Book.io (Twitter)
Book.io, a startup in NFT eBooks on the blockchain which includes Mark Cuban – the billionaire owner of the NBA’s Dallas Mavericks – as one of its investors, closed a seed funding round with Ingram Content Group (“Ingram”), one of the world’s leading book distributors, that possesses an expansive reach inside the world of book publishing with access to tens of thousands of publishers and millions of titles.
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 USD each. Book.io is in discussion with multiple large publishers and authors and scheduling titles for release this fall.
U.Today reported that Mark Cuban is not only an investor in Book.io but has also provided “invaluable advice” and helped the firm generate connections as well.
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Founded in 2020 by Joshua Stone and Ben Illian, Book.io says it harnesses the power of the blockchain as its backbone. The company boasts it is creating a marketplace and platform that will “forever change digital reading.” For the first time, readers can buy eBooks and Audiobooks and sell their books on a global secondary market. Publishers and authors, equipped with smart contracts, will earn industry-high royalties for first-time sales, and royalties on secondary sales in perpetuity.
“Ingram Content Group is excited to join with Book.io in pioneering new supply-chain models for eBook delivery that take advantage of the security of blockchain technologies, the promise of Web 3.0 and innovative commercialization models based on NFTs,” says Shawn Morin, President and CEO of Ingram Content Group. “Ingram Content Group is dedicated to all facets of the book industry, and Book.io naturally aligns with the global reach of our business and our mission to provide the infrastructure and services necessary to help content reach its destination, from content creators to consumers.”
