Nerd For Tech
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Nerd For Tech

NFTs or Currency for Writers and readers

image from the courtesy of cryptoast.fr

I write and you read then a currency could be designed on top of this transaction because we just could create a currency for every specific transaction between parts. But it doesn't mean that we should build it because we can it . For it to be worth building, it should bring value to each and every party involved in the transaction. It is possible to build a real currency that could allow readers and writers to benefit from this transactional relation they have through the medium of words. Just writing could let you earn this currency as well as just reading. The currency I am thinking about could also be designed to increase our willingness to read as well as our willingness to write maybe through incentives but there are for sure flaws around incentives-driven behaviors. All of these are tech-enabled ideas that highlight the possibilities we have with cryptocurrency and blockchain but it is not about gambling nor investing but should be about impactful contribution to the world. We are going to NFTs after experiencing cryptocurrency like bitcoin but will also NFTs be only about profits and high volatilities like bitcoin. The NFTs projects that I have learned a bit about look to be less volatile than the crypto I know. These NFTs are for sure not for winning millions in a short period of time but rather about long-term returns with a very low probability to get these returns.

I have been thinking about that because I am thinking about how NTF could help writers and readers like me get paid more because they are doing something that matters for the success of the world and for the entities they care about. This short reflection period highlighted to me an interesting tech-enabled idea about NFT and publishing to try out soon. That’s working in this research about aircraft incidents and accidents that I have explained in this article that I got this idea because while I was working on it I had still in mind this tech-enabled crowdfunding platform about the airline industry which was the topic of this article.

You could see from the paragraph above how our mind is like a blockchain. Maybe there will be some genius people who will succeed at attaching a currency to this blockchain that constitutes our mind.

I have written several times that words are cheap and exactly in 5 articles published in medium but it was for illustrating how less we could spend writing then normally it could not be difficult getting revenues from words because all we need is to find one who would spend a dime more buying them. then why writers are being poorer? is it because there are fewer and fewer readers or is it because it is difficult to sell words to others. This NFT about publishing that I writing about should answer this question which is a difficult question for me. Is the number of readers declining? if I take the example of book reading I am tempted to say that there are fewer and fewer people interested in buying and reading book bu here are some statistical facts of the book market which is a billion-dollar market

chart from this statists’s article
Chart from Pew Research
published book titles per 1 million inhabitants from 1500 to 2009- ourworlddata

I hope that you see that what I am describing here is more than NFTs but a currency that could be built on top of blockchain or not and that grow as we increase our level of engagement in reading and/or writing online. Of course NFT can be seen as a first step to this kind of currency and NFTs are being experiemented for writers and there are some articles outhere for knowing more about pros and cons about NFTs for writers here and here.

Like how I titled this article

I was able to title this article Book as Currency and I hope also that you could notice that this currency that I am describing here is very close to this idea below

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NFT is an Educational Media House. Our mission is to bring the invaluable knowledge and experiences of experts from all over the world to the novice. To know more about us, visit https://www.nerdfortech.org/.

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Diop Makhtar

Diop Makhtar

​Papa makhtar Diop is before anything a geek or a nerd or both if you want. Geek and nerd are now overused but they used to name a knowledge driven person.

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