In the last decade, the most common way of reading a book was investing in your kindle or kobo, buying books from Amazon and other bookstores, or reading the downloaded ebooks through pdfs. This made it easy for people to access books but surged piracy and copyright issues.
Both practically and creatively, NFTBOOKS can significantly increase the overall potential and relevance of the publishing industry.
Chau Nguyen and his team took a revolutionary step toward the publishing industry and came up with the idea of blending NFT with books. The NFTBooks (NFTBS) project is dedicated to promoting NFTs for books, articles, ebooks, and other publications. The idea promises to be a marketing tool for writers, allowing them to sell their works and receive passive revenue, meaning the author will benefit every time someone reads it. The NFTBooks (NFTBS) platform enables consumers to read books at a fraction of the price.
How Are NFTBOOKS Different From Amazon Books?
Let’s’ discuss what distinguishes NFTs from the digital versions of books accessible on Amazon, Barnes & Noble, Indiebound, and other platforms.
When you buy an ebook on Amazon, you don’t have the same ownership rights as buying a physical book. Yes, you purchased it, but you only have it for as long as Amazon continues to provide it. Along with the rest of Amazon’s platform, that book would vanish if the company collapsed tomorrow.
On the other hand, NFTs have more in common with print books– it’s your ownership, period. It will not vanish due to the whims of a third party. You don’t just own a copy with NFT; you own a specific copy among a sequence of copies. Consider the first, second, and third editions, and so on.
NFTBOOKS—A Halt On Pirated Books
Pirating an NFT book is far more difficult for similar reasons than challenging a creator’s copyright to work. Everything is recorded in the blockchain. That’s only one of the numerous advantages of NFTs for books. Using smart contracts in NFT for publication is another game-changing feature.
When a book is published, several parties usually receive a percentage of the sales. Depending on the publisher, they are paid out a few times a year, with notoriously long waits. Implementing these contractual rewards is incorporated directly into the transaction via a smart contract. The payment is automatic and instantaneous. Contingencies for changes in such rewards over time, or even after an author’s death, might also be included.
Through NFTBOOKS, readers and authors worldwide can access books of various genres and own them legally. This will help them increase their quality of life through reading; they can also sell them—once they are done reading!