Associated Press launches its own NFT platform for trading photos
A trading platform for non-fungible photo tokens will open on January 31. The first lot for sale will be Oded Balilty's famous Pulitzer Prize-winning photo of a Jewish settler challenging Israeli security officers in the West Bank settlement of Amona, 2006. The price of the photo remains undisclosed.
Why is it so important?
- An AP's own market can be an excellent way to invest in art.
According to the Associated Press agency, the platform will run on the Polygon blockchain. The photo will be accompanied by detailed information about the date and place of shooting, the equipment used, and the camera's technical settings. It will be possible to buy NFTs using cryptocurrency or a bank card.
“For 175 years, AP’s photographers have recorded the world’s biggest stories through gripping and poignant images that continue to resonate today,” said Dwayne Desaulniers, AP director of blockchain and data licensing. “With Xooa’s technology, we are proud to offer these tokenized pieces to a fast-growing global audience of photography NFT collectors.”