- Book.io democratizes the current licensing model in digital publishing wherein owners can own their digital books and also sell them.
- This Web3 marketplace for digital books creates a secondary market wherein publishers and authors earn royalties on the resale.
Cardano-based Book.io, a Web3 marketplace, and exchange for digital books, continues to expand its ecosystem with new investors joining. Using its proprietary technology, Decentralized Encrypted Assets (DEAs), Book.io is building a new platform by putting ebooks and audiobooks on the blockchain platform.
In one of its recent tweets, Boook.io notes that it has been growing swiftly under the guidance of its esteemed early investor – Mark Cuban. Over the last year, Book.io has managed to get more investors under its belt.
As revealed on the @badcryptopod earlier, @mcuban is an early investor.
Grateful for all the advice and connections he’s given us along the way.
— Book.io (@book_io) April 12, 2023
Book.io democratizes the current licensing model in digital publishing wherein owners can own their digital books and also sell them if they choose to do so. This creates a kind of secondary market wherein publishers and authors get to earn royalties even on the resale. However, this is possible with the help of blockchain technology which creates an absolutely transparent market.
Books.io is working diligently to build a marketplace for ebooks and audiobooks and a self-serving portal for authors and publishers. Thus, it has emerged as a leading platform for NFT ebooks and digital content in the Web3 market.
During the launch of its blockchain utility platform as well as the eReader App, Book.io generated a total of $250,000 in net sales revenue. Additionally, it continues to generate daily royalties from secondary market sales. Joshua Stone, CEO of Book.io said:
We believe that the golden era of digital books has only just begun, and a partnership with Ingram will give us the opportunity to scale in order to meet the overwhelming demand we are experiencing, and expand our platform to give digital ownership to the mass reading market.
Book.io’s proprietary DEA technology
To facilitate an effective and efficient market for ebooks and audiobooks, Book.io uses its proprietary technology, Decentralized Encrypted Assets (DEAs) that allows all kinds of media to live perpetually on the platform, protected by blockchain.
Last year, two players – Ingram and BDMI announced major investments in Book.io. Book.io stated that it will work directly with Ingram’s vast digital and physical infrastructure for creating NFT ebooks and audiobooks from top publishers and authors. Furthermore, Ingram’s print-on-demand (POD) service Lightning Source will allow Book.io to bundle NFT ebooks with bespoke printed physical books.
On the other hand, venture capital group BDMI noted that it is excited about the growth achieved by Book.io in a short time. Keith Titan, Partner at BDMI, added:
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We have been closely following the explosion of NFTs in various media including images, video and music, and now Book.io is forging a new market for NFT ebooks. Their (Book.io) initial NFT ebook releases quickly sold out and generated hundreds of thousands of dollars in sales with an immediately active secondary market as well.
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