NFTBooks (NFTBS) is an innovative service that allows users to read books at a fraction of the cost. The platform has started its values, which are. To become a one-stop-shop for novelties, where NFTs can be used as currency to buy any type of content including but not limited to books, magazines, articles, eBooks, and so on. To empower both authors and users to read books at a fraction of the cost while still generating passive income for the authors.
To promote NFTs as a valid currency that can be used in applications such as games and social media platforms. To develop an innovative content platform where all forms of content are valid. Here, users will be able to purchase books using NFTs while authors can promote their books on the front page of the website where they have more traffic. Let’s have a detailed look at the NFTBooks review to explore all of its unique features.
Working of NFTBooks
NFTBooks is a decentralized books store that will be based on NFT (non-fungible token). NFTBS plans to revolutionize the publishing and selling of books in the world today. There, authors can sell their work using the platform which is blockchain aided. Furthermore, readers get to buy cheap and incredible eBooks from all over the world to enjoy reading.
A book platform not only includes publishing books but also buying and selling books. The decentralized nature of NFTBooks makes it possible for everyone to participate in the process without having an account or credit card to sign up with. Users get to access thousands of authors’ work at their fingertips 24/7.
Authors on NFTBooks can list their books for just a token fee. They also get to add interactive multimedia content such as pictures, videos, and audio features in any book they choose to publish on the platform. For buyers, this platform provides them with access to worldwide literature which is available for purchase using tokens; the NFT.
There is no more waiting for months before your book is published; you can do it at the comfort of your home and upload it on NFTBooks, where it is easily purchasable on NFT. The platform also allows authors to earn 100% of their revenue on each sale made on the platform, without having to fight with the middlemen.
Authors are given complete control of their work; they can freely price their book which no third party has to intervene in. They also have the freedom to upload multimedia content, provide feedback to buyers on how they want their books published and distributed among other benefits.
Readers of NFTBooks are encouraged to engage with the author through ratings and reviews, which will increase the exposure to the author’s work. This helps the author gain traction at a faster pace than without NFTBooks, as it opens up another avenue of exposure.
NFTBooks authors are responsible for the promotion of their work through social media platforms, guest blog posts on similarly themed websites, or any other method they can come up with. Readers are encouraged to engage with the author through social media platforms to make the reading experience more enjoyable. Authors are also responsible for creating an audience of readers who will keep coming back for more.
Authors retain the rights of their work, by publishing it under a Creative Commons License, which allows them to share their books with anyone they deem fit. They are also responsible for reporting infringements of their copyright over their book through NFTBooks’ DMCA takedown process.
Elements of NFTBooks
- Author
The author focuses on the needs of readers who want to publish their works in both print and electronic format while setting their publication fees.
You will have complete control over how your book is presented, what you charge for it, and when you decide to update it. The entire process can be managed through Author’s customized dashboard where you will be able to track sales, access royalties reports, or upload updates – all in real-time. You do not even have to set up a payment account since Author accepts all the NFTs.
NFTBooks is also ideal for authors who want to self-publish their works while getting quality peer reviews from the community to improve the book before publishing it through traditional channels – whether they are looking for technical review, proofreading, or plagiarism check.
The decentralized book trade will allow authors to create and sell books without intermediaries. This will enable the author to own the rights of their work and make a profit from its sale. The market for digital assets that represent books exists today, but there is no easy way for an author to generate any kind of non-fungible tokens (NFTs).
NFTBooks is a platform that will allow authors to generate an NFT for their book. The author can choose between making an ERC-721 or ERC-20 token. Once the tokens are created, they are immediately available for sale on the website using the MetaMask wallet paired with either MetaMask or Portis wallet.
The author will be able to set a price for their book and track all of their earnings from it in one dashboard. All the tokens within the platform will be created on the Ethereum blockchain, allowing anyone to transfer ownership of digital books without any intermediary. To sell an NFT-based book, a person must have both private keys to the wallet and a MetaMask browser extension.
NFTBooks will provide an easy-to-use platform for authors to generate and sell NFT publications without geographical restrictions or any intermediary party. The solution will also give back the privacy of ownership to authors, letting them own their work and making a profit from its sale.
- Translator
“Translator”, also referred to as “Translation Manager”, is an open translation system where anyone can translate books and authors, facilitating the communication of ideas in the world. It offers readers a choice over which books are translated into their language by allowing all translators to offer their services. The uploaded translations will be available for anyone to read, whether they are the owner of the original book or not.
In addition, unlike the traditional publishing system where one must accept a book contract from an agent or an editor, Translator offers the benefit that anybody can enjoy free reading of their favorite books. It can be said that Translator is a new method for publishing your work because you do not have to undergo the process of having your work approved by an editor or an agent.
- Lessor
A Lessor is a publisher that rents books to retail customers. They receive the book from an author and then allow readers to rent or purchase it for a short time, usually about 1-2 weeks. Once the rental period has passed, the book will no longer be accessible unless you buy it at full price! However, if you do decide to purchase it, the publisher will get a small cut of the sale. The Lessor ensures that anyone can afford to read any book at any time, while also allowing authors to make money by renting out their books. A win-win situation!
- Reader/Borrower
As a borrower, you can read as many books as you want for free. However, each time a book is borrowed from an NFTBook author, they receive a ‘commission’ from them based on the commission percentage provided by the author. If you have enough NFTs to lend out to borrowers, you can become a lender and receive commissions, too!
- Investor
The reason these individuals are investors is not for their gain of NFTBooks, but the financial benefits so they can continue to support the community. These individuals have a great status in the community, whether it be their work or contributions. Some have received much praise so tokens may be used as gratitude or payment to continue supporting the initiative. Tokens can be used to rent, purchase, or publish books.
