In the midst of the ongoing craze of several companies and brands entering into the NFT industry, the Associated Press is the latest to enter the NFT market by launching its own marketplace to sell NFTs of its photojournalists.
The Associated Press (AP) is building the marketplace in collaboration with a blockchain tech firm Xooa and the NFTs will be minted on the Polygon blockchain.
Scheduled to be launched on January 31, the initial collection on the marketplace will include an array of photos ranging from space, climate, war, among other areas of interest. The collection will also feature some works that won the Pulitzer Prize, in addition to digitally enhanced depictions of photographers' work.
Moreover, each NFT on the marketplace will include detailed information about the work that will show the date, location, time, camera settings, and other technical details used for the photograph.
To buy the NFTs, buyers need to pay either using credit cards payments or Ethereum. The marketplace will support MetMask crypto wallet, and the firm plans to add Coinbase, Binance, and Formatic in the future.
AP says that it will use the proceeds received from the sale of NFTs to fund its journalism endeavors.