The Associated Press is launching a photography marketplace called NFT

On January 31, the first collection of NFTs will be accessible Ipass, including Pulitzer Prize-winning photographs. Beginning on January 31, an initial collection of NFT pictures will be released over the course of several weeks.

According to an AP press release issued on Monday, the Associated Press will open an NFT marketplace for collectors to acquire AP photojournalists’ photographs. The first collection of photographs, which includes Pulitzer Prize-winning images, will be released over many weeks, beginning on January 31.

According to the release, with each NFT purchase, collectors will gain access to the metadata connected with each shot, which includes the time, date, location, equipment, and technical settings used. Xoom, a blockchain technology startup, will build the marketplace.

“For 175 years, AP’s photographers have captured the world’s most important stories through captivating and poignant photos that continue to resonate today,” Dwayne Desaulniers, AP director of blockchain and data licensing, said in a statement. “We are happy to offer these tokenized pieces to a rapidly rising global audience of photography NFT collectors, thanks to Xooa’s technology.”

Collectors will be able to buy, sell, and trade the AP NFTs, which will range in theme from space to climate to conflict and will feature the work of individual AP photojournalists, according to reports. The NFTs were not given precise prices, but the press release stated that they will vary in price and that the proceeds will “go back into financing factual, balanced AP journalism.”

According to the news release, collectors will be able to buy NFTs with a credit card or a cryptocurrency wallet.

An NFT, or nonfungible token, is a one-of-a-kind digital token linked to a blockchain that serves as a certificate of ownership for its owner. NFTs are typically in the form of an image, gif, or video, and they can be purchased and sold for millions of dollars, much like art collections. Individual NFTs from popular collections like CryptoPunks and Bored Ape Yacht Club are being snapped up by celebrities ranging from Snoop Dogg to Jimmy Fallon.

About Debra D. Johnson

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