Associated Press (AP), the American non-profit news cooperative founded in 1846, announced its launch of a non-fungible token (NFT) marketplace on January 10, 2022. Based on the Polygon blockchain network, the AP NFT market was created by Xooa, a distributed ledger technology provider.
In the United States, Associated Press (AP) is the oldest and largest cooperative news agency (wire service). It is long considered one of the more important news organizations globally.
AP is an independent, global news organization that specializes in factual reporting. Founded in 1846, AP is still one of the most trusted sources of fast, accurate, and unbiased news and a leader in technology and services, essential to the news industry.
AP announces the launch of the NFT Marketplace:
Associated Press, a 175-year-old news cooperative, recently announced launching an NFT marketplace using the Polygon blockchain network. A new NFT market created by Xooa will allow NFT collectors to collect the news agency’s iconic photojournalism. AP’s newly designed Polygon-based NFT market will launch on January 31, 2022.
Dwayne Desaulniers, AP vice president of blockchain and data licensing, said the non-profit news cooperative is excited to showcase Pulitzer Prize-winning images from current and former AP photojournalists.
In a press release, the Associated Press reports that each NFT includes “a rich set of original metadata offering collectors a detailed understanding of the shot’s time, date, equipment, and technical settings.”
“We are proud to offer these tokenized pieces to a fast-growing global audience of photography NFT collectors with Xooa’s technology.” NFT sales will contribute to funding “factual, unbiased AP journalism” after the initial launch on the last day of January. The collection will be released over the course of a few weeks at different prices.
After the initial sale, owners of the AP NFT images can also sell them on secondary markets. AP also reports people can purchase NFTs with credit cards or crypto. Furthermore, Polygon’s blockchain is environmentally friendly compared to other blockchain networks.
“Whenever we deploy a marketplace, our goal is to make it accessible for different types of collectors so that they can join a community of people who share their interest in stunning photography,” Zach Danker-Feldman, Xooa’s head of marketplaces, said on Monday.
