Associated Press Rolling Out Polygon-powered Photography NFT Platform

By Tracy Hannes | January 11, 2022

The Associated Press (AP) is reportedly rolling out a nonfungible token (NFT) marketplace, offering facilitating features for collectors to buy tokenized photographs from the global news platform.

Specifically, The initial collection of NFTs is reportedly going to come with photographs of subjects like space, climate, and war from AP photojournalists. They will be rolled out within the next few weeks beginning Jan. 31, for a variety of prices. 

The minting of the photographs is reportedly going to be carried out as NFTs on the Ethereum layer-two scaling network – Polygon. The platform offers facilitating features for secondary transactions with the use of debit or credit cards, as well as payments in Ethereum.

The design of the marketplace is reportedly being conducted by Xooa – a blockchain infrastructure platform particularly focusing on creating “white-label NFT marketplaces for brands and IP owners.”

Head of marketplaces at Xooa, Zach Danker-Feldman, reportedly revealed that the new alliance will function as a “powerful connection between the virtual world and the real world.”

Crypto wallet provider Metamask will further receive support, with future alliances to be forged with Fortmatic, Binance, and Coinbase on the cards. Extra features to be rolled out will cover “withdrawals to other marketplaces,” “social media capabilities,” “new content concepts,” and “off-chain benefits” for NFT holders.

Once in a fortnight, a “Pulitzer Drop” will reportedly be available, which will include Pulitzer Prize-winning photographs. Every NFT will come with the particular photograph’s detailed metadata, nominally the time, date, location, equipment, and technical settings used for the photograph.

Per the note from the AP, the profit generated from the NFT sales will reportedly be redirected back to financially supporting AP journalism. 

This is not the first time the news agency is setting its foot in the blockchain sphere. In October last year, the AP teamed up with Chainlink Labs, to make sure the information from its U.S. newspaper and broadcaster members would go through cryptographical verification.

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