The Associated Press Launches NFT Marketplace Featuring Poignant News Images
By Alexa Heah, 11 Jan 2022
The Associated Press has announced it will be launching a non-fungible token (NFT) marketplace focusing on poignant images taken by the agency’s many photojournalists through the years.
According to CoinDesk, the platform will be built by blockchain firm Xooa, with the initial collection expected to be revealed at the end of January. The subjects could range from climate change to space, war, or even special spotlights on works of prolific AP photographers.
The network will allow collectors to purchase, trade, and sell their digital assets, including transactions on secondary marketplaces. The NFTs will be minted on the Polygon blockchain.
“For 175 years AP’s photographers have recorded the world’s biggest stories through gripping and poignant images that continue to resonate today,” said Dwayne Desaulniers, Director of Blockchain and Data Licensing at the news agency.
As per Insider, collectors looking to get their hands on major moments in history will receive NFTs of the photographers together with the time, date, location, and even the equipment used to shoot the original image. It’s not known if photographs that have won awards such as the Pulitzer Prize will be up for grabs.
In a sense, this venture could be a new way for readers to support journalism. AP currently runs as a not-for-profit organization, and proceeds from the platform will go towards funding its future stories.
“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,” summed up Xooa’s Head of Marketplaces, Zach Danker-Feldman.
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