SNEAK PEEK
- Venture capital firm BDMI, the subsidiary of Bertelsmann, has invested in the leader in NFT ebooks, Book.io.
- Readers will now be able to own their digital books and sell them if they are willing to do so.
- The investment is termed less of a capital injection and more of a partnership with the venture capital firm.
In a recent announcement, it was revealed that the venture capital firm BDMI, the completely-owned subsidiary of the services, media, and education company, Bertelsmann, has secured investment in Book.io, the leader in the NFT ebooks.
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As revealed, Book.io is facilitating the creation of a new platform dedicated to digital ownership in book publishing by taking ebooks and audiobooks to the blockchain via their proprietary technology. This proprietary technology is Decentralized Encrypted Assets (DEAs).
With the incorporation of the DEA, readers can now own their digital books and sell them if they want to. This facilitates the establishment of a secondary market where publishers and authors can earn royalties on every resale in perpetuity.
Joshua Stone, the CEO of Book.io, released a statement regarding the same that said the investment is more than just a capital injection. He revealed that it is a partnership with BDMI, a venture capital group that possesses a clear understanding of the value of an intellectual property and has been investing in media for over 15 years.
In addition to this, the CEO revealed that theta re having a huge vision for Book.io as their product roadmap settles far beyond ebooks to involve audiobooks along with other types of digital media in the future.
To this, a Partner at BDMI, Keith Titan, said that they are very excited to become a part of the Book.io team through their recent investment. Also, they have been closely following the surge of NFTs in several media, including music, images, and videos. Keith revealed that Josh and Ben are delivering on their aim to launch a range of innovative products that will attract both traditional book purchasers and a whole new group of ebook collectors.
This goes without saying that Book.io is working dedicatedly to build a marketplace for ebooks and audiobooks, a self-service portal for authors and publishers, and mobile reading apps.
