Associated Press Launches NFTs Of Iconic Photos – Converted Organics (COIN)

For more than 175 years, . has been able to News agency It was a go-to source for news and photos. On Monday, AP announced its entry into the non-fungible token segment with a new market.

What happened: The Associated Press launched an NFT marketplace powered by blockchain technology provider Xooa. Collectors will be able to purchase NFTs for photography from the market.

The market and the first AP NFTs will be launched on January 31. According to the Associated Press, the first images released as NFTs will feature current and former photojournalists, including Pulitzer Prize-winning photos.

No NFTs price points have been announced as of Monday. AP is a not-for-profit news association and proceeds from the NFTs will go to the company’s funding for “AP Unbiased Journalism.”

“For 175 years, AP photographers have chronicled the world’s biggest stories with poignant images that still resonate to this day,” AP Director of Blockchain and Data Licensing. Dwayne Desolnier He said.

Collectors will be able to buy, sell and trade AP digital holdings through the new marketplace, which will support credit card payments and crypto wallets including Metamsk. Fortmatic, Binance And Coinbase Global (NASDAQ: COIN) will be supported in the future.

AP NFTs will be minted on ribbed (CRYPTO: MATIC) blockchain, which has been named as environmentally friendly, Ethereum (CRYPTO: ETH) A compatible Layer 2 solution.

Related link: How to buy NFTs

Why is it important: The Associated Press is one of the most trusted sources of news, which can make the NFT market well welcomed by those in the NFT market and new entrants to the field. The Associated Press reports that more than half of the world’s population watches AP journalism every day, which brings incredible fame to the platform’s brand.

The ability to use credit cards for payments can also attract new NFT collectors to the NFT market.

The launch of NFTs using photographs by AP follows a similar plan Getty Images continues. Getty Images announces the merger of SPAC with CC Neuberger Principal Holdings II (NYSE:PRPB) The company is valued at $4.8 billion.

Getty said it plans to use its copyrighted and intellectual property images to take advantage of the NFT opportunity, which the company “has not yet taken advantage of,” according to the CEO. Craig Peters.

“You think of free trade associations as the monetization of culture,” Peters said.

Getty provides the images to Dapper Labs, the company behind the popular NBA Top Shot NFTs. Getty has deals with NBA, FIFA, MLB, NASCAR, CBS, NBC Universal, Bloomberg, BBC, Sky News, and the Olympics among over 50 premium partners.

MATIC Price Action: MATIC is down 4.15% in 24 hours at $2.03.