The Creative Potential Of NFTs For Authors With J. Thorn And Joanna Penn

J. Thorn and I are both authors and passionate about helping writers find new ways to create, collaborate, reach fans, and make more money in the Creator Economy. We're also both excited about the creative and financial possibilities of emerging blockchain technology, including NFTs.

J. Thorn and Joanna (J.F.) Penn in New Orleans, 2017

In this discussion, we cover:

* Explaining NFTs for non-technical people. Some metaphors that might help. * Why are we so excited about NFTs? What are the benefits to authors and other Creators? * Why resale of unique digital assets using smart contracts on a blockchain is such a radically new prospect for authors and the publishing industry — and why it could be so exciting for long-term creators who own and control their intellectual property* What are some of the different kinds of NFTs that authors could use — both for fiction and non-fiction? How might AI-generative art and music play a part in that?* Fractionalization of royalty rights and how this is emerging in the music industry through new platform, Royal, where the co-founder is an independent musician, 3LAU and knows what creators want* How we envisage unique digital originals (NFTs) sitting alongside unique physical products like hand-bound books, or vinyl music, and other ideas for how this could introduce so many opportunities for authors to create more in their worlds* Some of the companies emerging in the NFT for book space and our thoughts on what we want to see before we commit to a platform — since smart contracts can represent a long-term commitment.* Open questions about the financial and tax implications of NFTs that we're still investigating* Our recommendations if you're interested in NFTs for books and blockchain

[Please note: We are not financial or legal professionals, and this is not financial or legal advice. Just a discussion among enthusiastic authors learning along the way!]

This podcast episode is supported by my wonderful Patrons at Patreon.com/thecreativepenn and by tips at BuyMeACoffee.com/thecreativepenn.

You can find more futurist episodes, including more on NFTs and blockchain at www.TheCreativePenn.com/future.

J. Thorn is a best-selling horror and dark fantasy writer, and he also writes non-fiction for authors. He's a podcaster at Writers, Ink, and The Author Success Mastermind, as well as an editor. J and I have co-written several books together, including Risen Gods, Co-Writing A Book, and American Demon Hunters: Sacrifice, the inaugural Authors On A Train event with Zach Bohannon and Lindsay Buroker.

Joanna Penn writes non-fiction for authors and is an award-nominated, New York Times and USA Today bestselling thriller author as J.F.Penn. She’s also an award-winning podcaster, creative entrepreneur, and international professional speaker.

Transcription of discussion

Now, today, we're talking about NFTs, and in particular, what we want to see in a platform for NFT books that will help authors sell more books, make more money, provide value to readers,