(Kitco News) - The multinational news broadcaster CNN has announced the abrupt shuttering of Vault by CNN, the company’s nonfungible token (NFT) marketplace that was originally launched in June 2021. “There goes my CNN Vault investment, never would have guessed CNN as a company pulling a rug,” user MM81 said in the Vault by CNN Discord server. Discussions on the community discord indicate that collectors will be able to retrieve some of their originally contributed funds. “We are currently working out the details, but expect the distribution amount to be roughly 20% of the original mint price for each Vault NFT owned,” Discord moderator and Vault by CNN core team member Jason said in a thread. CNN plans to continue operating the Vault Marketplace and the Discord server will stay open until distributions are processed.

Source: CNN October 11, 2022 19:45 UTC