During an earnings call this morning, Andy Bird, the CEO of learning company Pearson said it’s looking at non-fungible tokens (NFTs) as a way of earning additional revenues on the sale of second-hand books. A Pearson textbook can be re-sold up to seven times.
“Technology like blockchain and the NFTs allows us to pass through every sale of that particular item as it goes through its life,” said Bird. He mentioned the possibility of participating in downstream revenues.
That’s because many creators of art and sports NFTs take a small cut of the re-sale price, often around 5%. While NBA Top Shot sales of NFTs may have surpassed $1 billion, the vast majority of that money went to individual NFT holders in re-sales. But Dapper Labs, the NBA Top Shot rightsholder, made money on initial NFT sales and every re-sale.
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