The global news giant Associated Press (AP) has announced the launch of its own NFT marketplace for tokenized photography collectors. To bring the innovative project to life, the AP has teamed up with the Xooa blockchain marketplace building company.
According to the media platform, the initial NFT collection will feature art on pressing topics like space, climate, and war to spotlight the work of the AP photographers. The first-ever (but definitely not the last) Associated Press photography NFTs are said to drop on January 31 at varying prices.
As for the blockchain, the Ethereum layer-two, "environment-friendly" Polygon will serve the marketplace's needs. The platform will support secondary transactions using debit or credit cards, as well as payments in ETH with Metamask wallets. Besides, the fast-evolving AP marketplace mentions the “social media capabilities,” “new content concepts,” and “off-chain benefits” for NFT holders among the nearest upcoming improvements.
But that's not all, folks. Once every two weeks, an exclusive NFT, featuring Pulitzer Prize-winning photographs, will be auctioned. Each "Pulitzer Drop" will include the NFT's detailed metadata, including time, date, location, equipment, and technical settings used for the photograph.
The funds from the AP NFTs sales will return to funding the AP journalism. Although being the secondary market sales-friendly, the platform will charge a hefty 10% fee.
Join the photography crypto movement and collect your history-significant moments' collection with the Associated Press non-fungible photographs.