Book.io is a multi-chain web3 marketplace where one can buy, read, and sell both audio books and eBooks. These chains include Cardano, Ethereum, Polygon, and Algorand. The marketplace can also support other EVM-based blockchains.
It has a native token, BOOK, which you earn every time you sell and lend books. Its Web3 technology includes smart contracts, decentralized storage, and non-fungible tokens (NFTs). The mining of the native token takes place when readers read the content they bought in the marketplace.
A Bit About Book.io
A team of technology entrepreneurs that includes Ben Lllian, RJ Regenold, and Joshua Stone (who happens to be the CEO) founded book.io. The team started with an ebook distribution program that sold material from HarperCollins. They created an eReader and later developed the Web3 marketplace that is now Book.io. Today, the marketplace has a catalog of 186,000 publishers, including popular ones like Random House, Penguin, Hachette, Simon & Schuster, and Macmillan.
The Web3 marketplace aims to provide book users with true ownership of the reading materials they buy and gives them the right to resell the content as true owners. It also helps publishers earn from the subsequent resale of their content without following up with those who bought the work. This mode of book distribution is fast becoming the standard in the world of audiobooks and ebooks.
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Book.io is the Web3 marketplace for publishers. It lets people buy digital books and earn money when they read them. The marketplace uses blockchain technology to track the transfer of content from one user to another and acts as proof of ownership of the said material. The token BOOK is the mode of payment for rewards and currency for buying content on the ecosystem.
The technology makes use of DEAs (Decentralized Encrypted Assets), a technology that creates programmable books, which enables interaction at levels higher than digital books do. Book.io also uses the blockchain to establish ownership once you buy a copy. Smart contracts that are built into the blockchain provide rules on how these programmable books work and how payments are shared with the publishers.
One unique thing about this technology is that users mine the native token when they read books. It not only gives them a chance to earn something, but it also makes sure that users actually read the books that they buy. This is a great way to enhance the reading culture.
Utility of Book.io?
Publishers and buyers use the BOOK token along with the Book.io blockchain to buy and sell books in the marketplace. The token is the native payment method. Other people hold on to it after buying it on the ecosystem.
Several benefits come with owning and holding the coin. First, you are able to buy your favorite books on the marketplace. Second, it is a store of wealth, as you can convert the token into fiat cash. Third, if the value of the token goes up, there is a chance you will earn more value for the same number of tokens.
Book.io Price details
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Advantages of Book.io
+ BOOK provides an easy way to buy books from a large number of publishers on one website.+ Users mine the Book token by doing what they love: reading, among other methods.
+ Book.io is a multi-blockchain ecosystem, which means that it can be used as a utility coin.
+ The mining method encourages many people to read the books they buy.
+ BOOK is stable and can be exchanged with fiat currencies with ease.
Disadvantages
- The coin does not have much utility outside the book marketplace.- Its value is still low. It has not been climbing fast enough to stimulate token buying.
- Many people out there do not know about the coin or its use.
- There are no notable figures pushing the coin in the market to enhance its uptake.
- The BOOK token is not available on many of the leading crypto exchanges for ease of purchasing.
Costs
▪ Rated at 9/10The cost of transacting with BOOK is about 0.005% of the value of the transaction. The multi-blockchain token charges very low fees for transactions. The EVM-based blockchains boast ultra-low fees for transactions on their networks. You can enjoy these low fees when transacting with the coin.
Remember, the costs may fluctuate depending on the blockchain you are transacting on.
Reputation and Buzz
▪ Reputation rated at 9/10▪ Buzz rated at 8/10
Book.io has the reputation of being a leading audiobook and eBook selling website. Over the years, it has gained the trust of users across the world. With the introduction of the Web3 marketplace, users are more enthusiastic than ever to buy books. Besides, the collaboration with hundreds of leading publishers has also given authenticity to the decentralized book distribution idea.
Therefore, the entire ecosystem is well received in the books and blockchain industry and deemed safe to use. We expect the coin to see an increase in value in the near future, too.
FAQ
Are the books on Book.io available to a general audience?
Yes. Once you buy a book, it becomes available for you to read. There are readers for all the computing operating systems, whether iOS, Android, or browser-based HTML5.
How do I benefit as a publisher on Book.io?
As a publisher, you get a portion of the money that your users make from reselling your book. You are also able to sell your content on a book-focused website, which has a high chance of regular sales. The blockchain technology also safeguards your work from unauthorized reproduction.
History of Book.io
June 2007: A team led by Ben Lllian, RJ Regenold, and Joshua Stone creates a book distribution company and gets licensees from HarperCollins. They managed the company for about two years and sold it off.
March 2009: The team creates an eReader to enable people to read ebooks. It gains popularity and brings more publishing companies onboard. The team later creates an app for iOS and enhances the HTML5 reader to enable readers to enjoy books on browsers.
July 2012: The company enters into technology partnerships with leading technology firms like the Wall Street Journal, T-Mobile, Intel, Microsoft, General Mills, Apple, AARP, Google, CBS, and over 50 prestigious universities.
February 2020: The book reading investment starts to incorporate blockchain technologies to enhance the distribution and use of digital books. It allows users to buy books with cryptocurrencies and resell them.
May 2021: The incorporation of Web3 technology to decentralize digital book distribution services Customers can now show ownership of the material they buy thanks to DEAs.
November 2022: The tokenization and enhancement of the book-selling marketplace. Now, users can mine BOOK by reading. They can also lend and resell books online.
October 2023: BOOK (Classic) is replaced and reissued in a new Cardano token.
Screenshots from Book.io
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