One of the key benefits of NFT, according to its proponents, is that it allows the author to receive a portion of resale profits.
Years after the initial sale of one of their digital works, artists might still profit from it. Publishers of college textbooks are among those who are considering NFTs as a means of generating income from the secondary market.
Pearson wants a piece of the action after declaring in 2019 that it will concentrate on selling digital textbooks. According to CEO Andy Bird, “in the analog world, a Pearson textbook was resold up to seven times, and we would only participate in the initial transaction.
There is a clear reason why college students sell their textbooks. They are pricey. Each semester, needed resources might cost students hundreds of dollars, or even hundreds of dollars for a single textbook. When a textbook is no longer required, selling it on just makes sense.
However, it doesn’t seem necessary to convert textbooks into NFTs and rely on the blockchain to monitor ownership (from “owner A to owner B to owner C,” as Bird put it). There is already a digital rights management system in place, therefore cryptocurrency is not required. For its textbooks, Pearson also offers a $15 per month subscription service.
Bird might just be blathering about a trendy technology to appease Pearson’s investors, despite the fact that NFT sales have been dismal this year. Whatever the case, he or Pearson still couldn’t do much to prevent students from screenshotting every page of a textbook before selling it.
In the United Kingdom, various European nations, the United States, Canada, Asia Pacific, and internationally, Pearson works as a media and education firm.
North American Education, International Education, Professional, and FT Group segments make up the business. It offers a variety of goods and services to its clients, including curriculum books and other learning tools, student assessments and testing services, and educational technologies for teachers and pupils in early childhood through elementary, middle, and high school, as well as in higher education. Additionally, it provides testing, evaluation, and qualification services in addition to publishing educational materials in regional tongues, adult and child English language learning resources, and online learning products.
Additionally, Pearson Education publishes books on computers, information technology, and business; offers electronic testing for regulatory and certification boards; and engages in publishing, training, testing, and certification for professionals. These services range from test development to test delivery and data management. Additionally, it provides businesses and financial institutions with a variety of data, analysis, and services through a variety of print, digital, and mobile media.