CNN is jumping into the NFT business, digital nonfungible tokens depicting historical moments saved in its archives. However, NFT purchasers don’t own the copyright when it comes to the content or don’t have any control over it.
“For 41 years, CNN has gone to extraordinary lengths to document and broadcast the global stories of our time,” the network said in a statement that The Hill communicated.
“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.”
CNN is curating a set of digital collectibles, calling them “Moments,” from its television archives and “minting” them as NFTs using blockchain technology.
For instance, the network could grab a “Moment” from the memorable scene the media outlet taped of a protester holding a shopping bag and standing in front of a line of Chinese tanks during the Tiananmen Square protests. The still image of the event is showcased prominently on the “Vault by CNN” website.
Eduardo Razo is the Assistant Content Editor for BNM, which includes writing daily news stories on the news media industry. He can be found on Twitter @eddierazo_ or you can reach him by email at eddie1991razo@gmail.com.
