Book.io is a startup that specializes in NFT eBooks on the blockchain. The company was founded in 2020 by Joshua Stone and Ben Illian and aims to create a marketplace and platform that will “forever change digital reading.” By harnessing the power of blockchain technology, Book.io allows readers to buy eBooks and audiobooks and sell their books on a global secondary market. Publishers and authors equipped with smart contracts earn industry-high royalties for first-time sales and royalties on secondary sales in perpetuity.
Mark Cuban: Investor and Advisor to Book.io
Book.io recently closed a seed funding round with Ingram Content Group, one of the world’s leading book distributors, which possesses an expansive reach inside the world of book publishing with access to tens of thousands of publishers and millions of titles. One of Book.io’s investors is Mark Cuban, the billionaire owner of the NBA’s Dallas Mavericks. Cuban not only invested money in Book.io but also provided invaluable advice and helped the firm generate connections as well.
Mark Cuban’s Previous Support for NFT Books
Mark Cuban has previously been bullish on NFT books, particularly for textbooks, as he stated in an interview with Forbes in the fall of 2022, “The whole process of buying books…it’s just a pain in the ass and in a digital world, it’s ridiculous.” He believes that NFTs as books can simplify the process of buying, selling, and using textbooks, but acknowledges the challenge of convincing college textbook publishers to adopt this technology.
Book.io’s Growth and Achievements
Within 60 days of launching the blockchain utility platform and eReader dApp, Book.io generated over $250,000 in net sales revenue, and continues to generate daily royalties from secondary market sales — with individual collectible eBooks selling for over $4,000 each. Book.io is in discussion with multiple large publishers and authors and scheduling titles for release this fall.
Book.io’s Multichain Strategy
Book.io is committed to perpetually making books and media in different forms live on-chain. Most of the books are minted as non-fungible tokens (NFTs) on Cardano, with Polygon and Ethereum mints starting in the last few months. Book.io’s multichain strategy enables the platform to reach a wider audience and provide more options for publishers, authors, and readers alike.
Book.io is a promising startup that aims to disrupt the digital reading industry by leveraging blockchain technology and NFTs. With the support of investors like Mark Cuban and the Ingram Content Group, Book.io has achieved significant growth and is well-positioned for future success. Its multichain strategy also sets it apart from other startups in the space, and it will be interesting to see how Book.io continues to innovate and grow in the years ahead.
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