On January 10, 2022, the Associated Press (AP), the American non-profit news cooperative founded in 1846, has announced the news agency is launching a non-fungible token (NFT) marketplace. The AP NFT market was built by the distributed ledger technology provider Xooa and on top of the Polygon blockchain network.
AP announces the launch of the NFT marketplace
The 175-year-old Associated Press cooperative revealed that the organization is launching an NFT marketplace using the Polygon blockchain network. According to AP’s announcement, the NFT Marketplace built by Xooa will allow NFT collectors to collect the news agency’s iconic photojournalism. AP’s new polygon-based NFT marketplace will launch on January 31, 2022.
Dwayne Desaulniers, AP director of blockchain and data licensing, explained that the non-profit news cooperative is thrilled to showcase the organization’s Pulitzer Prize-winning images from current and former AP photojournalists. “Each NFT will include a rich set of original metadata offering collectors awareness of the time, date, location, equipment, and technical settings used for the shot,” the AP press release notes.
“For 175 years, AP photographers have recorded the world’s greatest stories through gripping and poignant images that continue to resonate today,” Desaulniers said in a statement Monday. “With Xooa’s technology, we are proud to offer these symbolic pieces to a rapidly growing global audience of NFT photography collectors. “
Proceeds From the NFT Market’s Sales Will Go Back to Funding AP Journalism
While the initial launch will begin on the last day of January, AP says that the collection will be released over a period of weeks, and “NFT price points will vary.” Proceeds from the NFT sales will go back into funding “factual, unbiased AP journalism.” According to the AP, owners of the AP NFT images can also sell them on secondary markets after the initial sale. AP also details that people can purchase the NFTs with crypto or credit cards.
The AP’s announcement further emphasizes that the Polygon blockchain is more “green” than other blockchain networks. “In this market rollout, the focus has been on accessibility for all types of collectors to enable them to join a community that shares their interest in stunning photography,” Zach Danker-Feldman, Manager, said on Monday. Xooa markets.
