The Associated Press, which operates in journalism and photography internationally, is offering its best shots for sale in the form of non-fungible tokens (NFTs). To do this, the agency will use a dedicated marketplace hosted on Polygon (MATIC).
Photographs as NFTs
The international news agency Associated Press has announced via a press release that it will set up a platform for non-fungible tokens (NFTs).
Interested collectors will be able to purchase historical photographs taken by members of the Associated Press.
On the NFTs platform website, it is already possible to register in a queue to have priority access to the first collection that will be available for purchase.
This collection will include images from photographers currently working at the agency, as well as snapshots that have won awards such as the Pullitzer.
The official opening to the general public is scheduled for 31 January and will include photos on the subjects of space, war and the Earth in general, in particular to alert people to the danger of climate change.
Photographs by famous photographers such as Emilio Morenatti, known for his series of photographs of disfigured Pakistani women, will be available. Photographs by Oded Balilty will also be available for sale.
One of the pictures that will be offered for purchase on the future Associated Press platform (Source: Associated Press)
A non-profit operation
The Associated Press says that each NFT will have a different price, but that the proceeds will be reinvested to fund “factual and unbiased journalism”.
Each NFT will contain its own metadata, including specific information about each shot.
This may include the date, time and location of the photograph, but also what equipment and lenses were used to capture the image.
The Associated Press is not the first news organisation to tokenise some of its work. We remember notably the media Quartz which sold one of its articles in the form of NFT, or the New York Times which sold one of its articles in the same way for the modest sum of 500 000 dollars.
A platform hosted on Polygon
The Associated Press states in its article that the NFTs platform will be hosted on the Polygon network, itself based on the Ethereum blockchain (ETH).
Indeed, Polygon is a sidechain of Ethereum, which aims to drastically reduce the costs of transactions made on the network.
The news agency will work in collaboration with Xooa, a US-based company specialising in the deployment of NFT platforms and other applications using the blockchain.
Commenting on the announcement, Dwayne Desaulniers, Head of Product, Business Development and Photo Licensing, said:
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For 175 years, AP photographers have captured the world’s greatest stories through gripping and poignant images that continue to resonate today. […] With Xooa’s technology, we are proud to offer these coins as tokens to a growing global audience of NFT collectors.”
