How Web3 Developers Can Use the Phantasma Blockchain to Transform the Publishing Industry
The rise of NFTs and blockchain technology has brought unprecedented opportunities for the publishing industry. From books to comics, the ability to tokenize intellectual property, provably authenticate work to combat piracy and unauthorized distribution, and create new revenue streams is an exciting prospect for creators and publishers alike.
NFTs, or non-fungible tokens, have the potential to revolutionize the way books and comics are sold and owned. By creating unique digital assets, creators can tokenize their work and sell them as part of limited-edition collections. This not only creates a new revenue stream for creators but also offers collectors the opportunity to own a piece of their favorite books and comics. This creates a sense of exclusivity and scarcity, driving up the value of the NFT and potentially creating a new market for limited-edition digital content.
The unique properties of Phantasma smartNFTs take things to another level, creating an exciting option for publishers, authors, and content creators to release a low-cost unique digital collectible alongside a launch.
Publishers and authors can use the locked content function to add in bonus features such as free tickets to book signings and events, free merchandise, behind-the-scenes footage of the creation process, concept art or sketches, audio commentary, or even an entirely new chapter or alternate endings and storylines, bringing the holder of the NFT further in and engaging them in new and innovative ways as only the holder of the NFT can access the locked content.
Why not create multiple cover variants for a graphic novel series, each as its own smartNFT layer? Fans could then collect each cover variant as a separate NFT, and even combine them into a complete set NFT through our multi-layered function.
Furthermore, the timed smartNFT feature allows authors and publishers to create flexible and innovative ways to engage their fan base through timed subscriptions and time-limited access to virtual book signings or Q&A sessions.
Another benefit of using a fully audited layer 1 blockchain like Phantasma is the ability to create decentralized marketplaces. By removing the need for a centralized intermediary, publishers, and creators can sell their work directly to their audience, without having to give up a portion of their revenue to a middleman.
Phantasma, as a layer 1 blockchain, provides a powerful platform for creators and publishers to tokenize their work. With its high-speed transaction processing and very low fees, it offers an ideal solution for the high-volume, low-value transactions that are typical in the publishing industry and create a low-cost option for promotional purposes such as giveaways, contests, and other marketing initiatives.
Furthermore, Phantasma’s built-in smart contracts enable creators and publishers to easily manage royalties, revenue sharing, and other important aspects of the publishing business. The royalties allow for perpetual revenue through secondary sales. Something not available on all blockchains.
The potential for smartNFTs on our Layer 1 blockchain for the publishing industry is immense. By creating unique digital assets, offering limited edition content, and utilizing powerful platforms like Phantasma, creators, and publishers can unlock new revenue streams and transform the way books, comics, and other forms of intellectual property are bought and sold.
As a web3 developer, researching and leveraging the capabilities of the Phantasma blockchain can open a world of possibilities for your publishing projects and ensure your collectibles will remain authentic and valuable for years to come so connect with our team to learn more.