NFT books: The Next Level of Digital Publishing
Technology moves really fast. Almost every day, new innovations are entering the market that are gradually transforming the world into a completely different place. Most recently, blockchain technology caused a great stir.
We’re here to keep you on track! Creatokia will support you in reaching the next level of digital publishing: publishing NFT books on the blockchain.
We explain what NFTs are and how publishers can benefit from NFT technology.
NFT books aim to solve this problem. NFTs are unique, non-replaceable parts of the blockchain that can be identified explicitly. This recreates the uniqueness of digital books. NFT books can be used to create artificial scarcity, which increases the value of individual editions and creates a collecting interest. Rare first editions, strictly limited special editions and extraordinary cover art: all this is finally possible digitally with NFTs!
Digital publishing on Creatokia: Drop Types
A drop is when new Digital Originals are released. One can distinguish between different kinds of drops. On Creatokia, the release of Digital Originals can take place in different forms.
We will offer you three different types:
Auctions for Unique Editions
If you have a really unique piece of literature you want to release, you can do this in a typical English Auction. These will be one of one pieces and as such the rarest Digital Originals.
Time Limited Drops
You can do a time limited drop, which means that buyers only have a limited amount of time to buy them. This might seem counterintuitive to the usual sales, but this artificial scarcity creates value and strengthens demand for these rare items.
Unit Limited Drops
Last but not least there are drops limited by the amount of available units. This means, if it’s a really special piece which thousands of people want to buy, but only 100 units will ever be released, only few will be able to get one. First come, first served. Just like in time limited drops, this artificial scarcity creates value and strengthens demand.
All people who have not been able to get the Digital Original of their choice as part of the initial sale, can buy them later on at our marketplace (after the original buyer minted the NFT related to that Digital Original), generating revenue for you again!