CNN’s NFT marketplace shutdown sparks rug pull accusations
CNN’s NFT marketplace “Vault By CNN” took to Twitter to announce it is shutting down, whipping up community backlash.Some accused CNN of perpetrating a rug pull, while others said they would take legal action against the new company. The marketplace also promised collectors exclusive CNN perks.
The marketplace was launched in the summer of 2021 amid the NFT boom, with the promise that it would “offer collectors the opportunity to own a piece of history.”. Buyers were able to buy collectible “Moments” tied to major news events, historical moments, and artistic renditions of archival media. The NFTs came with utilities like exclusive Discord conversations, and Vault artist chats archive access, and collectors-only articles.
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