Tag: Associated Press

Media Giant Associated Press Chooses Polygon (MATIC) for New NFT Marketplace

by Dailyhodl

The non-profit news agency Associated Press (AP) is the latest traditional institution to show interest in non-fungible tokens (NFTs).

The AP says that it is unveiling an NFT marketplace that will feature images that the news agency’s photographers have captured for nearly two centuries.

The first AP NFTs will be made available at the time of the launch later this month, with the initial collection to be released over several weeks.

“The marketplace and first NFTs are set to debut on Monday, Jan. 31.

The initial collection will feature photography by current and former AP photojournalists and a selection of digitally enhanced depictions of their work.

Pulitzer Prize-winning AP images will be included.”

The subjects covered by the photos to be made available as NFTs will include Pulitzer Prize-winning photographs on a range of topics, from war to climate to space.

The NFTs will be minted on the Polygon blockchain, a layer-2 scaling solution that aims to offer faster and cheaper transactions.

According to the AP, the proceeds from the sale of the NFTs will go towards funding “factual, unbiased AP journalism.”

Prices of the various NFTs that will be made available will vary and buyers will be able to pay using mainstream means as well as with cryptocurrencies. The AP says that the supported wallets will include MetaMask and Fortmatic while support for crypto exchanges Binance and Coinbase will come later.

“It will support secondary market transactions and purchases using credit card payments as well as crypto wallets, including MetaMask, with support for Fortmatic, Binance, and Coinbase to come.”

The AP’s NFT partner and technology provider in the initiative is blockchain technology firm Xooa.

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Associated Press to launch Polygon-based photography NFT platform

by Cointelegraph

The Associated Press (AP) is launching a nonfungible token (NFT) marketplace where collectors will be able to purchase tokenized photographs from the global news platform.

The initial collection of NFTs will include photographs of subjects like space, climate, and war from AP photojournalists. They will be released over several weeks starting on Jan. 31 for varying prices, according to the marketplace’s website.

The photographs will be minted as NFTs on the Ethereum layer-two scaling network, Polygon. The platform will support secondary transactions using debit or credit cards, and payments in Ethereum.

The marketplace is being built by Xooa, a blockchain infrastructure platform specializing in building “white-label NFT marketplaces for brands and IP owners.”

Head of marketplaces at Xooa, Zach Danker-Feldman, said the partnership will serve as a “powerful connection between the virtual world and the real world.”

Crypto wallet provider Metamask is also supported, with future collaborations with Fortmatic, Binance, and Coinbase on the cards. Additional upcoming features will include “withdrawals to other marketplaces,” “social media capabilities,” “new content concepts,” and “off-chain benefits” for NFT holders.

Once every two weeks, there will be a “Pulitzer Drop,” which will include Pulitzer Prize-winning photographs. Each NFT will include the photograph’s detailed metadata such as the time, date, location, equipment, and technical settings used for the photograph.

According to an announcement from the AP, funds from the NFT sales will go back into funding AP journalism. The Associated Press is a 175-year-old non-profit news cooperative based in New York City. Although the platform will allow secondary market sales, it will charge a hefty 10% fee.

Related: CNN selling historic news ‘moments’ as NFTs

This is not the news agency’s first foray into blockchain technology. In October 2021, The AP partnered with Chainlink Labs to ensure any data from its U.S. newspaper and broadcaster members would be cryptographically verified.

In 2020, the AP used the Ethereum and EOS blockchains to publish the results of the presidential election. Furthermore, in 2018 it partnered with blockchain-based journalism startup Civil to facilitate its plans to track content usage and secure intellectual property rights.

The AP is not the only news organization showing interest in the potential uses of blockchain in the journalism industry. In June 2021, CNN launched its NFT project “Vault by CNN: Moments That Changed Us.” The collection tokenized a series of historic “news moments” from the news company’s 41-year history.

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Associated Press Will Utilize Chainlink To Record Real-World Data on Various Blockchains

by Dailyhodl

The Associated Press (AP) is tapping decentralized oracle network Chainlink (LINK) to make its data accessible on leading blockchains.

Chainlink serves as a bridge that can bring off-chain information to blockchains and smart contracts.

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The news agency says it’s launching a Chainlink node that will enable it to supply and directly sell datasets on US political elections, economic data, sports results, and business financials that can be used by applications running on blockchains.

The AP’s announcement comes amid the increasing popularity of smart contracts, which are designed to be tamperproof programs that automatically execute outcomes when certain conditions are met.

According to the AP, Chainlink can play a role in automating blockchain processes such as alerting markets about calls on political races, initiating on-chain trades when companies release their financial records, and updating the appearance of non-fungible tokens (NFT) based on real-world events.

In 2020, the AP also teamed up with decentralized knowledge platform Everipedia to publish US election calls on the Ethereum blockchain.

AP’s director of blockchain and data licensing Dwayne Desaulniers says,

“Chainlink technology is the ideal way to provide smart contract developers anywhere in the world with direct, on-demand access to AP’s trusted economic, sports, and race call data.

Working with Chainlink allows this information to be compatible with any blockchain. The open-source software is reliable, secure, and widely used across leading blockchain networks.”

Chainlink’s native token is currently the 16th largest crypto asset by market cap. At time of writing, LINK is trading at $29.28, according to CoinGecko.

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Associated Press plans to launch Chainlink node to publish data

by Cointelegraph

The Associated Press news agency announced it would be launching its own Chainlink oracle node to ensure any data from its U.S. newspaper and broadcaster members would be cryptographically verified.

In an Oct. 21 announcement, the Associated Press, or AP, said smart contract developers would have access to the agency’s “economic, sports, and race call data” once the node was operational. According to the AP, it will be publishing data on-chain for developers to access and reference in any relevant applications, in addition to providing information on upcoming elections and serving artists working with nonfungible tokens.

“Chainlink technology is the ideal way to provide smart contract developers anywhere in the world with direct, on-demand access to AP’s trusted economic, sports, and race call data” said AP director of blockchain and data licensing Dwayne Desaulniers. “Working with Chainlink allows this information to be compatible with any blockchain.”

The AP said its primary reason for the shift to blockchain was “trust,” in that the on-chain data it provided would be “a publicly accessible, safe and secure record of verified information.” The news agency added it would be open to shifting its approach based on the response from developers as it kept “a finger on the pulse of the blockchain economy.”

Related: Blockchain in journalism: Winds of change carry media to new frontiers

This is not the news agency’s first foray into blockchain technology. The AP was reportedly interested in exploring ways to secure intellectual property rights, support ethical journalism, and track content usage when it partnered with blockchain-based journalism startup Civil in 2018. In addition, the AP published the results of contentious 2020 U.S. presidential election onto the Ethereum and EOS blockchains.