NFT

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

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 information cooperative based in 1846, has introduced the information company is launching a non-fungible token (NFT) market. The AP NFT market was constructed by the distributed ledger know-how supplier Xooa and on high of the Polygon blockchain community.

AP Announces NFT Marketplace Launch

The 175-year-old information cooperative the Associated Press revealed that the group is launching an NFT market utilizing the Polygon blockchain community. According to the AP announcement, the NFT market constructed by Xooa will enable NFT collectors to gather the information company’s iconic photojournalism. AP’s newly crafted Polygon-based NFT market will launch on January 31, 2022.

175-Year-Old News Cooperative the Associated Press Plans to Launch NFT Marketplace
One of the AP pictures that can be featured and offered as an NFT is a “Pulitzer Prize-winning photo of a Jewish settler challenging Israeli security officers in the West Bank settlement of Amona, Feb. 1, 2006.” (AP Photo/Oded Balilty)

Dwayne Desaulniers, AP director of blockchain and information licensing, defined that the non-profit information cooperative is thrilled to showcase the group’s Pulitzer Prize-winning pictures from present and former AP photojournalists. “Each NFT will include a rich set of original metadata offering collectors awareness of the time, date, location, equipment, and technical settings used for the shot,” the AP press launch notes.

“For 175 years AP’s photographers have recorded the world’s biggest stories through gripping and poignant images that continue to resonate today,” Desaulniers mentioned in an announcement on Monday. “With Xooa’s technology, we are proud to offer these tokenized pieces to a fast-growing global audience of photography NFT collectors.”

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

While the preliminary launch will start on the final day of January, AP says that the gathering can be launched over a interval of weeks, and “NFT price points will vary.” Proceeds from the NFT gross sales will return into funding “factual, unbiased AP journalism.” According to the AP, homeowners of the AP NFT pictures may also promote them on secondary markets after the preliminary sale. AP additionally particulars that individuals should purchase the NFTs with crypto or bank cards.

The AP announcement additional highlights that the Polygon blockchain is extra “environmentally friendly” than different blockchain networks. “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,” Zach Danker-Feldman, Xooa’s head of marketplaces mentioned on Monday.

What do you consider the Associated Press launching an NFT market? Let us know what you consider this topic within the feedback part under.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a monetary tech journalist residing in Florida. Redman has been an lively member of the cryptocurrency group since 2011. He has a ardour for Bitcoin, open-source code, and decentralized functions. Since September 2015, Redman has written greater than 5,000 articles for Bitcoin.com News concerning the disruptive protocols rising at this time.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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