The Associated Press is launching an NFT marketplace
Focusing on photojournalism
The news outlet, Associated Press or AP has recently announced they will be launching their own marketplace to sell NFTs of its photojournalists’ work.
AP, in a press release, explained that entering the world of NFTs with its own marketplace will give a way for collectors to “purchase the news agency’s award-winning contemporary and historic photojournalism.” The news outlet has stated that their NFTs will be released at “broad and inclusive price points” and that their marketplace systems will be built on an environmentally friendly blockchain called Polygon.
The photojournalism NFTs that AP will be selling will consist of a set of original metadata that tells the buyer when, where, and how the photos were taken. The first collection that AP will be launching on January 31st will feature photos of space, climate, war, as well as images that highlight the work of specific AP photographers.
AP is not the only news outlet that has shown interest in the world of NFTs, but other outlets such as The New York Times and Quartz have sold copies of articles as NFTs. With AP’s new marketplace, they are not trying to sell NFTs that tie into the metaverse, but the project seems to be aimed entirely towards collectors who want to buy, sell, and trade official AP digital collectibles. Individuals who are interested in purchasing an NFT through the marketplace can do so by using their credit cards or Ethereum.
The news outlet has stated that MetaMask will be the first wallet that their marketplace will be supporting, but they plan to add support for others later down the line. According to The Associated Press NFT Marketplace FAQ page, the marketplace will have virtual queues for each collection that they drop such as their “Pulitzer Drops” which will happen every two weeks and will contain limited-edition NFTs.
AP has explained on the FAQ page that the proceeds that they get from selling NFTs will be used to fund their journalistic pursuits as well as share the revenue collected with AP photographers.
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