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The Associated Press NFT: Monetization of Photojournalism

Due to the exploding tokenization power of non-fungible tokens (NFTs), the Associated Press launches its Associated Press NFTs soon. This factors the continued adoption of NFT across the digital world. Today, you can virtually tokenize anything. Even there is a hot topic that humans might be tokenized soon.

 

While this debate is hot in the blockchain and crypto ecosystem, the Associated Press is making a dive into the NFT world to create Associated Press (AP) NFT marketplace. This NFT marketplace will list different story-telling journalistic photographs from across the globe.

 

Associated Press NFT: Monetization of Photojournalism
Associated Press NFT marketplace will start soon… Image Source: The Associated Press Website

The Photojournalism Plunge Into NFT

In the Associated Press attempt to advance into the NFT world, the first set of the Associated Press NFTs will be photographs of different discourses across climate, space, war, and documentaries from their journalists. And January 31st will be the release date for the first NFT collections. This will be the beginning of the NFT release with different prices based on the marketplace website.

 

Apart from the sensational photographs of AP journalists, a remarkable NFT drop will happen every two weeks. This drop is the “Pulitzer Drop.” This explains that the marketplace won’t only contain Associated Press NFTs but also feature Pulitzer Prize-winning Photographs.

 

Every NFT will have detailed information about the photograph. Parts of the information include the date, equipment, location, technical settings, and photography angles that enhance the intrinsic value of the images.

 

The biggest highlight remains that proceeds from Associated Press NFT sales will return as funds for AP journalism, which has lived about 175 years. This will continue to boost unbiased journalism supported with facts from across the globe.

Associated Press NFT: Launched By Xooa But Minted on Polygon

A blockchain enterprise solution provider, Xooa, is in charge of building the marketplace, and they will support the AP in launching their NFT marketplace. But the Associated Press NFTs will mint on Polygon, Ethereum layer two platform. This platform is scalable, and its associated low transaction fee and transaction speed make it a sustainable network for the project.

 

This partnership between the AP and Xooa is a relationship that helps connect the parallel virtual world and the real world. As a result, collectors are empowered to bring their sensational journalistic photography to a community that will reward them for their photographic story-telling. More so, they will become a part of a community telling the world story via Associated Press NFTs.

 

To allow seamless purchase and selling orders, the platform enables secondary transactions where you can pay for an Associated Press NFT via credit or debit cards. Likewise, you can pay with Ether (ETH) through digital wallets like MetaMask.

Is this the Beginning of News Agencies’ Interest in NFTs?

As much as this is a significant development, this is not the first time AP will venture into leveraging blockchain technology. One of them is their effort to publish the US presidential election results in 2020. However, AP is not the only news agency leveraging blockchain technology. CNN launched a category of tokenized historical news moments known as “Vault by CNN: Moments That Changed Us.”

 

Click HERE to read more news about the NFT space!

 

Image Source: iStockPhoto

Ridwan Ojo

Ridwan Ojo

Ridwan Ojo O. is a digital nomad. He is an experienced blockchain and crypto content writer. He has worked with clients to write articles about the blockchain and crypto space. His articles have helped them solve their marketing goals and place their solutions right before their target audience. If he is not writing, he is helping people, buries his head in books, plays games, or spends great moments with nature or his friends. But he's passionate about the solutions blockchain and crypto are bringing to the world via decentralization.

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