# The Future of Self-publishing By [Arthur Mwai](https://paragraph.com/@arthur-mwai) · 2022-08-09 --- My dear reader,i had written this report for a [trends vc](https://join.trends.vc/) analyst role but got caught up with stuff and missed the submission deadline. I intend to write more as i learn about web3 using different formats. Enjoy the read ### Self-publishing ### 💎Why It matters * Self-published authors earn up to **2x more per eBook sold** than their counterparts in the traditional publishing industry.  * Web3 [enables](https://twitter.com/cdixon/status/1442201621266534402) a **_permissionless_**,**censorship-proof** and more **profitable** self-publishing industry. ### 🔍Problem Writers suffer from [**low incomes**](https://www.npr.org/2015/09/19/441459103/when-it-comes-to-book-sales-what-counts-as-success-might-surprise-you)  due to  \*\*[rent-seeking behavior](https://www.econlib.org/library/Enc/RentSeeking.html) \*\*in the industry: * Up to [50% of hard copy book sale value](https://www.authorlearningcenter.com/publishing/distribution-sales/w/booksellers/3059/book-sales-how-does-discounting-work---article) is captured by **distributors** and **retailers**. * **Publishing agents** **skim off** up to [15% of the book advance value](https://goodereader.com/blog/indie-author-news/first-time-authors-normally-get-a-10000-advance-from-a-major-publishing-company#:~:text=The%20average%20author%20does%20not,%2C%20on%20average%2C%20per%20book) from writers. * Self-published authors have to [incur upfront costs](https://blog.reedsy.com/guide/cost-to-self-publish-a-book/) for editing, formatting and book cover art to ensure quality. * **Supply chain inefficiencies** limit ability to **pre-sell** a work in progress. This increases the **risk of book launch failure** due to lack of a pre-tested **product-market-fit**,especially for new authors. ### 💡Solution [Web3](https://ethereum.org/en/web3/) self-publishing marketplaces. ### 🏁 Players Web3 self-publishing players: * [Readl](https://readl.co/?doing_wp_cron=1658653597.7887420654296875000000) - marketplace bringing the publishing industry to web3 * [Mirror](https://mirror.xyz/) \- blogging and literary NFTs marketplace * [Adimverse](https://adimverse.com/) - collaboratively create NFT characters for stories * [Paragraph](https://paragraph.xyz/) - web3 version of substack  * [AlexandriaLabs](https://alexandrialabs.xyz/) - metaverse book library  * [PubDao](https://pubdao.co/) - crypto writers collective  * [BookCoin](https://www.bookcoin.com/) - tokenizes hardcopy books through book NFTs * [Soltype](https://www.soltype.io/) - literary NFTs platform * [Headline](https://viaheadline.xyz/) - decentralised publishing platform ### 🔮Predictions [Publishing DAOs](https://mirror.xyz/pagedao.eth/MVqpKeK3Q5HBuIuVhXA9c9R5jiC70aovFTfqwrb1O7I) will disrupt legacy and centralized eBook platforms by: * Creating **tokenized marketplaces** that guarantee **quality and trust**. [VitaDao](https://www.vitadao.com/) provides a [marketplace](https://molecule.to/) for longevity research using [IP-NFTs](https://thetokenizer.io/2021/08/19/the-first-ever-biopharma-ip-to-nft-transfer-for-longevity-research/). [Ospcienta DAO](https://opsci.io/about/) is creating an open science marketplace. [ResearchDao](https://researchdao.io/) provides funding for blockchain science. * Removing **upfront publishing costs** through **tokenized marketplaces** where professional editing,formatting and art work can be paid via token allocation. This creates a community that will work towards increasing the value of the project. * Tokenizing **niche communities** based on genre. [SpiceDAO](https://spicedao.xyz/), a collective of [Dune novels](https://dunenovels.com/) true fans [bought the _Dune Bible_](https://www.theverge.com/2022/5/27/23141188/dune-crypto-collective-spice-dao-nft-tv-series-charlotte-fang-remilia-controversy) for $ 3 million. [Cosmia](https://cosmia.org/en/home-2/) is feminist publishing DAO and focused on the link between art and therapy * Enabling writers to **earn more** through [**tokenization**](https://www.bookcoin.com/subtle-art) of existing **hard copy books**, secondary sales [](https://excerpts.ofgridlock.com/)from NFTs and diversified income from [**token-gated experiences**](https://www.one37pm.com/nft/what-is-token-gating#:~:text=Essentially%2C%20token%20gating%20allows%20projects,'holders%20only'%20Discord%20channels.). [Etherpoems](https://opensea.io/collection/etherpoems) secondary sales royalties are _trustlessly_ shared by the contributors. [Excerpts of Gridlock](https://excerpts.ofgridlock.com/) is a collection of NFTs based on the book [Hope Runners of Gridlock](https://blog.simondlr.com/posts/hope-runners-of-gridlock). [Stoner cats](https://www.stonercats.com/) NFTs give token-gated access for holders to vote on story elements for upcoming show episodes Independent writers will **increasingly** choose to **tokenize** their work in order to: * **Earn-as-they-they-work** by leveraging **flexible** **monetization models**. Mint and earn from a [poem](https://cryptopoetry.io/collections/), [short story](https://www.untld.xyz/) or [blog post](https://dev.mirror.xyz/5gt60vKFJZ_tR1BjoJ7-Y0sNw7REebStHjzFU5x73J0) NFT instead of waiting to publish an anthology.  * **De-risk** book launches by **pre-selling** their work as a serial,for example chapter by chapter. * **Create more** **value and depth** for fans and collectors by experimenting with different formats. [theVERSEverse](https://theverseverse.com/) makes poetry more accessible through visual art.Sasha Stiles [adapted](https://superrare.com/0xc47048715d9513d9336e38c7435fcf0beea4fd93/completion:-are-you-ready-for-the-future-1) her [work](https://www.sashastiles.com/technelegy) as an NFT. [Cellarius](https://twitter.com/cellarius2084) uses a [fan fiction](https://www.newyorker.com/books/page-turner/the-promise-and-potential-of-fan-fiction) format to enable fans  in co-creating  a science fiction universe.Designed * Create or plug into [**tokenized communities**](https://forefront.mirror.xyz/LCPVlxuOHJ2yCHvL5hJ9ErCwjwvJ2-Fk1lnOyHviIPc) of fans who will work towards **increasing the value** of the art as token/NFT owners. Artificial Intelligence  will disrupt self-publishing services by: * Enabling **trans-human collaborations** in literature. [Proof of Story](https://proofofstory.io/) enables A.I-assisted creation of stories and characters while [Sasha Stiles](https://www.sashastiles.com/technelegy) collaborated with an [A.I poet alter ego](https://www.instagram.com/technelegy/) to create [_Technelegy_](https://www.amazon.com/TECHNELEGY-SASHA-STILES/dp/1913606732)_._  * Reducing [**editorial costs**](https://openai.com/api/) and **increasing** [content creation](https://www.sudowrite.com/) speed.  * Enabling **A.I assisted writing tools that match a writer's style** to enable faster sentence and paragraph completion similar to A.I-assisted [code completion](https://www.tabnine.com/) tools. * Reducing the **cost of collaboration** between writers and artists using programs like [DALL-E 2](https://openai.com/dall-e-2/). * ### ☁️ Opportunities * Publishing DAOs will create a **marketplace for services**.[Media DAOs](https://dev.mirror.xyz/WPnZICvS2XbHJQ3u-GrsvYqios3XWmZhQvTKEyUJOGE) on Mirror enables tokenized collaboration on publications.[The Platform](https://www.theplatform.studio/) DAO is an aspiring marketplace that bundles context for the art in order to add depth. [Cosmia DAO](https://cosmia.org/en/home-2/) is a marketplace for female writers. * Publishing DAOs will act as **talent curation** platforms for legacy publishers through **whitelisted** writers.  * [Soulbound](https://vitalik.eth.limo/general/2022/01/26/soulbound.html) literary NFTs will serve as **digital proof-of-erudition** for social signalling similar to our hard copy bookshelves while NFTs for serial books will be used to signal alignment to a **digital tribe**. * Scientific writing as a global [**public good**](https://www.vox.com/2016/7/14/12016710/science-challeges-research-funding-peer-review-process#1) can be funded [**faster**](https://fastgrants.org/) and more [**transparently**](https://desci.com/) through the blockchain thus increasing [trust](https://pubmed.ncbi.nlm.nih.gov/35311630/) and  [innovation](https://www.nber.org/papers/w22180). [Emergent Ventures](https://www.mercatus.org/emergent-ventures) was designed for speed and efficiency for scientific grants during the covid-19 emergency while [DeSci labs](https://desci.com/) and [SciNet](https://www.scinet.one/) are experimenting on decentralized scientific writing. * **Tokenized true fans** will fund **quality over quantity** and give niche writers a market. Emily Sagan [fundraised $ 38,500](https://emily.mirror.xyz/0AFENlMKv9amUC1OJIZY26udpISw_raXkoEcvelPvzg) in ETH for her next book from 104 investors in a day on [Mirror](https://mirror.xyz/). Elle Griffin fundraised for her book starting with a prologue and first chapter which were [purchased as NFTs](https://elle.mirror.xyz/crowdfunds/0x8E48600e157D0Eace8438c9866470B05123D727b) at [$2,000](https://ellegriffin.substack.com/p/crypto-funded-nft-novel?s=r) in ETH. [theVERSEverse](https://theverseverse.com/) and [CryptoPoetry](https://cryptopoetry.io/) are niche literary NFT marketplaces enabling poets to _earn per poem._ * **Tokenization of hard copy books** as NFTs on the _permaweb_ **will create more value for writers** through secondary sales. [_The Subtle Art of Not Giving a F\*ck_](https://www.bookcoin.com/subtle-art) has been minted on [BookCoin](https://www.bookcoin.com/) * **Rare literary NFT DAOs** will enable [fractional ownership](https://fractional.art/) of super-rare items and provide **token-gated access** to users. [FlamingoDao](https://docs.flamingodao.xyz/) is focused on rare and high-value collectibles  beyond JPEGS. [ConstitutionDao](https://www.constitutiondao.com/) tried to acquire one of the 13 surviving  original copies of the U.S constitution, the DAO failed but its [$PEOPLE](https://coinmarketcap.com/currencies/constitutiondao/) token became a collectible. ### 🏔️ Risks * **Mass adoption** of web3 utility **beyond financial applications** might take time, delaying the promise of decentralized self-publishing * Tokenization creates potential for [**crypto scams**](https://cointelegraph.com/explained/crypto-rug-pulls-what-is-a-rug-pull-in-crypto-and-6-ways-to-spot-it) as seen in the [early ICOs](https://cointelegraph.com/news/did-you-fall-for-it-13-ico-scams-that-fooled-thousands) and [recent NFT](https://www.banklesstimes.com/cryptocurrency/top-nft-rug-pulls/) projects. ### 🔥Hot Takes * **Independent thought** will flourish through a **tokenized patronage** model where [true fans](https://www.youtube.com/watch?v=PXgSQKzcn6Y) fund writers. * The [**Decentralized Science (DeSci)**](https://future.com/what-is-decentralized-science-aka-desci/) **movement** that’s pushing for funding and publishing of scientific research on web3 will create **unique and trustworthy** [global public goods](https://www.ncbi.nlm.nih.gov/books/NBK221876/#:~:text=Scientific%20knowledge%20in%20its%20pure,basic%20component%20of%20our%20economy.) that will make our lives better. * [Journalism DAOs](https://pubdao.co/) will **compete with traditional news outlets** [online](https://decrypt.co/74643/inside-the-dao-of-decrypt) and offline. * [Publishing DAOs](https://wippublishing.com/) will provide **professional services** for authors through **tokenized** [**marketplaces**](https://nftbookbazaar.com/)**.** * Immersive literary NFTs will offer unique ways of interacting with literature 🔗 Links -------- [What if We Could Fund Artists the Way We Fund Startups?](https://elle.mirror.xyz/GckMsrLAAITuE1dJhkG59NZumkqbysnzmFFmKrXmYDE)  Reflections on how a patronage-funded self-publishing industry could lead a literary renaissance . [NFTs and The Rebirth of the Reader](https://www.rightclicksave.com/article/nfts-and-the-rebirth-of-the-reader) - a deep dive into literary NFTs and new opportunities for writers in web3. \*\* \*\* --- *Originally published on [Arthur Mwai](https://paragraph.com/@arthur-mwai/the-future-of-self-publishing)*