Updated: Jul 26
Is Book.io the future of publishing? Token now on sale!
In this article, we look at Book.io - a platform that's hoping to bring book publishing in to the web3 world with the Read-to-Earn model. We cover the investment by Mark Cuban and the recent token sale.
Book.io is a revolutionary platform that hopes to change the way people view and interact with digital books. For many years, readers have been faced with the challenge of not actually owning the eBooks or audiobooks they purchase. Rather, they are only buying a license to view the content on a particular platform. As such, they cannot sell or give away their books once they are done with them.
However, with the advent of blockchain technology and non-fungible tokens (NFTs), Book.io is planning to reinvent digital rights management and provide a new ecosystem for buying, reading, and selling eBooks and audiobooks. This next-generation blockchain technology will enable readers to truly own the digital books they purchase. It will also allow them to sell their books in an open NFT marketplace and see the total value of their library.
Unlike traditional eBooks, Book.io offers fully decentralized encrypted assets (DEAs) that are living on-chain forever. As a result, readers can now truly own their eBooks and audiobooks and sell them on secondary marketplaces. Authors and publishers also earn royalties on the secondary sales of their books in perpetuity, rewarding creators for their hard work.
The platform works directly with major publishing houses and indie authors to create a whole new type of digital book. From mass trade editions to ultra-rare collectibles, DEA’s enable a vast array of options. Book.io is also blockchain agnostic, allowing creators to choose the chain that works best for them.
Book.io's initial launch was on Cardano, but they have since expanded to include mints on Ethereum, Polygon and Alogrand.
After his earlier investment in Book.io. Mark Cuban is now set to release his e-book titled "How to Win at the Sport of Business" as a non-fungible token (NFT) exclusively on the Polygon network. The NFT collection will consist of 10,000 e-books, each featuring 285 distinct AI-generated cover designs.
To make the platform even more attractive, Book.io has introduced the Read-to-Earn model, which enables users to mine $BOOK tokens by reading the books they purchase. Every four hours, an allotment of tokens will be distributed based on how much a user reads compared to other readers. The tokens can be used to purchase new digital books, receive discounts, unlock exclusive features, and join content-based book clubs. $BOOK tokens will also be required to create new content from the creator side, generating supply circulation.
Book.io also offers benefits to authors and publishers. For instance, authors can expect to earn 70% of all revenue on the initial sale of their books. They also get to set the royalty percentage they receive on all secondary sales. Furthermore, authors do not have to be exclusive with Book.io, and the platform handles the crypto conversion for them. Additionally, publishers can expect similar benefits, including a 70% revenue share, control over royalty percentages, and the ability to publish their titles on the platform without exclusivity.
The platform also provides a mobile app that makes reading a pleasure. The app is set to be released along with the marketplace and book exchange.
Book.io have announced the launch of their native token. The details of the sale can be viewed here. The token will be a native Cardano token. At time of writing, 55% of the token supply had already been sold.
Book.io is hoping to revolutionize the world of digital books by providing an open marketplace for buying, reading, and selling eBooks and audiobooks. The platform is based on blockchain technology and NFTs, enabling readers to truly own the books they purchase and sell them on secondary marketplaces. Additionally, authors and publishers benefit from the platform, earning royalties on secondary sales and communicating directly with their readers. With the Read-to-Earn model, users can earn $BOOK tokens by reading books, unlocking exclusive features, and joining content-based book clubs.
With such a comprehensive reading ecosystem it must be attractive to publishers and authors to experiment with publishing in this way. If Book.io can secure some exclusive releases from well-known authors, then this ecosystem may be one to watch in the next bull market.
Disclaimer: Nothing on this site should be construed as a financial investment recommendation. It’s important to understand that investing is a high-risk activity. Investments expose money to potential loss.