Tech

College textbook maker Pearson looks at NFTs to demand cut in second-hand sales


Advocates often tout the technology’s ability to help creators cut secondhand sales as one of its key attributes. Artists can monetize one of their digital creations years after selling it for the first time. Others are also looking at NFT to monetize the secondary market, including college textbook publishers.

Pearson, that it will focus on selling digital textbooks, want a piece of action. “In the analog world, a Pearson textbook has been resold up to seven times, and we’ll only be in the first sale,” said CEO Andy Bird. this week. “Going digital eases the secondary market, and technology like blockchain and NFT allows us to participate in every sale of that particular item as it goes through its lifecycle.”

There is a clear reason why students resell textbooks. Students often have to spend hundreds of dollars on required materials each semester – or even hundreds of dollars on a textbook. It just makes sense to sell textbooks when they are no longer needed.

Even so, turning textbooks into NFTs and banks on the blockchain to track ownership of them (from “owner A to owner B to owner C,” as Bird put it) seems unlikely. necessary, needs. Digital rights management already exists and there is no need to go anywhere near crypto. Pearson also has a $15 per month subscription service for its textbooks.

Bird may have simply trumpeted a fervent technology to try and keep Pearson’s investors happy – even though NFT sales have decline This year. In any case, there’s still not much he or Pearson can do that he or Pearson can prevent students from taking screenshots of each page of a textbook before selling it.

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