NFT: Associated Press announces news for photographs

The Associated Press (AP) announced on Monday that it is working with blockchain technology provider Xooa to create a marketplace for non-fungible tokens (NFTs).

The news agency says the market will make it possible to buy digital versions of the work of photojournalists who work and have worked with him. In particular, there are photos that have won Pulitzer Prizes.

Proceeds will be donated to PA news organizations and the market will officially open on January 31st.

Aimed at collectors

Dwayne Desaulniers, director of blockchain and licensing at The Associated Press, explains that with Xooa’s technology, the agency will be able to offer tokenized works “to a rapidly growing global audience of NFT photography collectors.”

“For 175 years, AP photographers have captured the world’s greatest stories through stunning and moving images that continue to resonate today.”

Thanks to NFT technology, buyers will have access to a wealth of information about when and where the photo was taken, as well as the technical parameters and equipment used.

Trade or sell photos

According to AP, the photos from the first batch, which will be released on January 31, will focus on space, weather, war and more. The Polygon blockchain will be used.

The price of each work will vary, depending on the AP. Marketplace will also give buyers the option to trade or sell photos they purchase from Marketplace, which will accept credit cards and crypto wallets. Eventually, it will also support Fortmatic, Binance, and Coinbase.

Zach Danker-Feldman, head of Marketplaces at Xooa, says his work “provides an inherent rarity and utility for collectors, as well as a powerful connection between the virtual and real worlds.”

“As part of rolling out this marketplace, the focus has been on accessibility for all types of collectors, to empower them to join a community that shares their interest in amazing photography. »

This is not AP’s first foray into blockchain technology. In October, the agency signed an agreement with Chainlink that will allow AP data to be provided and sold to applications running on various blockchains. This data includes US election results, economic data, sports match results, and corporate financial data.

“Chainlink technology is the ideal way to provide smart contract developers everywhere with direct, on-demand access to trusted AP economic, sports, and career call data,” Dwayne Desaulniers explained in October. “Working with Chainlink allows this information to be compatible with any blockchain. Open source software is reliable, secure, and widely used on major blockchain networks. »

Source: .com

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