B

Bookverse

Bookverse empowers book authors by providing community of digital readers a marketplace for NFT books (Think of Bookverse as NFT marketplace for Books where users can Mint, Sell and Buy NFT Books)

B

Bookverse

Bookverse empowers book authors by providing community of digital readers a marketplace for NFT books (Think of Bookverse as NFT marketplace for Books where users can Mint, Sell and Buy NFT Books)

The problem Bookverse solves

When we buy an ebook on any online platform for example on Amazon, or any other similar service our ownership over that commodity is very different from a physical book that we can keep with ourselves as long as we want. Yes, we bought an ebook on these online services, but we only and only have it for as long as Amazon or that other service is around and agrees to keep providing it as a service. If Amazon or that other service crumbled tomorrow or discontinues its services due to any reason, that book would disappear with the rest of its platform but we had purchased it Right?! We have the ownership, here comes the breach if we put it in very simple sentences we don't have any moral or physical contract with amazon to provide its services and even if amazon wants to continue providing its services and our government bans Amazon from their end then who should we address? . From this horizon, Non-fungible tokens (NFTs) have many more things in common with print books — it’s our possession, ownership, period. It won’t disappear at the whims of an outside party or government or organization. In fact, with NFTs, we don’t just own a copy of a book, we own a specific copy within a series of copies. Think first edition, second edition, and so forth of the book for which NFTs have been created. Also, the final cut after the sell from a ebook from other platform such as amazon or other similar platform that reaches Book Author is not much as compared to their efforts, Hence we need some OUT OF THE BOX solution for this problem and hence something such as Bookverse will be great idea to introduce in this space.

Challenges I ran into

Building Something from Scratch will always include complicated bussiness logics and a complete thought process for system design, while building bookverse I have used ERC-721 token contract for the very first version of my Minimum Viable Product but the thing about ERC-721 is it is a standard for representing ownership of non-fungible tokens, that is, where each token is unique, we need unique NFT for books but books will not be singular (sometimes they can be) instead we will have a batch of each books what we call them as copies of books, hence later we switched to ERC-1155 to create a scarcity-driven economic model where authors can mint a limited number of copies of there books and earn by selling these copies to readers.

Discussion