Looking for exclusive rights to some of the world’s most moving photographs?
The Associated Press has announced that it will sell the individual rights to its critically acclaimed photographs – modern and historic – as non-fungible tokens (NFTs) on a platform built by blockchain technology provider Xooa.
The NFTs will be served on the Polygon blockchain – an Ethereum-compatible and eco-friendly “layer 2” solution. (Layer 2 solutions enable scalable platforms that maintain the integrity of the Ethereum blockchain, which enables decentralization, transparency, and security while reducing the carbon footprint of the platform, that is- i.e. less gas and less energy used.)
Xooa works with brands to enable NFTs and metaverse marketplaces to ensure the inherent scarcity and collectability of electronic digital items, as well as to encourage a powerful connection between the virtual and real worlds.
“Xooa is proud to work with The Associated Press to launch AP’s NFT Marketplace,” said Zach Danker-Feldman, Head of Markets at Xooa. PA. “In this market rollout, the focus has been on accessibility for all types of collectors to allow them to join a community that shares their interest in stunning photography.”
Photo enthusiasts and investors will be able to seamlessly buy, sell and trade official AP digital collectibles through the new marketplace. AP’s first NFT collection will include photographs from current and former photojournalists at the media company and feature a selection of Pulitzer Prize-winning images. NFTs will range from space to Earth geography and from the bucolic to battles, with spotlights on the work of specific AP photographers.
“For 175 years, AP photographers have recorded the world’s greatest stories through captivating and poignant images that continue to resonate today,” said Dwayne Desaulniers, AP’s director of blockchain and data licensing, in a press release. “With Xooa’s technology, we are proud to offer these token coins to a rapidly growing global audience of NFT photography collectors.”
Each NFT will also include a rich set of original metadata that will provide buyers with information such as the time, date, location, equipment and technical parameters used for the shot.
NFT prices will vary based on demand and popularity. As a nonprofit news cooperative, NFT’s profits will go to the AP to fund factual and unbiased journalism.
The initial collection will be released over a period of several weeks beginning Monday, January 31. Surf the AP website to sign up for updates ahead of the NFT launch at apmarket.xooa.com.
The Polygon blockchain-powered Xooa platform will support secondary market transactions and credit card purchases, including MetaMask. AP plans to add Fortmatic, Binance, and Coinbase accessibility in the future.
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