The used market is actually a thorn in the side of all companies. Because they don’t earn anything on the second-hand market. The arguments on this topic are varied: some say it is legitimate if companies want to earn money. Others argue that many first-time buyers already factor in the resale value, so sellers already indirectly have something from the used market. New ideas are now blossoming in the publishing industry. One of the world’s largest textbook publishers, Pearson Plc, is considering monetizing second-hand sales through blockchain and NFTs.
Bloomberg reports, that the publisher or its CEO Andy Bird wants to generate income from resold e-books by using the blockchain and NFTs. Printed books from the publisher would be resold up to seven times. Unfortunately, Pearson only earns money from the first buyer. Digital sales offer many opportunities to change that. So one strives to track and monetize the resale via Ledger.
My prophecy: Other publishers and other providers of digital goods will come up with similar ideas. However, the market for NFTs is currently in free fall and so the future will have to show whether and how Pearson will really go all out. Much will depend on the type of implementation. In any case, the market for textbooks is shifting more and more from printed versions to e-books and subscriptions.
Pearson doesn’t just look at the blockchain and NFTs, you also look very closely at the current efforts for the metaverse. However, it is of course still very vague as to what will come out: I always have the impression that every company has a rough concept, but there are not yet any more than nice / vague ideas. At the very least, Pearson says he’s already assembled a team to look at what the future of the Metaverse could bring for the publisher and textbook space.
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