNN users will be able to showcase the NFTs or ‘Moments’ they purchase. They will have a user page on vault.cnn.com where they can display them. CNN is also partnering with Infinite Objects to offer limited edition sets that come with a video display case that will render their NFT on a screen, a physical representation of their NFT that can be displayed on a desk or bookshelf.
What kind of Moments will CNN make available?
For the initial launch, CNN will release six weekly drops organized around themes including early CNN moments, world history, Presidential elections, technology, space travel and notable “firsts.” Examples may include declaring the results of a Presidential Election to Space Shuttle launches and exclusive CNN moments through the years. Stay tuned and keep an eye on vault.cnn.com for updates.
How will the Moments be sold?
CNN will experiment with a variety of selling formats including both open editions and limited editions.
How will monetization work?
Payment Collection: Payment will be collected through Stripe, a 3rd party vendor that enables easy collection of payment via credit cards. No cryptocurrency is required to buy an NFT from CNN.
Digital Wallet: Users will be required to create an account with digital wallet Blocto in order to make transactions.
How is CNN being environmentally conscious in this new venture?
CNN is building on the Flow blockchain, which uses a proof-of-stake system, in which the capital cost comes from stakeholders holding tokens in the system, not from hardware and electricity.
How can users provide general feedback or suggest NFT offerings?
Please visit vault.cnn.com/feedback.