Associated Press unveils NFT platform partnered with Xooa
Initial collection features images by news agency’s current and former photojournalists
Associated Press has announced the launch of a non-fungible token (NFT) marketplace built by blockchain technology provider Xooa, which debuts on Monday 31 January.
The initial collection will feature photography by current and former Associated Press (AP) photojournalists and a selection of digitally-enhanced depictions of their work, including Pulitzer Prize-winning AP images.
The news agency, which launched its first NFT series in October 2021 on the Binance marketplace, said NFT price points will vary on the Xooa-powered marketplace. “As a not-for-profit news cooperative, proceeds go back into funding factual, unbiased AP journalism,” said the agency.
Dwayne Desaulniers, AP director of blockchain and data licensing, added: “For 175 years AP’s photographers have recorded the world’s biggest stories through gripping and poignant images that continue to resonate today. With Xooa’s technology, we are proud to offer these tokenised pieces to a fast-growing global audience of photography NFT collectors.”
The AP NFTs
The NFTs will be minted on the Polygon blockchain, which is an environmentally-friendly, Ethereum-compatible layer two solution, said AP.
Each NFT will include a rich set of original metadata offering collectors the time, date, location, equipment and technical settings used for the shot, while the initial collection will range from space, climate, war and other images to spotlights on the work of specific AP photographers.
Collectors of all levels will be able to buy, sell and trade official AP digital collectibles through the marketplace. It will support secondary market transactions and purchases using credit card payments as well as crypto wallets.
“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,” said Zach Danker-Feldman, Xooa’s head of marketplaces.
