Associated Press Launching NFT Marketplace

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It looks like 2021 was the year of the NFT, and if the Associated Press has anything to say about this year, so will 2022.

Photo by NisonCo PR and SEO

Specifically, the venerable news agency is launching its own NFT marketplace on January 31 in partnership with Xooa.

The collection will be drawn from AP photojournalists including those that have won a Pulitzer Prize.

The money that the AP makes from the marketplace will go on to fund their operations. As a non-profit organization, such funds could prove a substantial boost in capital that the AP could use to expand opportunities for photojournalists and many others, this kind of thinking goes.

“For 175 years AP’s journalists have recorded the world’s biggest stories, including through gripping and poignant images that continue to resonate today. With Xooa’s technology, we are proud to offer these tokenized pieces to a fast-growing global audience of photography NFT collectors,” AP director of blockchain and data licensing Dwayne Desaulniers said of the launch.

Buyers will have a range of payment options including fiat currency via credit card and cryptocurrency transactions via Binance and Coinbase.

Like many other NFT marketplaces, the AP is promising periodic “drops,” in this case something called a Pulitzer drop.

“Pulitzer Drops are rare and take place one day every two weeks. These drops include Pulitzer Prize-winning images and have increased scarcity to preserve their status. Access to Pulitzer Drops may be prioritized to the marketplace's most active collectors, so be sure to participate in other drops or visit the Community Market to ensure you have access to these unique drops.”

Again, it all launches on January 31 if you’re interested.

What do you think of the NFT craze? Let us know your thoughts on NFTs and how they could be good or bad for photography in the comments.

And we’ve got more news on Light Stalking at this link right here!

[Associated Press]

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Kehl is our staff photography news writer and has over a decade of experience in online media and publishing and you can get to know him better here

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