NFTs for Authors: New Options to Publish books in a Digital Era
In the world of cryptocurrencies, NFTs are a relatively new concept, but they hold great potential for independent authors. NFTs are one-of-a-kind, cannot be duplicated, and only exist in the digital realm. Writers can use them to sell books or poetry straight to readers, bypassing the regular publishing process. NFTs are an exciting proposition for writers who value their creative freedom because they can experiment with form, publish, and make money immediately.
NFT books are not just one?
With NFTs, you don’t just own one item; you possess a single item inside a chain of items. A first edition is one NFT, a second edition is another, and so on. NFT books function similarly to author-signed books.
It’s not that you own the only published book, as many people mistakenly believe; rather, you own one of the other books that exist. If the author only prints one hundred copies of his book, the NFT you purchase is one of them.
Literary NFTs and the metaverse
The metaverse is a new technology, and it will take a long time for many creatives to reshape literature in this realm; but there is a lot of opportunity for tech-savvy writers looking for new ideas. With Facebook’s recent rebranding as Meta and its aim to bring the metaverse into people’s homes like never before, NFTs in this arena have a lot of potential. Because it is entirely digital, it expands the concept of ownership even more.
NFTBOOKS — Platforms available for crypto writers
There are not many literary-specific platforms for crypto writers because this field is still an emerging technology. There are, however, companies that are looking into the field and preparing to provide writers with a platform to market their NFTs, and NFTBOOKS is such a highlight platform.
NFTBOOKS is an Australian firm that assists authors from all over the world with the publication and distribution of their eBooks. They were one of the first to develop a blockchain platform for NFT books. You can buy, trade, and collect NFT books as digital originals on NFTBOOKS. NFTBOOKS’ features are currently being refined, and the platform will be available to authors soon. Authors will be able to publish their works and receive a portion of the profits. Readers will be able to show their support for and collect works by their favourite authors, and publishers will be able to release limited special editions.
NFTBOOKS was one of the first platforms to consider smart contracts and reselling as a way to give writers more control over their earnings. NFTs have a large resale market, and authors can put a percentage royalty into the resale of any of their works. If it’s sold numerous times, the writers have effectively created their own distribution network from which they can continue to profit.
Literary NFTs are still in their infancy, yet they are rapidly evolving. This is definitely an area to keep an eye on if you’re a writer looking for chances outside of traditional publishing.