CNN accused of rug pull as it shuts down NFT vault
Vault by CNN lasted 16 times as long as CNN Plus
In the Discord, CNN said it plans to compensate “the thousands of collectors who joined us in this experiment” with distributions based on the purchase price of each wallet’s NFTs as captured on October 6th. In a separate message from CNN, staffer “Jason” said, “The distribution will be either FLOW tokens or stablecoins deposited into each collector’s wallet.
Another member pointed out one hitch resulting from the Vault relying on the Flow blockchain, the same Dapper Labs-made system that underpins NBA Top Shot and NFL All Day.that’s pegged to the value of the US dollar at a minimum of $10 per transaction with a $4 processing fee. The cheapest NFTs on CNN’s marketplace are listed for $19 — if someone owns one of those, their rebate would be around $4, or even less, leaving them with no return if they could withdraw it.
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