How Crypto Is Evolving the Future of Books and Publishing – Esquire

Self-publishing

What if you could own a stake in Harry Potter?

What if the book series functioned like a publicly traded company where individuals could “buy stock” in it, and as the franchise grows, those “stocks” become more valuable? If this were the case, someone who purchased just three percent of Harry Potter back when there was only one book would be a billionaire now.

Just imagine how that would affect the reading experience. Suddenly a trip to Barnes & Noble becomes an investment opportunity. Early readers could spot “the next big thing” and make a $100 contribution that becomes $10,000 or even $100,000 if the book’s popularity grows. If readers could own a percentage of the franchise, they might then be incentivized to help that book succeed. They could start a TikTok account to promote the book via BookTok, or use their talents as filmmakers to adapt it to the screen. All of this stands to increase the value of their original investment.

Related Stories

“Imagine when all of an author’s readers can suddenly make money as well,” says ​​Margarita Guerrero, head of partner and publishing relations at the publishing startup Readl. “How much more would they be engaged?”

This is the future an emerging number of publishing startups are after—aiming to change the value of a book from a $10 Amazon purchase to a $100 investment opportunity, while creating a market of readers excited to see the books they love succeed. It might not work—finding readers (and investors) will be a challenge—but if they succeed, their vision could bode very well for the author who, in this scenario, could retain a percentage ownership of these “stocks” and earn value alongside their investors—just like Jeff Bezos retains a percentage of Amazon stock and grows richer as his company’s shares gain value.

This is a middleground compared to how it works today. Typically a book’s rights are owned by a publishing house (if traditionally published) or by the author (if self-published), but these startups imagine a third option—where authors and investors jointly own the copyright—that could be made possible by technology known as the blockchain. Hailed by many as “the future of the internet,” the blockchain is a digital ledger where “blocks” of information are added to a “chain” of them, but never removed. This creates a ledger of information that is publically stored on a distributed network and accessible by anyone. Imagine, for example, if I could see a ledger of …….

Source: https://www.esquire.com/entertainment/books/a40654712/crypto-books-future/

RSS Feeds

Leave a Reply

Your email address will not be published.

Related Posts