The global book industry has undergone a major revamp in the last ten years. The journey that started centuries ago with physical books now offers readers the choice to read it on handheld devices (HHD) and listen to their favorite novels on audible book services. Not only this transformation has bought a change to the content but also to the business around the content. The impact is evident from the fact that publishing houses have diversified their product offerings.
The business that started as content publishing has evolved to how readers consumers those contents. Every publisher provides physical books, eBooks, and in some cases audible books as well.
The technology not only impacted the content but also how the businesses are done around the content. Publishing houses no longer hold the bargaining chip. There are many renowned platforms providing self-publishing services to authors. In the US alone, as many as half of the books published every year are self-published books. Now, authors are not just the source of content but also hold an equal share in the way the content reaches their readers.
In short, both the content and businesses around the content have changed in the last decade, but what about the end-user — readers?
For readers, while the experience of consuming the content has certainly transformed, the one aspect where the condition has gone from better to worst is the ownership of the content. Earlier, readers were the owners of the book. They would resell it, lend it, or if required could even auction it at 10x price. With eBooks, the aspect of ownership has been lost. Readers do have the convenience of reading/listening to books as and when required but they don’t have ownership over the content they buy. A survey conducted on American readers proves that the top 30% of readers read at least three books (non-academic) every month. This 30% of readers spend $45 every month i.e. $540 a year on reading with no ownership over what they buy. (The subscription services that cost around $12.99/month on HHD devices do have lower spending however, it is hard to find the latest collection.)
This is where comes nBook. nBook not just allows the reader to read the book but also provides the privilege of owning it. With nBook, readers can read it, re-sell it, lend it, share it and do more. nBook is not just a book but an asset and the owners are free to conduct any commercial business with it as long as it is not piracy. nBook is the missing piece in the evolution of books. You have the first edition of the title, auction it. You have a limited edition, re-sell it for a higher price. You have more than 100 books, well go ahead create your public library and earn from lending it to the readers.
The opportunities for the readers are unlimited with nBook because nBook is not only about reading your favorite story. After all, it’s not just a book but an asset as well.
Read more about our project of transforming the publishing industry on www.nalnda.com — a decentralized ecosystem for readable content.
