PublishingReinvented 44 - NFTs#2 + Why This Is Critically Important For Authors
If you haven’t read my first email about NFTs please read it here to get a background on what they are and what BGS will be doing.
As BooksGoSocial moves to launch its NFT Book Market for Special Editions - the 1st in the world that we are aware of, I want to tell why we are so convinced NFTs will change things for writers. It’s not about the high prices some NFT artworks are fetching, it is because:
Special NFT editions provide a way to reduce and eventually prevent book piracy. All book NFT sales will be registered on the blockchain and a % of the resale value, forever for every further sale, of NFTs can be paid to the author.
NFT Book Market sites will be able to offer “secondary & subsequent” sale royalties to the original author as a recurring payment on all sales. Primary NFT sales will be the main payment to the author.
We aim for long-term benefits with book NFTs. Initial sales will be based on low-priced ebook special editions. Later markets will offer hardback special editions delivered by Ingram Spark. Our aim is to build a long-term market, with the goal of helping authors and buyers by providing a way for special editions to be resold and all to benefit.
There will no transfer of copyright in your work or your cover designer’s work. We have requested unique cover-type artwork to be included in our first NFT Market showcase, to increase the perceived value of each special edition.
We will be able to use MOV files as our Special Edition covers. This will make for an exciting selection of Special Editions.
NFTs change the balance between book buyers and authors. Because sales are registered and traceable and royalties can apply on secondary-sales of your work a long-term income stream could develop as your work becomes more sought after.
We can include audio files with your special edition to further distinguish it from what you may be selling on Amazon. If you are in Kindle Select creating a clear difference between the ebook on sale on Amazon and your special edition will be critical. We have software that can turn text into an audio file too. or you can record a special message for your readers or add other text content. You are limited only by your imagination.
Will all this change things fundamentally for authors?
Yes, I believe this is as important as the growth of Amazon for the future of writing.
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:
Get a $40 discount on any BGS Service. Use coupon code bgs40 at our checkout to get that $40 discount! The code works for all our services. See them here.
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Laurence O’Bryan
Author
Founder BooksGoSocial & The International Dublin Writers’ Festival