The Associated Press will launch a new NFT photography marketplace on January 31, built by blockchain technology provider Xooa.
Almost three months after launching a series of NFTs based on photos and artifacts from its last 100 years of reporting, the Associated Press (AP) is preparing to drop another historic set of photography as non-fungible tokens (NFTs).
In October last year, the AP sold its “Unique Moments” collection on Binance’s NFT marketplace, but it is opting to have its own marketplace built this time. On the platform, collectors will be able to purchase bits from the news agency’s award-winning contemporary and historic photojournalism.
The new AP collection will introduce works from current and former AP photojournalists, a selection of digitally enhanced depictions of their work, and a unique selection of Pulitzer Prize-winning pictures.
The Association’s minted images relate to space, climate, war, and others. In addition, each NFT will be delivered with the image’s rich set of original metadata, meaning that winning bidders will own the image’s “time, date, location, equipment, and technical settings,” as well, according to the press release.
“For 175 years, AP’s photographers have recorded the world’s biggest stories through gripping and poignant images that continue to resonate today,” explains Dwayne Desaulniers, AP director of blockchain and data licensing. “With Xooa’s technology, we are proud to offer these tokenized pieces to a fast-growing global audience of photography NFT collectors.”
The NFTs will be minted on the Polygon blockchain, an environmentally friendly, Ethereum-compatible Layer 2 solution. In addition, the new marketplace will support secondary market transactions with credit card payments and crypto wallets such as MetaMask, and the AP also plans to add support for payments via Fortmatic, Binance, and Coinbase in the future.
Each NFT will have different prices, and all proceeds will be destined to support AP’s journalism.
“Xooa is proud to work with The Associated Press to launch AP’s NFT marketplace. Xooa’s work with brands around NFTs and metaverse marketplaces provides inherent scarcity and utility for collectors as well as a powerful connection between the virtual world and the real world,” said Zach Danker-Feldman, Xooa’s head of marketplaces. “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.”
Image: Jarretera – stock.adobe.com