Vault by CNN Lets Users Own Iconic Moments as NFTs
Laura McQuarrie — June 17, 2021 — Tech
References: vault.cnn & designtaxi
NFTs (non-fungible tokens) are making headlines since some works of art and memes are selling for millions of dollars, and now that everything from videos and GIFs to photos are being tokenized, Vault by CNN is launching to help peope collect iconic moments in time. The platform, debuting later this month, will give users the opportunity to purchase news clips and display them on their own Vault page.
As CNN recognizes, how and what collectors collect is changing and with this platform, "a collector has a way to “collect” those original digital Moments as well as track those Moments to verify authenticity."
To start, CNN says that it will be releasing a series of weekly drops based on different themes such as notable "firsts," breakthroughs in science and technology, CNN exclusives and more.
As CNN recognizes, how and what collectors collect is changing and with this platform, "a collector has a way to “collect” those original digital Moments as well as track those Moments to verify authenticity."
To start, CNN says that it will be releasing a series of weekly drops based on different themes such as notable "firsts," breakthroughs in science and technology, CNN exclusives and more.
Trend Themes
1. NFT Collection Platforms - The rise of NFTs presents an opportunity for additional NFT collection platforms, like Vault by CNN, to take advantage of the growing interest in owning digital assets.
2. News Media Nfts - The news media industry has an opportunity to capitalize on the NFT trend, with platforms like Vault by CNN offering users the opportunity to own iconic moments in news as NFTs.
3. Authenticity Verification - As more digital assets become tokenized, there is a disruptive opportunity for companies to create verification systems like Vault by CNN's to ensure the authenticity of NFTs and digital collectibles.
Industry Implications
1. Art NFT Platforms - Art NFT platforms like Nifty Gateway and Super Rare can learn from Vault by CNN's approach of offering unique weekly drops of collectibles targeting a specific theme or audience.
2. Sports NFT Auctions - The sports industry can leverage the NFT trend for auctions of iconic sports moments, like game-winning shots or championship victories, for collectors to own as NFTs.
3. Blockchain Verification - As the use of NFTs and digital collectibles increase, there is an opportunity for blockchain verification providers to develop systems to ensure the authentication of digital assets as genuine.
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