175-Year-Old News Cooperative the Associated Press Plans to Launch NFT Marketplace

On January 10, 2022, the Associated Press (AP), the American non-profit quality cooperative founded successful 1846, has announced the quality bureau is launching a non-fungible token (NFT) marketplace. The AP NFT marketplace was built by the distributed ledger exertion supplier Xooa and connected apical of the Polygon blockchain network.

AP Announces NFT Marketplace Launch

The 175-year-old quality cooperative the Associated Press revealed that the enactment is launching an NFT marketplace utilizing the Polygon blockchain network. According to the AP announcement, the NFT marketplace built by Xooa volition let NFT collectors to cod the quality agency’s iconic photojournalism. AP’s recently crafted Polygon-based NFT marketplace volition motorboat connected January 31, 2022.

One of the AP images that volition beryllium featured and sold arsenic an NFT is simply a “Pulitzer Prize-winning photograph of a Jewish settler challenging Israeli information officers successful the West Bank colony of Amona, Feb. 1, 2006.” (AP Photo/Oded Balilty)

Dwayne Desaulniers, AP manager of blockchain and information licensing, explained that the non-profit quality cooperative is thrilled to showcase the organization’s Pulitzer Prize-winning images from existent and erstwhile AP photojournalists. “Each NFT volition see a affluent acceptable of archetypal metadata offering collectors consciousness of the time, date, location, equipment, and method settings utilized for the shot,” the AP property merchandise notes.

“For 175 years AP’s photographers person recorded the world’s biggest stories done gripping and poignant images that proceed to resonate today,” Desaulniers said successful a connection connected Monday. “With Xooa’s technology, we are arrogant to connection these tokenized pieces to a fast-growing planetary assemblage of photography NFT collectors.”

Proceeds From the NFT Market’s Sales Will Go Back to Funding AP Journalism

While the archetypal motorboat volition statesman connected the past time of January, AP says that the postulation volition beryllium released implicit a play of weeks, and “NFT terms points volition vary.” Proceeds from the NFT income volition spell backmost into backing “factual, unbiased AP journalism.” According to the AP, owners of the AP NFT images tin besides merchantability them connected secondary markets aft the archetypal sale. AP besides details that radical tin acquisition the NFTs with crypto oregon recognition cards.

The AP announcement further highlights that the Polygon blockchain is much “environmentally friendly” than different blockchain networks. “In this marketplace deployment, accent has been placed connected accessibility for each types of collectors to empower them to articulation a assemblage that shares their involvement successful stunning photography,” Zach Danker-Feldman, Xooa’s caput of marketplaces said connected Monday.

What bash you deliberation astir the Associated Press launching an NFT marketplace? Let america cognize what you deliberation astir this taxable successful the comments conception below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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