The Associated Press will launch a photojournalism NFT marketplace built by blockchain tech provider Xooa on Jan. 31, with proceeds used to fund its journalism
It's offering collectors ‘exclusive, historic, and stunning visual content’ — The Associated Press, or AP … Source: Associated Press .
The significance is less the NFT format alone than AP's attempt to connect its archive and brand to a revenue channel explicitly earmarked for journalism, while Xooa becomes the technology supplier for that commercial product.
First-order effects
AP gains a collector-facing outlet for selected photojournalism and directs marketplace proceeds toward its journalism.
Xooa becomes the builder of AP's marketplace, tying its blockchain technology to a named media deployment.
Second-order effects
AP's blockchain work now spans licensing, data authentication, and collectible distribution, increasing the value of a coherent rights-and-provenance strategy around its content.
Xooa gains a high-profile newsroom customer use case, while AP must make its exclusive visual offerings compelling enough to sustain collector demand.
Third-order effects
If publishers repeat AP's progression from blockchain experiments to paid content products, blockchain suppliers will compete less on general-purpose technology and more on rights, authenticity, and sales infrastructure for media archives.
The trend: News organizations are testing blockchain not only for content provenance and licensing, but also as a direct monetization layer for proprietary archives.
.@AP will launch a non-fungible token (NFT) marketplace built by blockchain technology provider Xooa, where collectors can purchase the news agency's award-winning contemporary and historic photojournalism. https://www.ap.org/...
Someone should start buying Associated Press news photo NFTs and start reselling reuse licenses to random people. @AP would sue in 5 seconds because that's how they make their money—but it would demonstrate how useless NFT “ownership” really is. You don't actually “own” anything!…
AP already has a database of archival photos and footage used routinely by journalists across the industry and world. Does this mean we lose access to specifically award-winning photos once purchased by collectors? Will those NFT collections expand beyond that? https://twitter.co…
The Associated Press will launch a NFT marketplace built by blockchain technology provider Xooa. The NFTs will be minted on the Polygon blockchain. https://www.ap.org/...