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January 11, 2022
The Associated Press will launch an NFT marketplace built by blockchain technology provider Xooa, where collectors can purchase the news agency's photojournalism.
Launching on Jan. 31, the initial collection will feature photography by current and former AP photojournalists and a selection of digitally enhanced depictions of their work, including Pulitzer Prize-winning images.
"For 175 years, AP's photographers have recorded the world's biggest stories through gripping and poignant images that continue to resonate today," says Dwayne Desaulniers, director, blockchain and data licensing, AP. "With Xooa's technology, we are proud to offer these tokenized pieces to a fast-growing global audience of photography NFT collectors."
Each NFT will include a set of original metadata offering collectors awareness of the time, date, location, equipment and technical settings used for the shot.
NFTs will range from space, climate, war and other images to spotlights on the work of specific AP photographers. The price points will vary, with proceeds going back toward AP journalism.
Collectors of all levels will be able to seamlessly buy, sell and trade official AP digital collectibles through the marketplace. It will support secondary market transactions and purchases using credit card payments and crypto wallets, including MetaMask, with support for Fortmatic, Binance, and Coinbase to come.
The NFTs will be minted on the Polygon blockchain, an environmentally friendly, Ethereum-compatible layer two solutions.
"Xooa is proud to work with The Associated Press to launch AP's NFT marketplace," says Zach Danker-Feldman, head of marketplaces, Xooa. "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. 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."
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