AP News Agency is Launching NFT Marketplace
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AP News Agency is Launching NFT Marketplace

4mo ago

The Associated Press says the platform will allow avid NFT collectors to buy unique photographs documenting some of the world's biggest news events.

AP News Agency is Launching NFT Marketplace

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One of the world's biggest news agencies has announced that it's launching a marketplace for non-fungible tokens.

The Associated Press says the platform will allow avid NFT collectors to buy unique photographs documenting some of the world's biggest news events.

Every NFT will be accompanied by metadata offering insights into when and where a picture was taken — alongside the equipment and technical settings that were used to achieve the shot.

Images that won the Pulitzer Prize will be among the NFTs offered in initial collections that are due to go on sale from Jan. 31. Photographs relating to space, climate change and war will be available.

In a news release, examples of the photographs that are set to be tokenized include a home covered in ash after a volcano erupted on La Palma in Spain's Canary Islands.

AP has teamed up with Xooa to launch its marketplace, and the NFTs are going to be minted on Polygon, which bills itself as an environmentally friendly network that boasts compatibility with Ethereum. The news agency's director of blockchain and data licensing, Dwayne Desaulniers, 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."

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There aren't any specific details about how much these NFTs will cost — but it seems the AP wants to offer collectibles to match all budgets. Profits from the sale are going to be reinvested into producing journalism.

Collectibles can be bought, sold and traded directly through the AP marketplace. Purchases can be made using credit cards — and support is also going to be offered for crypto wallets and exchanges including MetaMask, Binance and Coinbase in due course.

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