The Associated Press (AP) has partnered with NFT marketplace Xooa to launch its own NFT series based on its award-winning photojournalism.
The first collection is scheduled to drop on Monday, January 31 and will include award winning and historic photojournalism pieces from the 175 years of AP news coverage.
The NFTs will contain unique metadata, which will include the location, time, equipment and technical setting for each of the images.
The AP has chosen a wide range of content to be used as NFTs ranging from photos from times of war, photos from space and other images that highlight specific AP photographers.
The marketplace will enable users to buy, sell and trade AP’s digital collectibles using third party wallets like Metamask as well as purchases with debit and credit cards.
Xooa was chosen as the marketplace for AP due to its deep connection with its clients and the ability to run customized marketplaces.
The marketplace will run on the Polygon blockchain. This chain was chosen due to its minimal environmental impact as well as the speed in which transactions are possible.
Despite recent spikes in gas prices on Polygon, it is still much cheaper to mint, buy and trade NFTs on the layer 2 platform.
The AP is a not-for-profit organization so any revenue generated from NFTs sold on the marketplace will go toward funding future journalism. The prices of the NFTs will be variable and at this time it has not been announced if they will use an auction system or use different set prices for the images.
While many NFT projects continue to push out procedurally generated animals and random artwork, the AP is taking a different approach by offering unique points of history. These NFTs are sure to excite history fans around the world who could own Pulitzer Prize winning photography from major events.
The website for the AP marketplace contains a countdown and a place to register for the whitelist. Stay tuned as they release more information and hopefully explain the pricing structure behind these special NFTs.
Let us know on our social media which historic image you would want to collect and why!