Site Aims to Disrupt Book Publishing with Ethereumbr>
Authorship.com aims to disrupt the book industry with an ethereum blockchain. Noting the many problems plaguing the book business – including author compensation, marketing, publisher acquisitions and distribution – Authorship.com seeks to solve the dilemmas by providing guaranteed income to its first 100,000 authors, a bidding marketplace for publishers, and a means of fast distribution. The company is planning on an initial coin offering for its ATS tokens this month, which will be used to compensate the authors and other parties.
CEO Nolan Warfield outlined the company’s plans for Block Tribune.
BLOCK TRIBUNE: Walk me through the process of how an author gets her/his book on the site and active.
NOLAN WARFIELD: Authors who want to make their books available through the platform will need 2 things. First, they will need to upload the book in a PDF format. Our platform will then convert the PDF file into a proprietary file format which ensures a safe distribution to readers. Secondly, we have two situations: the book can be self-published, or the author may be already using a publisher. In the second case, the publisher will need to create an account on our platform as well for us to automatically share sales earnings between the two, based on their royalties sharing agreement. While, our platform encourages self-publishing authors, we also wanted to make sure we accommodate any possible arrangement between two or more third parties who may share the copyrights to the book. Following these two steps, one of our in-house editors will quickly (within 48 hours) inspect the newly uploaded book for things like content quality and copyright before making it active on the platform.
BLOCK TRIBUNE: What is your background?
NOLAN WARFIELD: For the past 3 years I’m the CEO of a book marketing agency (Serious Reading) whose daily role is to market the books of over 2,500 authors using our services. Previously, I owned a book store and run a writers club. I also own a cars repair shop, but I guess that’s not the niche you want to talk about; unless I may interest you in some car repair books? ?
BLOCK TRIBUNE: Explain the monthly payments system. What happens after the first 100,000 authors?
NOLAN WARFIELD: In order to encourage authors to start using our platform, we planned a marketing budget containing 20% of the total number of ATS tokens. We will be distributing monthly, for the first 24 months, 20% of the total ATS tokens to the first 100,000 authors who will join us. After the 100,000 authors number is reached, the tokens will not be offered anymore based on the date an author joined, but based on the number of book sales. The top 100,000 authors will receive a share of the tokens.
BLOCK TRIBUNE: How will the books be vetted by the site?
NOLAN WARFIELD: Initially, one of our in-house editors will have to review the book before it’s being made available through the platform. Later, once the book is made available, readers will be able to rate, review or flag the book. Too many flags, or too many bad reviews can send the book back for our review. This will ensure the platform will not be filled with unwanted books.
BLOCK TRIBUNE: Do you have any prominent authors/publishers lined up for launch?
NOLAN WARFIELD: As we run a book marketing agency, we already have hundreds of authors who are aware of the upcoming platform and eager to be our beta testers. Their feedback helped us immensely. Many of them can be found under the “Interviews” area on SeriousReading.com
BLOCK TRIBUNE: Is your goal to break the Amazon monopoly on the book industry?
NOLAN WARFIELD: Absolutely! Monopoly is what makes most authors impossible to make a living from writing. When all you get at the end of the month is a 6% price share paycheck, you know something is wrong. While we know it’s not going to be an easy task, as long as we’ll be able to offer authors much bigger earnings than they are currently getting, we are extremely confident we will succeed.
BLOCK TRIBUNE: How will people read the books they see on the site (in other words, will they download to a reader like Kindle or their phone)?
NOLAN WARFIELD: We will have reading apps designed for all platforms, to ensure readers can keep on reading books on the devices they are already using. We don’t want to change reader’s habits, we just want to make it easier and cheaper for them to do what they enjoy: read a good book.
BLOCK TRIBUNE: What is your policy on public domain books?
NOLAN WARFIELD: “Oldies But Goldies”, that’s how I always liked to refer to public domain books. We’ll be open to making public domain books available through the platform on a section specifically for them. Those books, however, will not earn anyone any royalties. Maybe, and this is an idea I just came up with, if we manage to somehow monetize these books (we do have a feature where authors can select to offer a book for free and they will still earn some income thanks to related paid books that will be advertised along their book), all the earnings will go to donation towards projects like “Project Gutenburg” so they can digitize even more books.
BLOCK TRIBUNE: What are the details on your ICO? Did the recent SEC rulings affect you?
NOLAN WARFIELD: As you already know, Authorship is all about facilitating and encouraging existing and budding authors, readers, translators and printing facilities, to do what they do best. This platform will be the convenience they need to grow in terms of both wealth and profession/interest/business.
All transactions on this decentralized platform will be made in the form of ATS tokens, the ICO for which will be available soon. We plan to issue a total amount of 100.000.000 ATS tokens, 80% of which will be sold to investors. The token sale will open on 15th August and will be kept open for a maximum of 1 month. We are looking to raise a maximum of $15M.
Regarding the recent SEC rulings, it doesn’t really affect Authorship, since transparency is not an issue for us. Yes, we may need to get an extra license, do some more paperwork, but these issues became the norm a long time ago. We’ll do all that’s in our power to break Amazon’s hold on the industry and make Authorship a revolutionary platform that facilitates and promotes the literary community across the globe.