CNN is humiliating itself after trying to sell non-fungible tokens (NFTs) of its streaming service’s first live moments.
The network recently launched a subscription-based streaming platform called CNN+, which the platform’s chief digital officer Andrew Morse proudly referred to as a “historic moment for CNN.” To commemorate the service’s launch, Morse announced that the “first live moments” of the streaming service would be made available as NFTs.
He called it “The perfect way to celebrate our launch with digital collectors.”
NFTs, which are a form of digital property, have taken off in recent years with the production of collectible art on NFT marketplaces like OpenSea and Rarible. Most notably, the Bored Ape NFTs have sold for hundreds of thousands of dollars thanks to hype driven by popular influencers on Twitch and YouTube.
NFTs typically sell out within moments of being launched.
Unlike the Bored Apes, few bought into CNN’s hype. Since the network premiered its NFT marketplace, it only managed to sell around a third of the digital tokens — selling some 93 out of a total of 250. The NFTs feature Kate Bolduan welcoming viewers to the “first live broadcast” of CNN+.
Fox Business correspondent Charles Gasparino claims that CNN+ employees are already “bracing for layoffs as soon as May amid projections of lackluster sales” for the streaming service. Should the numbers fail to pick up, the streaming channel could find itself getting absorbed into Discovery+, the streaming channel run by CNN’s parent company.
Speaking to the Daily Mail, CNN officials did not deny Gasparino’s claims. “We are very happy with the launch of CNN+ and look forward to its long success ahead,” said a CNN spokesperson.
The launch of CNN+ couldn’t come at a worse time. In February, CNN president Jeff Zucker resigned following an internal investigation into disgraced former host Chris Cuomo, who left under scandalous circumstances. The investigation revealed that Zucker was having an ongoing affair with one of his colleagues.
More recently, unearthed emails revealed that Cuomo helped his older brother Andrew Cuomo, the former New York governor, to help him deny charges that the state deliberately concealed the number of senior citizen deaths from COVID-19 in New York nursing homes, the Daily Wire reported.