Associated Press gears up to launch NFT marketplace

Associated Press gears up to launch NFT marketplace

BUSINESS

Associated Press gears up to launch NFT marketplace

Associated Press will launch its NFT marketplace on January 31, exhibiting award-winning photos.

01/11/2022

Associated Press gears up to launch NFT marketplace

Associated Press is soon to launch the NFT marketplace to monetize its award-winning photographs.

In the press release, the American news agency AP has confirmed its partnership with the blockchain provider firm Xooa to launch a non-fungible token marketplace. 

AP director of blockchain and data licensing Dwayne Desaulniers, expressed, “With Xooa’s technology, we are proud to offer these tokenized pieces to a fast-growing global audience of photography NFT collectors.”

AP’s NFT marketplace monetizing its photojournalism

Since 1846, the non-profit news organization Association Press has documented the biggest stories around the globe. Desaulniers also pointed out their photographers have captured impactful images for 175 years. 

When minting NFT, AP’s NFT marketplace will use Polygon blockchain. According to the announcement, “The marketplace and first NFTs are set to debut on Monday, Jan. 31.”

In fact, the unique digital marketplace will include selling Pulitzer Prize-winning photos. It will showcase different categories depending on AP photographers’ works of art.  

Every item will incorporate a set of original metadata, giving information about the image. Metadata contains details such as “time, date, location, equipment and technical settings used for the shot.”

Associated Press flourishing its news organization

Meanwhile, the proceeds will serve as additional funding to support the not-for-profit AP journalism. The announcement does not state any early access methods. 

Collectors can buy, sell, and trade on the NFT marketplace. AP’s announcement added: “It will support secondary market transactions and purchases using credit card payments as well as crypto wallets…”

Xooa’s head of marketplaces, Zach Danker-Feldman, expressed that their firm is proud to collaborate with AP in launching the NFT marketplace. 

“In this marketplace deployment, emphasis has been placed on accessibility for all types of collectors to empower them to join a community that shares their interest in stunning photography.”

By Marielle Petere Wozinga Staff

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