You may have heard about NFTs.
Read this New York Times article for how they are exploding. And how the Italian copyright agency are moving to NFTs here.
I know, it’s all very new and techy, but here’s why I think NFT’s provide answers to the challenges authors face today:
We need to find ways to make more money from each book, not just to be chasing the market down to 99c or free ebooks as the competition soars and Amazon demands we advertise to get seen. Special NFT editions as collector’s items can help us.
We need to find a way to get compensated when people sell second-hand books, even marginally. Imagine getting 10% when your book is resold, each time, as ownership is recorded in an NFT blockchain forever.
It would be great to be able to compensate, even marginally, the editors and cover designers who make our work sing. Wouldn’t it good to compensate and motivate these professionals with one or two percent royalties? And if you don’t want to, you don’t have to with NFTs.
Wouldn't it be good to be a step ahead of Amazon, to offer the same book on Amazon, but an NFT version with extra graphics, a video interview of the author talking about their inspiration for the book or a unique audio file or extra text file in a dedicated NFT book store?
There are other options too with NFTs; animated covers, collections from multiple authors, ebook NFTs with unique front plates, and people holding your NFT as an investment in case you become a bestseller and the price escalates!
NFTs can also help address the challenge of book piracy, as each owner is recorded and sales are always registered and traceable and royalties can apply on all sales.
Proof of creation can be provided with ISBN number, ASIN number and/or a plagiarism test.
Yes, anyone can mint an NFT, but you may want to consider being part of a network to help you with:
Creating special edition graphics and animated covers.
To be part of a group of authors whose book NFTs are on a page together so we can all support & promote each other.
BooksGoSocial putting marketing reach and dollars behind the marketplace. We have 12 Twitter accounts and half a dozen Facebook groups with over 600,000 followers and emails lists, and over 1,000 followers on YouTube and with a ClubHouse meetup too coming and we will be spending money on ads promoting this and getting mentions on prominent blogs, for what will probably be the first NFT book store.
If you want to register your interest please fill out the form at this link. It will be invitation-only to start, but we will include as many authors as we can.Here is a video guide to our main services - if you want to know what else we do:
🔗 https://www.videoask.com/fbtb2bpdv
+ Here is a practical offer to build your April book sales:
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Laurence O’Bryan
Author
Founder BooksGoSocial & The International Dublin Writers’ Festival
i am glad you are thinking about a lot of the things i am thinking. thanx for liking my tweet about the future of nft written art. cheers!