💰Business model: Monetization paths
How we make of Bookverse and scalable and profitable business model while providing the best user experience to readers.
Last updated
How we make of Bookverse and scalable and profitable business model while providing the best user experience to readers.
Last updated
Bookverse aims to be a company that empowers readers & users, reducing friction and intermediates in the actual editorial/book industry while making reader's experience extremely 100% user-friendly: Simple, allow them to use Blockchain technology & it’s benefits without even needing what Bitcoin or a Smart Contract is.
Our revenue model is as simple as our user experience:
— We will charge a 3.5% commission on the sale of each book, while all other income will go to the author.
— We also have the idea of including in the long-term road map publicity using Harberger Taxes. See more on Harberger taxes on Vitalik’s post.
Token?
Another monetization mechanism could be creating a token that will be used as funding. The problem with tokens is that we have the belief that a project should only have a token if they solve a specific problem (See Kleros & PNK) or add value to the holder.
We thought of issuing $BOOK as a core part of our business, but for the moment is not in the short-term roadmap.
Even though, it is worth explaining why $BOOK idea is possible and provides real utility:
In our opinion, $BOOK should portray the performance of Bookverse: It seems inevitable that in the next 10 years, Web3 adoption will grow exponentially. As there are more users in the ecosystem (remember that Bookverse users could be non-crypto people, but we understand that crypto communities are the first steps to have a steady adoption of our platform), more people will know Bookverse because a Network effect, while we will ensure delivering a high-quality product and focus on organic marketing campaigns..
Usecases
Fees accrual:
75% of Bookverse platform will go to the $BOOK holders, while the other 25% will go to Bookverse treasury.
Governance:
The book industry is a market with a lot of competition and many qualities for delivered books. Bookverse token holders will be in charge of deciding which type of books & content will be sold on Bookverse platform. If they make the right decision, Bookverse platform will grow, revenues grow, and $BOOK appreciates. And vice-versa: if token holders take bad decisions, this will have a negative impact on the platform adoption, and on $BOOK price.