Investor angered after CNN abandon its NFT project

Investor angered after CNN

What happened to CNN NFT Project? In a latest news published on Mashable, investors are not happy after CNN halted its NFT Project. The firm just recently made the announcement that it will be closing the Vault (via The Verge). CNN stated that the Vault was initially started as a six-week experiment, but it was then grown into “something much larger.” However, the network did not provide further details behind the shutdown of the service.

CNN started selling non-fungible tokens (NFTs) called Moments in June 2021 when it debuted its Vault platform. These Moments were modeled after some of CNN’s “historical moments.” You might, for instance, get an NFT for the low, low price of $500 based on a CNN report that stated George W. Bush was re-elected. This claim was based on information from CNN.

The Vault by CNN website is still operational, and it appears that purchases of NFTs can be made on that platform. There is no information available regarding the timing of the shutdown or whether or not it will occur at all.

Visit this link for an introduction to non-financial transfers and how they operate. It is sufficient to explain that they are digital currency tokens, each of which possesses distinctive characteristics and cannot be replicated. Furthermore, many of these tokens were extremely pricey when their popularity was at its peak in 2021 and early 2022.

Even while CNN’s viewpoint on NFTs appears ridiculous in light of recent events, the position is not all that dissimilar from that taken by the myriad of other businesses who have jumped on the bandwagon. The non-fungible token (NFT) market, on the other hand, is not what it used to be, as seen by a dramatic reduction in sales volumes and the inability of many NFTs, which were before sold for hundreds or thousands of dollars, to find buyers.

According to the findings of DappRadar, the daily volume of sales at the NFT marketplace OpenSea is now normally about $10 million. This number is significantly lower than the hundreds of millions per day that it was generating in January and February of this year.

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