Benefits of Blockchain Technology
Upland Studios utilizes blockchain technology to offer authors and readers a new way of engaging with books, where ownership is transparent, royalty distribution is automated, and readers can participate in a decentralized, community-driven experience. By integrating NFTs and blockchain into book publishing, Upland Studios can offer a more equitable, transparent, and interactive model for the literary world.
Smart Contracts
Smart contracts (self-executing contracts with the terms of the agreement directly written into code) kick in every time a book NFT is resold on a marketplace. The smart contract automatically ensure that all parties receive their percentage of the sale as a royalty.
Immutable Ownership and Provenance
Blockchain technology ensures books or digital assets (e.g., eBooks) are recorded as NFTs. This creates a transparent, tamper-proof record of ownership and transaction history, which helps authors and publishers protect their intellectual property.
Tokenization of Books
Each token represents ownership of a unique digital copy or limited edition of a book. Tokenizing books allows for scarcity, creating the possibility for limited editions or special releases, which could increase their value and appeal.
Copyright Protection
By storing the book's digital version or content metadata (e.g., title, author, date of creation) on the blockchain, the system can serve as an indelible proof of copyright, which can help avoid unauthorized copies or pirated versions.