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 news cooperative founded in 1846, has announced the news agency is launching a non-fungible token (NFT) marketplace. The AP NFT market was built by the distributed ledger technology provider Xooa and on top of the Polygon blockchain network. AP Announces NFT Marketplace Launch
The 175-year-old news cooperative the Associated Press revealed that the organization is launching an NFT marketplace using the Polygon blockchain network. According to the AP announcement, the NFT market built by Xooa will allow NFT collectors to collect the news agency’s iconic photojournalism. AP’s newly crafted Polygon-based NFT market will launch on January 31, 2022. One of the AP images that will be featured and sold 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 data licensing, explained that the non-profit news cooperative is thrilled to showcase the organization’s Pulitzer Prize-winning images from current 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 release 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 said in a statement 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 initial launch will begin on the last day of January, AP says that the collection will be released over a period of weeks, and “NFT price points will vary.” Proceeds from the NFT sales will go back into funding “factual, unbiased AP journalism.” According to the AP, owners of the AP NFT images can also sell them on secondary markets after the initial sale. AP also details that people can purchase the NFTs with crypto or credit cards.
The AP announcement further highlights that the Polygon blockchain is more “environmentally friendly” than other 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 said on Monday. Tags in this story AP, AP journalism, AP NFT marketplace, AP NFTs, Associated Press, Blockchain, Blockchain tech, Dwayne Desaulniers, Environmentally Friendly, News Cooperative, nft, NFTs, Non-fungible Token, Polygon, Polygon Blockchain, Polygon NFTs, Xooa, Zach Danker-Feldman
What do you think about the Associated Press launching an NFT marketplace? Let us know what you think about this subject in the comments section below. Jamie Redman
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Wind-Breaking NFTs: Reality Star Who Made $200K Selling Farts in Mason Jars Launches NFT Collection BLOCKCHAIN | 2 days ago Martial Arts Icon and Philosopher Bruce Lee Commemorated in NFT Collection Endorsed by Family Company BLOCKCHAIN | 7 days ago
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleIran to Permit Use of Cryptocurrencies in International Settlements, Reports Reveal Next articleBitrue Is Launching a New Yield Farming Hub Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItCrypto Scammer Arrested in Bangkok After Fleeing With 500 Million Baht
A man allegedly behind a cryptocurrency investment scam has been arrested in Bangkok, Thailand. He lured people into investing in his fraudulent crypto scheme by promising high returns, telling investors they could earn a 400% return by investing in just ... read more.Ethereum Hashrate Taps Record-Setting 1 Petahash as ETH’s Mining Profitability Remains High Crypto Exchange Binance Receives Approval in Bahrain — Plans to Become Regulated, Centralized Worldwide This Year"s Top 10 Crypto Asset Gainers Outshined BTC"s and ETH"s 12-Month Returns Bank of Russia Wants to Restrict Crypto Investments by Blocking Card Payments, Report Reveals