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To find out even more about this project, check out our deep dive of NFTBooks.

What Is NFTBooks (NFTBS)?

NFTBooks is an NFT project concerning ebooks, books, magazines and articles, aiming to help people read a book at a fraction of the cost without spending time searching for pirated books. NFTBooks wants to achieve this transformation by following four main guiding principles:

• It builds a model that brings value to readers at very low costs.
• It aims to create a highly scalable platform that is easily accessible for all book lovers.
• It will distribute a fair share of the value to each user.
• It will encourage competition between authors and book owners to foster growth.

The project’s ecosystem consists of five parties: author, lessor, reader/borrower, investor and translator. With this scheme, the project tries to overhaul the current status of the book and publishing industries. Instead of readers relying on the availability of pirated books, they will have access to them through the ecosystem of NFTBooks, thereby benefiting themselves and authors alike.

In the future, NFTBooks plans to offer an improved marketplace, merchandise store and scale its audience to 1,000,000 token holders. Furthermore, it aims to build a system to facilitate borrowing books from lessors and build a voting mechanism to review books.

Who Are the Founders of NFTBooks?

NFTBooks lists a team of eight behind the project, most of whom are based in Australia and partially public. One of the project’s co-founders is Chau Nguyen, a crypto and blockchain enthusiast living in Australia.

The project is being advised by Allan Nguyen, an experienced Sydney-based financial accountant with business planning and risk management skills.

What Makes NFTBooks Unique?

NFTBooks promises to enable readers to read books at a tiny cost and authors to generate passive income over time.

One of the five parties in the NFTBooks ecosystem is authors, who can become their own publishers through NFTBooks and reduce costs. Their published books cannot be censored, and commissions go directly to the pocket of the authors.

Lessors buy books from authors or other lessors and can profit by leasing out the book rights to owned books or by reselling their books to others. According to NFTBooks, lessors play a vital role in its ecosystem as they help ensure profits for the author and help readers read at increasingly cheaper costs.

Readers/borrowers receive the most value from NFTBooks. As the project grows in size, readers will be able to borrow books at progressively lower prices due to increasing competition among lessors. More readers also result in higher profits for authors as their commissions increase.

**Investors/traders **are supporters that hold the NFTBS token, which they can use to rent or buy books or to publish them. They can increase profits by buying books from authors or earning commissions from transactions in the network.

Translators can make the same profit as authors by delivering quality translations of books. Authors set a commission to decide how much money translators can earn from their work. Naturally, the better a book’s translation, the more appealing it is going to be for the audience and the higher the potential profit.

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Read our deep dive into NFTBooks.

How Many NFTBooks (NFTBS) Coins Are There in Circulation?

NFTBS is the project’s utility token, a rebase token with an automatic transaction tax of 2% on every buy or sell transaction. This tax is redistributed back to existing token holders. The total supply of NFTBS is 100 quadrillion, with over 45,000 holders at the time of writing.

How Is the NFTBooks Network Secured?

NFTBS is a Polygon token on the Polygon . Polygon is secured through the proof-of-stake consensus mechanism. 21 validators are elected every 24 hours to validate transactions and maintain blockchain security. These validators have to stake a certain amount of MATIC coins with Polygon to be eligible.

Where Can You Buy NFTBooks (NFTBS)?

NFTBS is available on Quickswap.