CNN Faces Rug Pull Accusations Amid NFT Marketplace Closure
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Oct. 11, 2022

CNN is winding down the development of its own NFT marketplace Vault after a year of selling digital collectibles on it, The Verge reports.

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While no exact reason for the closure has been announced, a spokesperson for CNN said that Vault plans to compensate the "thousands of collectors who joined us in this experiment." The compensation rate will be based on the snapshot as of October 6.

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The compensation payments will be either FLOW tokens or stablecoins. However, the crypto community doesn't seem to be glad about the move, accusing CNN of a rug pull. The Verge pointed out that Discord's announcement was the very first time CNN described its NFT marketplace as "experiment."

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