Textbook writer Pearson is planning to promote its books utilizing non-fungible tokens (NFTs), and earn by way of secondary gross sales, thus writing an entire new chapter in the Web3 house.
Publishers couldn’t make any cash from second hand gross sales, however with digital textbooks, corporations have grabbed a chance to accomplish that.
Pearson CEO Andy Bird is of the opinion that NFTs have the power to assist publishers earn cash from textbook resales, though he didn’t disclose his concrete plans.
Bird revealed, “In the analogue world, a Pearson textbook was resold up to seven times, and we would only participate in the first sale.”
Pearson stated that with blockchain and NFTs, corporations can take part in each sale of that individual merchandise because it goes by means of its life. “The possibility to participate in downstream revenues […] I find really interesting”, he added.
This transfer could be seen as an enormous step for the publication trade as a result of many publishers are nonetheless not sure of NFTs, particularly as their audience nonetheless needs to cling round printed books.
Compiled by Coinbold