The world of books wonders about the future of NFTs

(ETX Daily Up) – A work of art, a tweet, a piece of music… Any digital file can potentially be turned into an NFT. These non-fungible tokens are revolutionizing the notion of property ownership, which suggests a new market for the book industry.

Book.io hopes to be at the heart of this revolution. This American start-up aims to “create a marketplace and an NFT platform that will forever change digital reading”, as it explains on its site. It offers readers the possibility of actually becoming the owners of digital books and sound they love with NFT technology.

Literature lovers can thus buy NFTs of classics such as “Dracula” by Bram Stoker, “Moby Dick” by Herman Melville, “War of the Worlds” by HG Wells on the Book.io sales platform. These NFTs not only give them ownership of these e-books, but also allow them to read the literary works with which they are associated on an application specially designed by the Texas company.

After the reading is complete, NFT holders are awarded $BOOK tokens. These tokens allow them to resell their NFT whenever they want, and to acquire new ones in order to diversify their library Virtual. For each of these transactions, authors and publishers of literary works associated with Book.io’s NFTs receive royalties. If Book.io is to be believed, this is “the future of digital publishing”.

The company has already generated more than $250,000 in sales revenue since the launch of its sales platform and reading application on July 20. It is currently in talks with various publishing houses to expand its catalog of literary NFTs.

With this in mind, Book.io has already signed a partnership with Ingram, the main book distributor and wholesaler in the United States, which also specializes in on-demand printing. This partnership will allow it to rely on Lightning Source, the group’s print-on-demand service, to associate the NFTs of e-books that it markets with “physical” books printed to measure. In other words, NFT holders will be able to receive a paper copy of the ledger associated with the non-fungible token they have in their possession.

One question remains: is there a market for literary non-fungible tokens? Nothing is less certain. However, some book companies such as German audio and e-book distributor Bookwire continue to rely on this technology. In November, it launched its own NFT sales platform dedicated to books, Creatokia. But initiatives of this kind are still rare in the world of publishing, which does not prevent Joshua Stone, the CEO of Book.io, from being optimistic. “We are convinced that the golden age of the digital book has only just begun,” he said, following the announcement of his partnership with the Ingram group.

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The world of books wonders about the future of NFTs


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