Educational publisher’s move into non-fungible tokens is intended to claw back some of the income lost to secondhand sales
(2 Aug 2022) Textbook publisher Pearson plans to profit from secondhand sales by turning its titles into non-fungible tokens (NFTs), its chief executive has said.
Educational books are often sold more than once, since students sell study resources they no longer require. Publishers have not previously been able to make any money from secondhand sales, but the rise of digital textbooks has created an opportunity for companies to benefit.
NFTs confer ownership of a unique digital item by recording it on a decentralized digital register known as a blockchain. Typically these items are images or videos, but the technology allows for just about anything to be sold and owned in this way.
Find out more from the Guardian here.