The world’s most prestigious news wire service, The Associated Press, has revealed information regarding the monetization of their photojournalism through NFTs.
On the 10th of January, the Associated Press made an announcement that relates to the launch of their NFT market. The arrangement date that the NFTs market will go live is by the end of this month, specifically on January 31. From a technical perspective, the NFTs will undergo minting on Polygon, which is an Ethereum-tied network. They recognize Polygon as environmentally friendly. In addition, Xooa, a firm recognized as a blockchain service provider, was part of the development of this new marketplace.
Furthermore, the announcement of AP emphasizes the non-profit news cooperative where the proceeds become reinvestments in impartial AP journalism. Moreover, the team of AP seems to be positive about attracting new NFT collectors of photography.
Associated Press Blockchain-Related Past
It is important to realize the interest in blockchain that the Associated Press has had in the past. This enthusiasm includes the collaboration with the oracle network Chainlink that it had back in October. The aim of this teamwork was to help developers access AP data. On the other hand, the site for AP’s platform is counting down until its launch.
In light of the NFTs evolution, it has experienced huge growth over different industries, involving the media industry as well. There is an impatient excitement of many media companies and artists to dive into the monetization of digital content. CNN’s Vault concept is an example of a marketplace that has been sought by news organizations in the past.