NFTs for Authors: Is This a Rush for Fool’s Gold? – by P. S. Hoffman…

Chris The Story Reading Ape's Blog

on Jane Friedman site:

Lately, influencers are parading Non-Fungible Tokens, or NFTs, as the shiny new key that will unlock the future of the internet. In publishing, respected entrepreneurs, like Joanna Penn, are wondering if NFTs could become a serious source of income for authors.

And I think by now we’ve all heard of the dazzling displays of wealth behind the earliest NFT artwork and book deals.

But in my opinion, the promise of NFT books is riddled with warning signs. The outlandish hype, the allure of quick riches, and the shining exterior of “new, disruptive technology” paints a picture I’ve seen before.

Here’s why all this chatter about NFTs in publishing will probably amount to nothing more than a rush for fool’s gold.

Continue reading HERE

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