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

On January 10, 2022, the Associated Press (AP), an American non-profit news association founded in 1846, announced that the news agency is launching a marketplace for non-fungible tokens (NFT). The AP NFT Marketplace is built by distributed ledger technology provider Xooa and on top of the Polygon blockchain network.

AP announces the launch of the NFT Marketplace

The 175-year-old news company Associated Press revealed that the organization is launching a marketplace for NFT using the Polygon blockchain network. According to the AP’s announcement, the NFT Marketplace created by Xooa will allow NFT collectors to collect press photos featured for the news agency. AP’s newly designed Polygon-based NFT marketplace will launch on January 31, 2022.

175-Year-Old News Cooperative The Associated Press Plans to Launch NFT Marketplace
One of the Associated Press photographs that will be displayed and sold as NFT is “A Pulitzer Prize-winning photograph of a Jewish settler challenging Israeli security officers in the West Bank settlement of Amona, February 1, 2006.” (AP Photo/Oded Balilty)

Dwayne Desaulniers, AP’s director of blockchain and data licensing, explained that the non-profit news collaborative is thrilled to showcase the organization’s Pulitzer Prize-winning photos from current and past AP photographers. “Each NFT will include a rich set of original metadata that provides collectors with awareness of the time, date, location, equipment and technical settings used in the shot,” the AP press release notes.

“For 175 years, Associated Press photographers have chronicled the world’s greatest stories with poignant and poignant images that still resonate today,” Desolnier said in a statement Monday. “With Xooa Technology, we are proud to offer these iconic pieces to a rapidly growing global audience of NFT photography enthusiasts.”

NFT market sales revenue will go back to AP Press Funding

While the initial launch will begin on the last day of January, the AP says the collection will be released over a period of weeks, and “NFT price points will vary.” Proceeds from NFT sales will go towards funding “The Associated Press’s Factual and Unbiased Journalism”. According to AP, owners of AP NFT images can also sell them in secondary markets after the initial sale. The AP also states that people can purchase NFTs using crypto or credit cards.

The AP announcement also highlights that the Polygon blockchain is more “greener” than other blockchain networks. “In this market publication, the focus has been placed on accessibility for all types of collectors to enable them to join a community that shares their interest in amazing photography,” Zach Danker-Feldman, President of Xooa Markets, said Monday.

Tags in this story

AP, AP Journalism, AP NFT marketplace, AP NFTs, Associated Press, Blockchain, Blockchain Technology, Dwayne Desaulniers, Environmentally friendly, News Cooperative, nft, NFTs, Non-fungible Token, Polygon, Polygon Blockchain, Polygon NFTs, Xooa, Zach Danker -Feldman

What do you think of the Associated Press launching the NFT market? Tell us what you think about it in the comments section below.

Jimmy Redman

Jamie Redman is the head of news at Bitcoin.com News and a technology financial journalist based 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.

photo credits: Shutterstock, Pixabay, Wikicommons

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