Books as NFTs
Authors, indie authors, and publishers will benefit from NFTs and fundamentally change the book publishing industry by issuing their books, manuscripts, and illustration creations as NFTs.
First of all, what is an NFT? It simply stands for Non-Fungible Token. Most people still do not understand the Crypto Blockchain world. Politicians demonize it saying Cryptocurrency is only used for illicit drugs or crime. Scammers will promote worthless coins or projects that have zero merits. In reality, without getting technical, blockchain and NFTs can be a better way to control processes in our everyday lives.
The publishing business can be very profitable for large corporations and publishing houses. Unfortunately, individual authors can be taken advantage of and generally receive only a very small portion of their creations’ revenue.
There is a better way! A more beneficial, efficient platform for authors and publishers to monetize their writing would be to publish their creative works in the form of books as NFTs. The primary benefit to authors is that it will cut out the payments to intermediaries.
10 Advantages to publishing books as NFTs.
- An author can raise money pre-launch or publication by issuing NFTs that have exclusive access to the book, writer, or manuscript pre-launch.
- The author can control the distribution.
- The author can control the promotion.
- The author can control and own the artwork for Book Covers.
- The author can sell digital products related to the book to create new sources of income.
- The author will own their work, instead of only receiving royalties.
- The author will control and own the trademarks instead of signing rights over to some of the more predatory publishing houses.
- The author will control and own the copyrights.
- The Book NFTs can be resold, and the author and their families will receive a designated percentage of the resales forever.
- All this information can be verified and stored in the smart contract metadata of the NFT or Token
This means that NFTs will eliminate the middlemen and give the author complete control of their work and revenue.
Books as NFTs are an exciting new use case for blockchain web3 dApps (decentralized applications). They will revolutionize how authors market and monetize their work. Additionally, it will change how they interact with their fanbase.
Book publishing has adjusted to changing technologies since the first pens were invented, and it will continue to do so. Authors can adapt to the change, or they can be left behind.
About the Author
Greg W. Barker, Executive Director of The Academy of Web3 dApps
We educate people on how to use Web3 dApps in applications that will improve lives and give the normal person a way to compete and get ahead.
Follow us at the Academy of Web 3 dApps as we explore how to use and create decentralized apps with no coding required.
Published by
Academy of Web 3 dApps
ABOUT THE AUTHOR
Academy of Web3 dApps
Greg W. Barker
We educate people on how to use Web3 dApps in applications that will improve lives and give the normal person a way to compete, get ahead, and stop the large, centralized corporations from taking most of the profit from your hard work.
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#Blockchain #publishabookasannft #blockchainpublishing #selfpublishing
