Friday, June 9, 2023

AP Cancels NFT Auction


Following an intense internet uproar, the Associated Press has canceled intentions to sell a video. It is “showing migrants drifting in an overloaded boat in the Mediterranean” as an NFT.

The Associated Press’s Thursday tweet promoting the film. It arrived as Russia’s incursion stoked worries of mass displacement of Ukrainians, sparked charges that the AP was profiting from the victims’ suffering.

Caroline Orr Bueno, a behavioral scientist, stated that the Associated Press had removed a tweet promoting an NFT. It appeared to be a bid to profit from the hardship of vulnerable migrants.

Since then, the organization has scrapped the scheduled auction. Lauren Easton, the Associated Press’ global director of media relations and corporate communications, indicated that they chose a poor choice of graphics for the NFT. She claimed the NFT would not undergo auction. The deleted tweet promoted it.

She went on to say that AP’s NFT marketplace was still in its early stages. Also, they were promptly assessing their activities. She stated that the AP’s objective as a non-profit institution was to provide truthful, impartial journalism to the world.

AP’s NFT Marketplace

The organization stated in the tweet that the clip would be purchasable the following day via its new marketplace trading NFTs. Last month, the Associated Press unveiled the online marketplace in a news report. It described it as a platform where consumers could buy the news agency’s award-winning modern and historic photojournalism, such as photographs of space, climate, and war.

As per the press release, for 175 years, AP journalists have documented the world’s most significant events. These featured compelling and tragic photographs that continue to resonate today. According to the press release, buyers would obtain a complete collection of unique metadata that would inform collectors about the time, date, location, gear, and technical specifications applied to the photo.

The NFTs’ issue would be in stages. Prices for the presently listed images span from $219 to $1,799. The money would become a donation to the AP’s non-profit newsroom as per the news report.

Is Profiting Allowed?

The sale raises concerns about the utility of photojournalism outside of news stories. Photographers and news organisations frequently faced difficult choices regarding the usage of photos of human misery. Dorothea Lange’s famous Migrant Mother photograph, for example, aimed to depict her subject’s Depression-era suffering. However, the lady, Florence Owens Thompson, subsequently recounted feeling “exploited” by the image, which accomplished naught in helping her financially, yet it sold for $141,500 at auction in 2002.

NFTs are exacerbating that dispute. Different income streams are critical, with news outlets fighting for advertising revenues with Google and Facebook. The New York Times previously sold copies of its stories as NFTs, while the Guardian sells some of its photos online.

However, the photographs available tend to be milder, such as the arts, music, and cityscapes. The same can for the remaining photographs in the AP’s NFT marketplace.

Ruby Vester
Ruby Vester
Ruby Vester started writing for Cryptoconstellation in 2017. After a successful career as a content writer for a business blog, she found an interest in the crypto world. Ruby has lived in England for two years, and the returning to her hometown, Madrid.

More from Crypto News Constellation

[tds_leads input_placeholder="Email address" btn_horiz_align="content-horiz-center" pp_checkbox="yes" pp_msg="SSd2ZSUyMHJlYWQlMjBhbmQlMjBhY2NlcHQlMjB0aGUlMjAlM0NhJTIwaHJlZiUzRCUyMiUyMyUyMiUzRVByaXZhY3klMjBQb2xpY3klM0MlMkZhJTNFLg==" msg_composer="success" display="column" gap="10" input_padd="eyJhbGwiOiIxNXB4IDEwcHgiLCJsYW5kc2NhcGUiOiIxMnB4IDhweCIsInBvcnRyYWl0IjoiMTBweCA2cHgifQ==" input_border="1" btn_text="I want in" btn_tdicon="tdc-font-tdmp tdc-font-tdmp-arrow-right" btn_icon_size="eyJhbGwiOiIxOSIsImxhbmRzY2FwZSI6IjE3IiwicG9ydHJhaXQiOiIxNSJ9" btn_icon_space="eyJhbGwiOiI1IiwicG9ydHJhaXQiOiIzIn0=" btn_radius="0" input_radius="0" f_msg_font_family="521" f_msg_font_size="eyJhbGwiOiIxMyIsInBvcnRyYWl0IjoiMTIifQ==" f_msg_font_weight="400" f_msg_font_line_height="1.4" f_input_font_family="521" f_input_font_size="eyJhbGwiOiIxMyIsImxhbmRzY2FwZSI6IjEzIiwicG9ydHJhaXQiOiIxMiJ9" f_input_font_line_height="1.2" f_btn_font_family="521" f_input_font_weight="500" f_btn_font_size="eyJhbGwiOiIxMyIsImxhbmRzY2FwZSI6IjEyIiwicG9ydHJhaXQiOiIxMSJ9" f_btn_font_line_height="1.2" f_btn_font_weight="600" f_pp_font_family="521" f_pp_font_size="eyJhbGwiOiIxMiIsImxhbmRzY2FwZSI6IjEyIiwicG9ydHJhaXQiOiIxMSJ9" f_pp_font_line_height="1.2" pp_check_color="#000000" pp_check_color_a="#fdbf46" pp_check_color_a_h="#000000" f_btn_font_transform="uppercase" tdc_css="eyJhbGwiOnsibWFyZ2luLWJvdHRvbSI6IjQwIiwiZGlzcGxheSI6IiJ9LCJsYW5kc2NhcGUiOnsibWFyZ2luLWJvdHRvbSI6IjMwIiwiZGlzcGxheSI6IiJ9LCJsYW5kc2NhcGVfbWF4X3dpZHRoIjoxMTQwLCJsYW5kc2NhcGVfbWluX3dpZHRoIjoxMDE5LCJwb3J0cmFpdCI6eyJtYXJnaW4tYm90dG9tIjoiMjUiLCJkaXNwbGF5IjoiIn0sInBvcnRyYWl0X21heF93aWR0aCI6MTAxOCwicG9ydHJhaXRfbWluX3dpZHRoIjo3Njh9" msg_succ_radius="0" btn_bg="#fdbf46" btn_bg_h="#dd9933" title_space="eyJwb3J0cmFpdCI6IjEyIiwibGFuZHNjYXBlIjoiMTQiLCJhbGwiOiIwIn0=" msg_space="eyJsYW5kc2NhcGUiOiIwIDAgMTJweCJ9" btn_padd="eyJsYW5kc2NhcGUiOiIxMiIsInBvcnRyYWl0IjoiMTBweCJ9" msg_padd="eyJwb3J0cmFpdCI6IjZweCAxMHB4In0=" msg_err_radius="0" f_btn_font_spacing="1" title_text="Stay Up to Date"]


Related Crypto News

Development of NFT’s Gaming Industry

Following the speedy crypto crisis, the NFT gaming universe is rapidly expanding, and these platforms continue to draw...

FanTiger Plans to Modify Music via NFT

FanTiger, an NFT music service, achieves a $5.5 million investment as part of an initial funding deal. Multicoin Capital...

NFT Adoption Surge in Korea

The country in the Far East may soon be at the forefront of the blockchain business once more....

Instagram Might Add NFTs Soon

Instagram, the video and photo-sharing service owned by Meta, is planning to add non-fungible tokens (NFTs) to its...