Associated Press (AP) news agency announced the launch of a platform for selling its own photos in the form of the non-fungible token (NFT). Thus, the marketplace will be built on the Polygon blockchain, the press release says.
Moreover, the developer of Xooa NFTs will assist the agency in the implementation of the initiative. The launch of the site and the release of the first NFTs will take place on January 31, 2022.
“For 175 years AP’s journalists have recorded the world’s biggest stories, including through gripping and poignant images that continue to resonate today. With Xooa’s technology, we are proud to offer these tokenized pieces to a fast-growing global audience of photography NFT collectors”. Said Dwayne Desaulniers, director of the blockchain and data licensing agency.
The platform will support MetaMask wallets
Each token contains a set of original metadata: time, place, date, equipment, as well as its settings. Once every two weeks, AP plans to hold a Pulitzer Drop – a selection of Pulitzer Prize-winning photographs.
Furthermore, the agency will direct the funds received from the sale of NFT to finance “factual, unbiased AP journalism.”
In addition, the platform will support MetaMask wallets. The plans include cooperation with Fortmatic, Binance and Coinbase; as well as the implementation of additional functions for holders of NFTs.
Associated Press NFT collections
Earlier, the agency put up for auction an NFT dedicated to the 2020 US presidential elections included in the blockchain. The auction ended on March 11, 2021 – the token was sold for 100,888 ETH.
In May, the Associated Press released an NFT collection in honor of the 175th anniversary of the news agency and news journalism.
Later in October, AP joined the Chainlink oracle network. The information that the AP is providing includes financial data, information about election races; as well as sports results. Also, cryptographic signatures are protecting all the materials, confirming their authenticity.