Publica’s secondary market for NFTs is here!
Visit Publica’s secondary book token exchange: https://exchange.publica.com
What is Publica’s secondary BOOK exchange?
Publica’s secondary exchange allows everyone to resell collectibles and buy BOOK tokens from other readers. Every book that has been published in Publica’s online catalog can be re-sold or bought on Publica’s secondary market.
Now users can buy rare collectibles from Publica’s ebook catalog or browse the secondary book exchange and buy books directly from other community members.
What are the benefits of secondary market?
Benefits for readers
There are two major benefits for readers. Firstly, it is now possible to re-sell a collectible item after reading it. Unless you want to keep your purchased BOOK tokens to browse on your e-reader/wallet or keep a BOOK token as a collectible item, you can always go to a secondary market and sell a token to get some funds back.
Another benefit for consumers is that now you can buy tokens directly from other people. Usually, this means that you can expect the get a bargain price or get a chance to buy a rare collectible item.
Benefits for authors
Authors can receive additional revenue every time their released token is re-sold on the Secondary Book Market. Traditionally, authors are only paid once — when the book is sold for the first time. With the introduction of Secondary Book Market, Publica was able to leverage smart contracts and the Blockchain technology to reward authors every time their BOOK token is re-sold.
Video tutorials
Check this video guide to get a better understanding of how to use Publica’s Secondary Book Exchange.
Explaining the process in details
In order to fully understand how Publica’s secondary book exchange works, let’s get back to the basics. Every item that is published on the Publica platform has a unique BOOK token that is associated with a book (each book has its own, unique token name).
After the successful book purchase, reader automatically receives to his/her specified wallet address one BOOK token that is representing ownership rights for one copy of a purchased item. In case several copies were purchased, a user will receive several BOOK tokens.
Now, this BOOK token has one important function — once a BOOK token is on your wallet, you can access a literary work using Publica’s e-readers app — in other words, you can read a purchased book.
It is also possible to send a token to another person. All you need to do is to specify the wallet address to which you would like to send a book, and send a BOOK token just like any other token. After this action initial owner of the book will no longer have a BOOK token on his/her wallet, hence the book will disappear from the list and will appear in the new owner’s e-reader. Imagine you are landing a book from a friend, the principle here is the same.
With the introduction of the Secondary Book Token Exchange you are now able to sell any BOOK token, as well as buy any listed item from other readers.
As Secondary Market Exchange is in fact a dedicated exchange service for trading Publica’s collectible tokens. You will first need to connect with a Metamask account, deposit purchased BOOK tokens to the exchange (please mind the associated transaction fees) and set the desired price in PBL. When someone will purchase your BOOK tokens on the Secondary Book Token exchange, the author’s commission, as well as Publica’s fee will be automatically deducted and you will receive PBL tokens that can be later exchanged to other cryptocurrencies or used for purchasing other items on Publica.
What’s next?
Feel free to give our Secondary Book Exchange a try!
While there are still many things to improve, we want to let you get some hands-on experience with the functionality! Let us know in case you have any questions or issues — we’re here to help!
Useful articles and tutorials:
Other useful materials and tutorials can be found here.
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