Ingram Content Group, one of the leading American book publishing industry service providers, has invested in Book.io, a Cardano-powered NFT marketplace, indicating its support for Web3.
With Book.io, readers will be able to own e-books and audiobooks as NFTs, shaking up the current licensing system.
The project would also allow publishers and authors to earn royalties and take advantage of new direct author-to-reader engagement channels.
Ingram’s huge digital and physical infrastructure will also allow Book.io to offer a hybrid service—physical and digital—because after minting the NFT book, customers will also be able to print it and have it delivered to their door.
Book.io generated over $250,000 in net sales income within 60 days of introducing the blockchain utility platform and eReader dApp, and continues to generate daily royalties from secondary market sales – with individual NFT eBooks selling for over $4,000 USD apiece.
The seed round will allow Book.io to continue its development and growth trajectory, revolutionizing the reading market.