The Associated Press is launching an NFT marketplace this month, mining a trove of photos to fund its news business



The Associated Press has a microphone.

The images are courtesy of Chan Long Hei/SOPA Images.

The AP is launching a photography-focused token marketplace at the end of the month.
The marketplace will be built by Xooa, which works with brands on metaverse and NFT strategy. Over a period of several weeks, the initial collection of NFTs will be released.

The news agency's photojournalism will be available for purchase and viewing.
AP's photographers have recorded the world's biggest stories through gripping and poignant images for 175 years.
The time, date, location, and equipment used for the original photo will be marked on the NFTs. The AP said that the proceeds from the NFT sales will be used for journalism. The Pulitzer Prize has been won by many photos taken by Associated Press photojournalists.

"In this marketplace deployment, emphasis has been placed on accessibility for all types of collectors to empower them to join a community that shares their interest in stunning photography", said the head of marketplaces in a press release.

The marketplace will offer buying, trading, and selling of AP digital collectibles. The press release stated that the NFTs will be on the Polygon blockchain.
"With Xooa's technology, we are proud to offer these tokenized pieces to a fast-growing global audience of photography NFT collectors," Desaulniers said.

Business Insider has an original article.