The Associated Press to Launch Photojournalism NFT Marketplace

NFTs, or non-fungible tokens, have exploded during the pandemic and it’s still here to stay, with The Associated Press joining in on the ascension of the trend.

AP has decided to start selling their photojournalism as NFTs on January 31st. The news agency teamed up with blockchain technology provider Xooa to develop a marketplace for its NFTs. AP’s project seems entirely aimed at collectors who want to seamlessly buy, sell and trade official AP digital collectibles through the marketplace.

AP says its NFTs will be minted on the Polygon blockchain that was designed to consume less energy than its counterparts. It still remains to be seen the kind of money AP will be able to earn once they enter the marketplace.

NFTs are non-interchangeable units of data stored on a blockchain and can be sold or traded.

NFTs are currently laced with controversies such as its impact on the environment. (CT)