International broadcaster CNN is utilising non-fungible tokens (NFTs) blockchain technology to sell key moments from its archive.
Vault by CNN will house a select set of digital collectibles, or “Moments”, from CNN’s archives.
From the end of this month, CNN will release key Moments from history weekly, each organised around specific themes including early CNN exclusives, world history, and presidential elections.
The winner (tokenholder) of each Moment will own the digital copy for collectible purposes, and will be able to showcase and display their Moments on a user page on Vault by CNN.
The broadcaster says some limited edition sets will include a premium video display case that will render a physical representation of the Moment on a screen.
NFTs are a one-of-a-kind pieces of digital content (such as an image or a video) that is an officially licensed collectible. Ownership is authenticated and verifiable by blockchain – meaning it is the only video, image or gif of that particular moment with a certificate of authenticity. Like other collectibles, people can buy, sell and trade them.
The broadcaster said that while most of the content that CNN releases as NFTs is available for anyone to view on CNN.com, NFTs introduce scarcity through a system that allows ownership through tokens that are unique and can be tracked to verify authenticity.