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Photographs by Associated Press photographers, including Pulitzer Prize winners, will soon be available as digital collectibles. On Monday, January 10, the Associated Press announced the upcoming launch of a Marketplace for NFTs, or non-fungible tokens, where images of the nonprofit news organization will be created for digital collectors. The Associated Press NFT Marketplace is scheduled to launch on January 31.
The Associated Press NFT Marketplace, which was built with blockchain company Xooa, will drop the first NFT sets within a few weeks, with the first on January 31. The AP says the initial launch includes work from current and former AP photographers, including what they call “digitally enhanced representations.” The organization says the Pulitzer Prize-winning images will also be released as NFT, with “Pulitzer Drops” scheduled every two weeks.
[Read: What are NFTs Anyway? A Photographer’s Guide to the Digital Art Craze]
Collections will be launched at a scheduled time and collectors will receive a random edit number of the image as an NFT, issued on the Polygon blockchain. NFTs, which are digital collectibles authenticated using blockchain technology, will include the original metadata, including time, location, exhibit settings, and the equipment used to take the Photo. The market will include secondary sales, where collectors can sell these NFTs. Unlike the original drop, buyers will be able to choose the secondary market edition, with lower numbers believed to sell for more than higher editions.
While most NFTs require cryptocurrency, the Associated Press NFT Marketplace will accept Ethereum or credit and debit cards. The PA said the profits “would go to funding the PA’s factual and impartial journalism.” If the NFT company is successful, it could give a boost to an industry that saw 25% of US newspapers close between 2004 and 2019.
[Read: Quantum’s NFT Launchpad Helps Fine-Art Photographers Mint Collectible NFTs]
NFTs have grown rapidly in recent years, especially after a Banksy NFT grossed $ 69.3 million last spring. While NFTs also include everything from CryptoPunks to sports collectibles, a growing number of photographers have started work as NFTs.
The Associated Press NFT Marketplace will bring a collection of photojournalism from an organization that reaches over half of the world’s population. The organization says NFTs will include a variety of different topics, including space, climate and war. The market should also spotlight specific photographers. The AP has not indicated how far the NFT market will go in the archives. In theory, this could date back to 1846, when the news agency was founded.
Interested collectors can sign up for a waiting list for the launch at apmarket.xooa.com. According to the website, collectors who refer others will move higher on the waiting list.