The Associated Press (AP) announced a platform for buying and selling tokenized photos. The new service will allow the company to run their own blockchain software in order to buy photo rights, which they can then sell through said system. This is yet one more example of how companies are turning towards digital assets as an alternative revenue stream due to traditional advertising methods being saturated.,
The “Associated Press announces an NFT platform for buying tokenized photos” is a news article about the Associated Press creating their own NFT marketplace. The article includes information on how to buy and sell images on this platform. Read more in detail here: nft marketplace.
The introduction of a new NFT marketplace was recently announced by the Associated Press. The new platform, according to the release, would enable collectors to purchase tokenized pictures from the worldwide news media source.
The platform’s first collection will include NFTs of photographs covering a wide range of topics. Images depicting climate change, space exploration, and even conflict will be available for purchase over the course of many weeks at varied costs. The collection will be distributed on January 31st, and the NFTs will be issued on Polygon, Ethereum’s layer-two scaling network.
Users will be able to buy NFTs using Ethereum, but the site will also accept debit and credit cards as secondary transactions.
Information about the planned NFT platform
A blockchain infrastructure platform named Xooa is now developing the new marketplace. For IP owners and significant companies, the platform specializes in establishing white-label NFT markets. Zach Danker–Feldman, Xooa’s head of markets, indicated that this relationship would create a significant link between the actual and virtual worlds.
Metamask, a renowned crypto wallet service, will also be supported on the platform. There are, however, plans to form new alliances and collaborations with companies like Binance, Coinbase, and Fortmatic. Future features planned for the platform include the option to withdraw funds to other markets, new content ideas, off-chain incentives for NFT holders, as well as social network integration.
Another thing the site is proposing is a “Pulitzer Drop,” which will happen every two weeks on a regular basis. Pulitzer Prize-winning photographs will be among them, and they are anticipated to be in great demand. These, like the other collections, will be NFTs, and in addition to the images, they will provide information about the photos. Time, date, location, technical settings, and equipment, among other things, will all be provided.
The platform will not only provide its own NFTs, but will also operate as a marketplace for secondary market transactions, according to the release. It will, however, charge a 10% fee for it.
The Associated Press has a long experience with blockchain technology.
The monies received from the purchasers will be used by Associated Press to invest in its journalism when the NFT sales are finished. The firm has been operating as a non-profit journalism cooperative located in New York City for 175 years.
While the AP’s new platform is a significant move into the blockchain area, it is not the news organization’s first. It partnered with Chainlink Labs in October of last year to ensure that the data from its newspaper and broadcaster members was cryptographically authenticated. Previously, in 2020, the news agency utilized EOS and Ethereum chains to announce presidential election results.
Even before that, in 2018, the platform teamed up with Civil, a journalism business, to protect intellectual property rights and measure content use. To put it another way, the Associated Press has a history of working with blockchain companies and initiatives, so launching its own platform is a natural next step.
The “associated press nft xooa” is a new platform that will allow users to purchase tokenized photos. The Associated Press has announced the new platform and it is expected to be released in the coming months.
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