Digital textbooks sell as NFTs by pearson

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Educational textbook publisher Pearson has just announced its plans to turn its textbooks into NFTs. Students do not typically need their textbooks after finishing their studies. Therefore, dropping textbook NFTs that can be sold on the secondary market is an excellent opportunity for Pearson to make money from second-hand sales.

Pearson’s CEO Andy Bird explained that the sale of textbook NFTs allows the publisher to track the ownership of the textbook, even when it is resold.  This new plan will continue to cement Pearson’s digital strategy after the introduction of its Pearson+ subscription app in 2021. Although selling books as NFTs is not a completely innovative concept, it is safe to say that book NFTs have not taken off in the same way as music or art NFTs. This is because many publishers are still wary of NFTs, especially since their target audience places value on printed books.

However their strategy could encourage other publishers to follow suit. After all, offering multiple media opens up the industry to people who may not have access to the printed edition.

Pearson is part of a growing list of educational institutions jumping on the metaverse bandwagon. Recently, the Hong Kong university of science and technology launched its first metaverse classroom. Germany’s Bookwire has created an NFT marketplace for the publishing industry. What’s more, Roblox already offers lesson plans for many topics and age groups.

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