After just over a year of operations, CNN is shuttering it’s NFT platform, ‘The Vault.’ Despite the crypto and NFT markets enduring substantial downturn throughout a good portion of this year, CNN was operating a modest, relatively under-the-radar NFT project that was the media outlet’s first web3 foray.
Despite nearly half a million dollars worth of sales revenue from the NFT releases on the platform, CNN is pulling the plug, and ‘vaulting The Vault.’ Let’s look at some insights around why the media behemoth is shutting down the platform.
CNN: A Case Study
We covered CNN’s entry into NFTs when the outlet announced their very first collection, ‘Moments That Changed Us,’ around the
GIPHY App Key not set. Please check settings