175-Year-Old News Partners With The Associated Press To Launch NFT Marketplace – Blockchain Bitcoin News

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

The Associated Press announces the launch of the NFT market

The Associated Press, a 175-year-old news cooperative, has revealed that the group is launching an NFT marketplace using the Polygon blockchain network. According to the AP announcement, the NFT marketplace established by Xooa will allow NFT collectors to collect the news agency’s iconic photojournalism. AP’s new Polygon-based NFT marketplace will launch on January 31, 2022.

175-Year-Old News Partners With The Associated Press To Launch NFT Marketplace
One of the AP images that will be displayed and sold as an NFT is “A Pulitzer Prize-winning photo of a Jewish settler challenging Israeli security officials in the West Bank settlement of Amona on February 1, 2006.” (AP Photo/Oded Balilty)

Dwayne Desaulniers, director of blockchain and data licensing at AP Community, explained that the nonprofit news cooperative is pleased to showcase the organization’s Pulitzer Prize-winning images from current and former AP photojournalists. “Each NFT will contain a rich set of raw metadata, allowing collectors to understand the time, date, location, equipment and technical settings that were taken,” the Associated Press press release states.

“For 175 years, Associated Press photographers have documented the world’s biggest stories through gripping, poignant images that still resonate today,” Desaulniers said in a statement Monday. “With Xooa’s technology, we are proud to make these tokenized works available to the rapidly growing global audience of photographic NFT collectors.”

Proceeds from NFT marketplace sales will be used to fund AP News

While the initial launch will begin on the last day of January, AP said the series will be released within a few weeks and that “the price points of NFTs will vary.” Proceeds from NFT sales will be repurposed to fund “True and Unbiased Associated Press News.” Owners of AP NFT images can also sell them on the secondary market after the initial sale, according to The Associated Press. The Associated Press also detailed that people can buy NFTs using cryptocurrencies or credit cards.

The Associated Press announcement further emphasized that the Polygon blockchain is more “green” than other blockchain networks. Zach Danker-Feldman, head of marketing at Xooa, said on Monday: “In this market deployment, the focus is on accessibility for collectors of all types to enable them to join a group interested in stunning photography. Community.”

tags in this story

Associated Press, AP News, AP NFT Market, AP NFT, Associated Press, blockchain, blockchain technology, Dwayne Desaulniers, environmental Protection, news cooperative, nft, NFT, non-fungible token, polygon, Polygon Blockchain, Polygon NFT, Xu Ah, Zach Danke-Feldman

What do you think of AP’s launch of the NFT marketplace? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is Head of News at Bitcoin.com News and a fintech reporter living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written over 5,000 articles for Bitcoin.com News on the disruptive protocols emerging today.

Image Source: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for reference only. It is not a direct offer or invitation to offer, nor is it a recommendation or endorsement of any product, service or company. Bitcoin Network 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 or related to the use of or reliance on any content, goods or services mentioned herein.

Source link