Associated Press to launch NFT marketplace for selling photographs

The Associated Press (AP) announced the launch of a platform to sell its own photographs as NFTs. The marketplace will be built on the Polygon blockchain, говорится in the press release.

The developer behind non-fungible tokens Xooa will assist the agency in implementing the initiative. The launch of the marketplace and the release of the first NFTs are scheduled for January 31, 2022.

“For 175 years, AP photographers have captured grand moments of world history with striking and moving images that continue to resonate today. With Xooa’s technology, we are proud to offer these tokenized exhibits to a rapidly growing global audience of NFT photography collectors,” said Dwayne Desolniers, AP’s director of blockchain and data licensing.

Each token contains a set of original metadata: time, location, date, equipment, and its settings. Every two weeks, AP plans to run a Pulitzer Drop featuring a selection of Pulitzer Prize-winning photographs.

The proceeds from NFT sales will be used to fund AP’s independent, fact-based journalism.

The platform will support MetaMask wallets. Planned collaborations include Fortmatic, Binance and Coinbase, as well as implementing additional features for NFT holders.

Earlier the agency put up for auction an NFT dedicated to the blockchain-recorded U.S. presidential elections of 2020. Bids closed on March 11, 2021 — the token sold for 100,888 ETH.

In May, the Associated Press released an NFT collection to mark the AP’s 175th anniversary and its journalism.

In October, AP joined the Chainlink oracle network. The launched node will provide developers of dapps access to the data collected by the organization.

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