They engaged in online transactions using their tokens in their wallets. They also make money on the purchases of all the books. Even they also the commission in terms of profit on every network transaction. They also have the number of coins in their wallet which keeps growing.
Enriched Features
- NFTBS token
NFTBS is one of the best tokens of the Binance chain that was released at the end of June 2021. It facilitates deposits, withdrawals, and trading of digital assets on the decentralized Binance Chain.
NFTBS tokens were created after extensive research into an incentive model that rewarded both investors and blockchain witnesses (miners). Unlike most cryptocurrencies, NFTBS Tokens pay holders’ dividends. The built-in redistribution mechanism is the future of blockchain!
The maximum supply for $NFTBS is 100 quadrillion, and each transaction (buy or sell) pays 2% as a dividend to existing holders. The $NFTBS token will be the only currency used for creating, claiming, purchasing, and selling books on NFTBooks.
- Book Value
Currently, people have read books for hundreds of years, if not more. The fact that they are still gaining steady popularity in the world today is proof enough to understand why there must be some inherent value attached to it. It has been found within NFTBooks’ research that people enjoy reading physical books as opposed to eBooks. It is the same reason why people watch movies in theaters instead of on laptops or computers at home. The experience of it all is incredibly different, which accounts for a large part of its value.
Reading books enables team members to grow stronger in body, mind, and spirit while enjoying other necessary benefits, too. NFTBooks believes that this is one of the main reasons why people read so much. This industry has been going strong for a very long time and it is not going to be slowing down anytime soon.
However, there is a problem with most physical books in existence today. NFTBooks’ research has found out that the majority of books are kept in air-conditioned rooms, away from the heat. This makes it difficult to read at certain times of the year because they can easily be damaged by heat and direct sunlight.
Though rare, some people do not have them in their homes. There are several reasons why this may be happening but one thing is for sure: these books are a rarity in the world. It also means that those who have them can demand a hefty price for it- one that is far more expensive than the usual price of physical books today.
In conclusion, NFTBooks believes that physical books hold value to readers and as long as they provide an enjoyable experience, they will not lose relevance in the market anytime soon. This is why NFTBooks has designed an ecosystem that will benefit everyone including notable publishers, authors, and readers.
NFTBooks’ roadmap
NFTBooks is a decentralized and self-sustainable platform for the long-term growth of the non-fungible tokens economy. It aims to serve as a space for people wishing to learn about NFTs, as well as those wishing to capitalize on this new wave of economic opportunities.
NFTBooks is the world’s first NFT-specific book publisher, enabling authors to upload their book onto the blockchain with ease and rent it out many times over. This means that books can be available for re-reads eternally, at a fraction of the cost you would expect under traditional publishing methods.
The NFTBooks platform also enables readers to purchase books from their catalogs, for personal or professional use. They have a variety of different genres and styles available in thier well-curated library, all for sale at the lowest prices possible. Furthermore, through a partnership with Scrivito, a similar concept can be implemented on existing platforms to introduce NFTs. This can be used to increase audiences and expand a business’ impact.
The NFTBooks token is an ERC20-compliant asset, compatible with all exchanges and wallets supporting the standard. It is backed by their platform’s critical metrics, which allow investors to make informed decisions based on the actual performance of the company they choose to invest in.
Price prediction
Web 3.0 is a new epoch in the development of the internet, where information and value are decentralized instead of being owned by anyone. This results in inaccessibility from all over the world without censorship from any central authority. It is also based on cryptographic systems that ensure decentralization, hence making it impossible for a single entity to censor or own data.
A key component of Web3 is a set of a new generation of protocols that define the rules for online interactions between different agents. Those new technologies let users communicate and exchange data without requiring them to trust any third party or central social network infrastructure.
All these new capabilities are provided by the decentralized ledger technology, which allows building an open digital economy with all the benefits of Web 2.0, without any of its drawbacks. This is going to make a great impact on the price of NFTBooks.
The price of the NFTBS token has increased over 400% from its all-time low of $0.00000000000007 on September 13, 2021, to its high of $0.000000000167 on December 29, 2021. The token reached its all-time low only two weeks after it was listed on CoinMarketCap in August 2021 at $0.000000000000005.
As the craze of non-fungible tokens catches on, new crypto follows in waves after a successful release. For NFTBooks, a crypto asset based on the Ethereum blockchain that is tethered to a decentralized marketplace selling NFTBooks with Ether as its native currency, the future is brighter than ever for this crypto.
Price Prediction is $0.00001 and possibly more if the craze of NFT books continues to rise. With a solid use case, unique angle, and a revival of the crypto markets currently in progress, crypto experts believe the price of the NFTBS token can reach $0.00001.
Conclusion
The platform has dedicated sections for authors to publish their books by paying minimal fees and the readers can get quality original content without spending too much of their hard-earned money. This is solving one of the biggest problems in the world of cryptocurrency and digital assets, which is the high cost associated with buying/selling these tokens to generate value out of them.
Taking this model further, authors can invest to make their published books tradable NFTs on the Ethereum blockchain, where they can be bought and sold just like any other cryptographic token. This is another unique feature of NFTBooks, where the author can choose when to make their book tradable and when not to. In addition, readers get a chance to buy books at a cheaper rate before they become tradable.
The platform makes use of both ERC-721 tokens for non-fungible assets and ERC-20 tokens for fungible assets, allowing users to seamlessly integrate their own NFTs into the platform. NFTBooks is powered by its native token, NFTBS (ERC-20). Each book on NFTBooks has a unique ID attached to it, which can only be used once. This ensures that each book on the platform has a unique value to it.
