The Web3 project Vault launched by CNN announced that it will cease operations and compensate its NFT holders

ChainCatcher news, the Web3 project Vault launched by CNN has announced on Twitter that it will cease operations. The Discord community administrator for the project stated that partial compensation will be provided to users who purchased NFTs, either in FLOW or in stablecoin, with the expected compensation amount being 20% of the initial purchase of the NFT.

It is reported that Vault was created in 2021 to offer buyers NFTs commemorating significant news events. After the announcement, community users expressed shock at the sudden closure of the project, with some users stating that this move is a "Rug Pull" behavior. (Decrypt)