NFTs thrive in a variety of industries, from artwork, music, entertainment to real estate. Furthermore, NFTs have a strong potential of having significant influence in the publishing industry. If you are a writer, an author, or work in the book publishing industry, you should learn more about how you can turn your books into NFTs.
What is an NFT book?
An NFT book is a digital token for a digital original with the ownership recorded on the blockchain, making them one-of-a-kind digital representations of each book, which comprises two things.
The first one is the content of the eBook with any accompanying materials such as a video guide to the book or an interview with the author that you can read, enjoy, think about and accumulate knowledge. After purchasing the NFT, you may download and enjoy all of them.
NFTs are not the same as digital versions of normal eBooks that may be purchased online. You own the eBook as long as the online marketplace where you purchased it agrees to keep it available. NFTs are similar to printed book ownership in this scenario, where you possess a unique copy among a sequence of similar copies. As a result, while the author’s copyright is secured, pirating an NFT book is difficult.
Secondly, the part that differs from the majority of other online content is the implementation of smart contracts. Each NFT book comes with a smart contract that allows you to resell the single copy you purchased once you’ve finished reading it.
Strategies for Creating an NFT Book?
Offer limited editions: When a book is only bought for a limited time, it acts as an incentive to purchase. Authors might establish a certain timeframe to encourage readers to buy.
Offer different versions of a book: Authors can expose their readers to different variations of each edition, ensuring that each purchase receives a really unique book by considering what additional content could be added to each book copy.
Sell alternative versions: Creating a different plot or finish for your book is a terrific method to increase interest in it. The extra content will entice readers who are already interested in your work.
Create digital items related to your book: The author can produce digital content based on the plot to give readers a more meaningful experience. Thanks to NFTs, authors can create digital artwork, audio or video content that could be officially sold and owned.
Benefit to authors
In this era of ever-evolving technology, along with the explosion of blockchain and NFTs, it is completely logical for authors to convert their books into NFTs and keep up with the trend. Their books are not merely content to read but also become a kind of digital asset. When everything moves towards digital integration, NFTs’ application in book publishing will bring a lot of benefits to the author, such as increasing more revenue, creating marketing strategy, and having more hardcore fans. These advantages will become appealing points for a wide range of authors.
NFTBOOKS believes that NFTs for book publishing will usher in a new era for eBooks and provide authors with great opportunities. NFTs will continue to revolutionize and benefit the publishing industry, from eBook monetization to author copyright protection to offering more material to users.