Associated Press to Launch NFT Photo Marketplace

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News agency Associated Press (AP) has announced the launch of a platform for selling its own photographs as NFTs. The marketplace will be built on the Polygon blockchain, according to the press release shared by the company.

The developer of non-fungible tokens Xooa will help the agency in implementing the initiative. The launch of the site and the release of the first NFTs is expected to take place on January 31.

Dwayne Dwayne Desolniers, director of the blockchain and data licensing agency, said:

“For 175 years, AP photographers have captured the world’s epic stories with breathtaking and moving images that continue to resonate today. Thanks to Xooa technology, we are proud to offer these tokenized artifacts to a rapidly growing global audience of NFT photo collectors.”

Each token contains a set of original metadata: time, place, date, equipment, as well as its settings. AP is planning a biweekly Pulitzer Drop, a collection of Pulitzer Prize-winning photographs.

The proceeds from the sale of NFT will be used by the agency “to fund AP’s impartial and fact-based journalism.”

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 non-fungible tokens.