The Rise of NFT in 2022 and its Integration in Book Publishing

NFT is a big “wave” in 2021. The growth of this trend can bring landmark changes to the work of artists, content creators, and authors. In a period when the community’s interest in cryptocurrency is higher than ever, NFT is attracting more and more attention.

Since NFTs were around in 2014, the market has been steadily growing to new highs. However, until 2021, this revolutionary technology broke through into the mainstream, upsetting the art world and other industries. The NFT landscape has changed dramatically during the last 12 months. By the end of 2021, this young market had a trading volume of more than $23 billion, compared to less than $100 million in 2020. Amid this scenery, we approach 2022, and as more companies turn to this space, the NFT market’s future seems brighter. According to Chainalysis, the NFT business, which is now valued at over $27 billion, will explode in 2022.

NFTs in 2022

• More Industries and Brands
  NFTs are digital tokens of tangible and intangible items that can be transacted on the blockchain. They are applied in industries such as art, music, book publishing and specifically works of art, songs, books, tickets, or collectible cards.
  Many companies, including Nike, Adidas, Budweiser, and Disney, entered the NFT market in the second half of 2021. More brands and businesses are expected to join in.
• Creators will concentrate on real-world issues.
  NFTs are still a relatively new technology in the crypto world. Creators will attempt to tackle real-world challenges like copyright claims and digital asset validation when trade volume, asset liquidity, and the number of new users grow — along with Web 3.0 infrastructure.
• Real Assets Will Be Supplemented by NFTs.
  Some forward-thinking businesses have begun to use blockchain technology to issue actual assets on the blockchain. NFT books, for example, are beginning to alter how authors earn from their work.

NFT in Book Publishing

NFTs for books have a lot of promise and significance for the publishing industry, both practically and creatively. Various advantages have been stated for the NFT book scheme.

Unlike the eBooks you buy at Amazon or other sites, you simply buy a license to use them. However, when you purchase an NFT book, you own the book itself. This is the special and outstanding point of the NFT book.

Besides, pirating an NFT book is far more difficult, and challenging an author’s copyright to a book is likewise more difficult because everything is recorded on the blockchain.

NFT book purchases and sales all use a type of smart contract. The implementation of these contracts is incorporated directly into the transaction via a smart contract. The payment is automatic and instantaneous.

The most thrilling aspect of NFT books is their resale. After purchasing an NFT, the owner can sell it to others and gain profit. Some people who are following the NFT movement expect that it will soon become the standard method of selling books.

There are still many potentials and opportunities in applying NFT to different industries in general and book publishing in particular. In the digital age, NFTs will become increasingly useful.

Follow NFTBOOKS to experience the greatest benefits NFT has to offer to the book industry.