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How Literary NFTs are Helping Writers Enter the Web3 – NFT News Today

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In January 2021, Blake Butler didn’t even consider releasing the decade. The novel was written in 2008, but was deemed unmarketable due to its complex structure, complex language and experimental form. It was completely unpublished, basically.

At the time, NFT mania was just beginning. Everyone from The Times to The Wall Street Journal was talking about how people made millions selling digital art and music. That February, Butler had an epiphany – turn the novel into a GUF and mint it as a non-fungible token.

After purchasing the NFT, the owner owns the GIF as well as the manuscript. Just one day after the novel was written, a stranger bought it for 5 ETH, equivalent to $7,569 at the time. And this is one example of how Literary NFT is benefiting writers.

What are literary NFTs?

While the traditional publishing industry has held steady for quite some time – it generates $700 million per year from print book sales alone – the need for a more decentralized and open publishing system is growing. This is where Literary NFT comes in.

Literary NFTs are digital literary works – poems, articles and books – written directly on the blockchain. That means the work is stored on a decentralized network of computers, making it censorship-resistant. This means that the work may not be taken down or modified without the author’s permission.

One of the most popular platforms for literary NFTs is Ethereum.

Popular Literary NFT

Although the NFT literature scene has been around for less than two years, many popular and well-known authors began their work as NFTs. Here are a few examples of literary NFTs that have made some noise online:

  • EtherPoems – One of the first poetry collections published on the blockchain
  • TheVerseVerse – A site that regularly mints the work of crypto-native poets
  • LIT Project One – Neil Strauss’s first major decentralized book
  • Kalen Iwamoto – Perhaps the first intersection between crypto writing and art
  • Creatokia – Marketplace for creators, authors and publishers interested in NFTs

With projects like these, it’s clear that the literary world is starting to take notice of NFT.

Advantages of NFT for modern writers

As a writer, you are always looking for new ways to get your work out there. You want people to read your work, but you also want to be compensated for your time and effort. That’s where NFTs come in.

NFTs offer many benefits to authors, including:

  • More creative control – When you mint your work as an NFT, you retain full creative control. You can experiment with new formats and mediums without worrying about censorship
  • fan connection – NFTs provide a direct connection between you and your fans. They can show their support by buying your NFTs and you can directly engage with them through comments and forums.
  • Monetization options – Not only can you sell your NFTs, you can also earn royalties every time someone buys or sells your NFTs. This provides a sustainable revenue stream that allows you to continue writing.

The new world of publishing

NFTs are giving a much needed boost to the literary world They offer writers more creative control, a direct connection to their fans, and sustainable monetization options. Although the NFT market has been volatile, it is clear that NFT is here to stay. So if you’re a writer, it might be time to start exploring the world of NFTs.



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