The First-Ever NFT Book Platform Gives Authors and Readers More Control
Rick Talbot, an author and IT professional, recently published a book. The publication, which is a science fiction novel, has been bundled with a non-fungible token (NFT), automatically giving the buyer certified ownership of the book. Rick also set up a platform where books can be purchased in the form of NFTs.
Supporting Book Sales in NFT Format
The publishing of the science trilogy titled “Acts of Love in Faraway Places” is accompanied by an eCommerce site by the author. According to Talbot, the platform will support the sale of books, as well as the minting and redemption of NFTs.
The eCommerce website can be found at Chainreads.com. The platform is distinct because all the books available are bundled the copyright ownership as NFTs, just like Acts of Love in Faraway Places. This makes it possible to resell or gift the eBook just like someone would do with a paperback copy.
Buy With Crypto or Credit Card
The NFT book system gives the author and reader more control than the conventional publishing system, which is practically controlled by the booksellers. Talbot said that the NFT book system of the platform is not cast in stone. This means that a buyer can purchase the NFT version or an ordinary eBook. Additionally, people who do not have crypto wallets can actually buy from the platform with their credit cards.
Talbot said that bringing NFTs to books has become necessary, considering that more than one billion people lack access to banking. According to him, access to a smartphone makes it possible for anyone to benefit from intellectual property, such as a book they have written, by having it recorded on the blockchain as an NFT. The adoption of blockchain also means that the author can be easily paid even without having a bank account.
“My goal with this website is to show people how blockchain and NFTs can transform the eBook world. Since most people don’t use crypto today, I made the NFT optional. That way, anyone who wants the book can buy using their credit card and then mint the NFT as a second step. The NFT allows them to gift the book to a friend, or even sell it used, just as if it were a physical book,” said Rick Talbot.
Eliminating the Bottlenecks Faced by Authors
The Chainreads CEO said that the use of NFTs and blockchain will make the world of books more equitable for authors since they have more control over their works. He added that the transparency of the blockchain would eliminate some of the bottlenecks encountered by authors, especially those from developing countries.
“Using blockchain and NFTs, we can make the book world more transparent and equitable, allow authors to have better control over their work, and remove some of the roadblocks that face authors who live outside of North America,” said Talbot.
Talbot also stated that some of these bottlenecks are the reason why Chainreads was created. Rick Talbot, who is an Information Technology expert, is confident that blockchain and NFTs can revolutionize the publishing industry and is demonstrating his belief through Chainreads.
