Associated Press (AP) is launching an NFT marketplace.
In the ap.org official press release, AP announced that they would launch a non-fungible token (NFT) marketplace built by blockchain technology provider Xooa. Xooa specializes in building NFT marketplaces for brands and IP owners.
The marketplace and first NFTs will debut on Monday, Jan. 31. Dwayne Desaulniers, AP director of blockchain and data licensing, said:
“For 175 years, AP’s photographers have recorded the world’s biggest stories through gripping and poignant images that continue to resonate today; With Xooa’s technology, we are proud to offer these tokenized pieces to a fast-growing global audience of photography NFT collectors.”
The initial collection will include a selection of digital images of photographs from current and former AP photojournalists. Images of Pulitzer Prize-winning APs will also be included.
“The NFTs will be minted on the Polygon blockchain, which is an environmentally friendly, Ethereum-compatible layer two solutions.”
Each NFT will include information on the time, date, location, equipment, and technical settings used for the photoshoot. Starting from Jan 31st, NFTs will range from space, climate, war, and other categories to spotlight AP photographers’ work. NFT pricing range will vary. The proceeds will go to fund AP’s unbiased journalism.
All NFTs Collectors will be able to buy, sell, and trade official AP digital collectibles through the marketplace. It will support credit card payments as well as cryptocurrency wallets including MetaMask, Binance, and Coinbase.