Posted on 08/02/2022 at 12:01 PM by Sadye Scott-Hainchek

Ah, remember the days of hunting for secondhand textbooks, to save money?

Publishers don't think so fondly of those times, though — they only make money on the first sale, after all.
So textbook publisher Pearson has decided to try getting in on that resale action.

CEO Andy Bird announced yesterday that the company will try using nonfungible tokens (NFTs) and blockchain technology, Bloomberg reports.

Collins Dictionary, which chose NFT as its word of the year in 2021, defines it as “a unique digital certificate, registered in a blockchain, that is used to record ownership of an asset such as an artwork or a collectible,” with emphasis on “unique.”

Bird also said Pearson is exploring what the metaverse could mean for it.

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Categories: Today in Books

Tagged As: Nonfiction, Publishing

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