How Authors Could Use the Menlo One Marketplace

Let’s imagine a token based marketplace for independent authors and small publishing houses built on Menlo One.

Authors and small publishing houses could leverage our technology to build a marketplace for existing publications, to build a book reviewing mechanism that rewards reviewers. Moreover, it could provide a fundraising mechanism for authors to raise money for future publications and ideas.

While there are platforms such as Kickstarter that provides the ability for an author to crowd source funding for their latest (or first) book, cryptocurrencies have the benefit of microtransactions–instead of needing $5.00 or even a $1.00 contribution, an author could be accepting contributions of less than a cent.

By making use of crowd-sourced and professional opinions relating to, in this case, a book, larger investors could gauge the success likelihood of an author, and small scale supporters could also contribute in one, easy and fair place without any sort of discrimination or minimum contribution.

How an author rewards an investor for their contribution could vary too: the author might offer royalties to be paid to token holders based on the amount of tokens they hold, it may become exchangeable for speciality items such as autographed copies of their book, or simply a discount, or the author may have a stipulation to purchase them back in a time frame at an agreed upon price.

It could also create interesting new ideas of value and wealth, for example if a writer with the abilities of Stephen King launched their first book on this platform, we might see it become a huge success, resulting in the token value increasing. More interestingly, the token price would correlate with the perceived quality of the author adding a new dynamic to consumers who might have no interest in tokens at all, but are interested in the perks and community around the author or publication.

This same model could extend to filmmakers, musicians, inventors, creatives, designers, business people and entrepreneurs.

We believe that the ideas like this will demand a development framework so entrepreneurs, hackers and blockchain visionaries can better build for the blockchain with superior user-experiences, speedy functionality and most importantly, with decentralized applications.

This is why we build Menlo One.

For more information on our project see our website at https://menlo.one, read our Vision BluePaper, and join our Telegram community or follow us on Twitter.