The Associated Press (AP), an American non-profit news organization, has announced that it will be launching its first-ever NFT marketplace. The new marketplace will focus exclusively on AP's current and historic photojournalism.
Built by blockchain provider Xooa, the new marketplace will consist of a wide range of Associated Press photos that have been turned into purchasable NFTs. The actual NFTs will be minted on the Polygon blockchain, an eco-friendly system that works with the cryptocurrency, Ethereum. The NFTs will include photos taken for the Associated Press covering subjects such as war, climate, and outer space. In addition, each will come with a "rich set of original metadata," including time, date, location, equipment, and setting.
According to Zach Danker-Feldman, Xooa’s head of marketplaces, the new Associated Press marketplace will focus on "accessibility for all types of collectors to empower them to join a community."
Photojournalism NFT Marketplaces
Associated Press Has Launched Its First-Ever NFT Marketplace
Trend Themes
1. Photojournalism NFT Marketplaces - The trend of creating NFT marketplaces specifically for photojournalism can disrupt the traditional art world by making it more accessible to a wider range of collectors.
2. Eco-friendly Nfts on Polygon Blockchain - The trend of using eco-friendly blockchain technology and specifically the Polygon blockchain can disrupt the NFT market by addressing environmental concerns associated with other blockchains.
3. Original Metadata for Nfts - The trend of including comprehensive original metadata with NFTs can disrupt the art market by providing new opportunities for provenance and authentication that were previously impossible.
Industry Implications
1. Media and Journalism - The media and journalism industry can benefit from NFT marketplaces to create new revenue streams and connect with collectors in innovative ways.
2. Blockchain Technology - The blockchain technology industry can benefit from creating eco-friendly solutions like the Polygon blockchain to address environmental concerns and attract users who prioritize sustainability.
3. Art and Collectibles - The art and collectibles industry can benefit from leveraging NFTs and including original metadata to create new opportunities for authentication, provenance, and access to a wider range of collectors.