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.
The Blockchain and so called „NFTs” (Non-Fungible Tokens) allow the creation of unique digital assets. We call them “NFT books”. These assets cannot be copied, are safe from counterfeiting and can be owned, traded, collected or sold. With NFTs, it’s the first time people can actually own a digital item. A NFT book could be a unique one of a kind edition or a limited sale based on a timeframe or a maximum amount of items.
After this initial drop, you will profit from every single sale that is being made. Every transaction on the Blockchain can be tracked and royalties will be directly given back to the publisher. This means that you not only earn with the initial sale of your products, but you will also earn money continuously, as long as people trade and sell your NFTs (100% guaranteed on Creatokia market place - read more about royalties here). This is revolutionary publishing!
To be more clear about the process, firstly a so-called Digital Original is created. A Digital Original is a collection of files such as e-books, audiobooks or artworks. The difference between a Digital Original and any other book / e-book / audiobook sold anywhere else on the internet is that our Digital Originals are limited - no other copies will be created. The Digital Original gives the owner the right to download and use the unlockables (e-books / audiobooks / artworks / etc). The Digital Originals cannot be re-sold.
When a Digital Original is bought, at the same time or later, a NFT linked to the Digital Original can be created. This NFT is minted on the blockchain. This NFT can be thus re-sold (traded / auctioned) or collected.
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!