User tastes are changing and activities are moving fast online. There is already a rush among businesses to capitalize on NFTs to offer improved services and experiences for users. Now, authors and publishers are about to embrace NFTs too.
eBook NFTs are a new sphere in NFT utility where text and audiobooks can be stored on the blockchain. Through this means, books can live perpetually while new utilities are made available to both authors and consumers.
A New Way to Publish
Utilizing NFTs for eBooks creates a way for authors to directly connect with consumers. It creates a new form of decentralization, especially for independent authors in a space that is traditionally controlled by corporate publishing houses.
eBook NFTs create an entirely new market where authors can make direct sales to readers. This also means that they can earn further profit through royalties on secondary sales of NFTs. Similarly, authors and publishers can make special arrangements where physical copies can be printed on demand. This deal could be in the form of mint-to-print, where the purchase of an NFT informs a publisher to print and deliver a book to the collector.
Additionally, authors could use this means to forge a direct bond with their readers. This could be through the creation of limited edition NFTs with "holders only" communities.
A Collector’s Advantage
The eBook NFT economy will also be advantageous to readers, or in this case, collectors. The most obvious benefit is that readers are no longer mere consumers of books. They can now speculate on the value of rare blockchain books for potential resale on secondary markets. The NFT becomes more like a collector’s stamp, possibly revitalizing the desiccating publishing industry through aforementioned royalty fees. Thus, ownership, holders benefits and resale value are three of the many incentives for readers to choose an ebook NFT.
eBook NFTs have the potential to become a huge niche within NFTs. The ability to generate value for authors, publishers, and readers alike, makes it quite an enticing prospect for the evolution of digital books.