The Associated Press launched Photograph NFT Marketplace

• The Associated Press plans to deploy the NFT platform for the purchase of tokenized images through its global news marketplace.

• Users will be able to purchase tokenized images from the worldwide news platform, the collection will feature photos of various themes such as space, conflict, and climate.

The NFT sector is becoming a popular way to tokenize precious memories and goods. The Associated Press, for example, has just begun tokenizing images. The Associated Press plans to deploy the NFT platform for the purchase of tokenized images through its global news marketplace.

The AP photojournalists will construct the first NFTs collection, which will feature photos of various themes such as space, conflict, and climate. According to the platform’s website, the rollout will take place over many weeks beginning on January 31 and will come at varied costs.

NFT marketplaces with a white label for brands and IP owners

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The Associated Press (AP) will launch a nonfungible token (NFT) marketplace where collectors will be able to purchase tokenized images from the worldwide news platform.

The initial collection of NFTs will feature AP photojournalists’ images of themes such as space, climate, and conflict. According to the marketplace’s website, they will be available for purchase over a period of several weeks beginning on January 31 at different costs.

The images will be minted as NFTs on Polygon, an Ethereum layer-two scaling network. Secondary transactions using debit or credit cards, as well as payments in Ether, will be supported by the platform (ETH).

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Xoom, a blockchain infrastructure firm that specializes in creating “white-label NFT markets for brands and IP owners,” is establishing the marketplace.

According to Zach Danker-Feldman, Xooa’s head of markets, the collaboration will act as a “strong bridge between the virtual world and the real world.”

Advantages for New AP NFT Holders

MetaMask is supported by Binance, Coinbase, and Fortmatic on the horizon. New content concepts, withdrawals to other markets, off-chain advantages, and social media capabilities are among the additional services that are expected for its NFT holders.

Every two weeks, there will also be a Pulitzer Drop, which will contain Pulitzer Prize-winning photos. In addition, each NFT will have complete information about the shot. 

The AP declared that proceeds from the sale of the NFT will be used to finance AP journalism. The Associated Press is a non-profit news organization based in New York City that has been in operation for 175 years. The company allows secondary market transactions by collecting a charge of up to 10%.

This is not the AP’s first foray into the blockchain business

The AP collaborated with blockchain oracle developer Chainlink Labs in October to run a Chainlink node and use the network to produce cryptographically-signed data that cannot be tampered with. The Associated Press intended to utilize Chainlink to collect data such as sports scores, election outcomes, and firm financial reports.

Previously, the Associated Press utilized blockchain encyclopedia Everipedia to release its estimate in November 2020.