Associated Press Launching NFT Marketplace for Its Photographs
The marketplace will be built by blockchain technology firm Xooa, with NFTs to be minted on the Polygon blockchain.
The Associated Press news agency is launching a non-fungible token (NFT) marketplace for collectors to purchase photographs taken during its 175-year history.
- The marketplace is being built by blockchain tech firm Xooa and the NFTs will be minted on the Polygon blockchain.
- The initial collection will be released over several weeks starting on Jan. 31, with subjects ranging from space, climate and war to spotlights on the work of specific AP photographers.
- Each NFT will include detailed metadata showing the time, date, location, equipment and technical settings used for the photograph.
- Last June, CNN launched The Vault, an NFT collection of top news moments from its 41-year history, on the Flow blockchain.
- The marketplace will support secondary market transactions and purchases using credit card payments as well as crypto wallets, including MetaMask, with support for Fortmatic, Binance and Coinbase to come.
- The AP, which is a non-profit news cooperative, noted that proceeds will go back toward funding its journalism.
UPDATE (January 10, 22:29 p.m. UTC): Adds bullet points on credit card payments and proceeds.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.