There are too many to list here! Below are a few…
NiftyLit believes one of the key benefits of publishing your work as NFTs is that your work can be paired with a “real-world” value that matches your work’s literary value in the marketplace. NiftyLit will follow market trends to set prices and volume for your work initially, but once your work has been purchased in the NFT marketplace, you could theoretically earn royalties in perpetuity for your work as it continually gets bought, sold, and enjoyed by your readers, fans, and collectors.
Find your fans: NiftyLit’s model for getting artists and writers paid for their work is loosely inspired by the “100 True Fans” theory (or “1000 True Fans” theory, depending on who you ask…), although we believe some of our writers could have millions of fans someday, given the quality of submissions we’ve received so far.
Another key benefit has to do with IP protection. As mentioned above, purchasing an NFT does not imply anything about legal ownership of metadata associated with the NFT (like a gif, jpeg or a piece of writing/ literature).
Literary NFTs also enable writers to engage with their readers on a whole new level, be it by obtaining data on what your written pieces are worth monetarily to your fans, or for fans to collect entire bodies of work that you publish as NFTs. In the future, NiftyLit will work with contributing authors to put together community incentives (e.g., collect all of author X’s work and receive a signed copy of their upcoming full length novel). The possibilities are (literarily speaking) endless!
NFTs will truly revolutionize the way creators engage with their audiences.