Pearson to Leverage Its Profits from Textbook Sales Due to NFTs

NFT technology is booming, opening bountiful prospects for non-blockchain companies, including media giants and publishers. British academic textbook publisher Pearson is not staying behind and is on the alert to join the NFT movement. Currently, Pearson is looking to leverage its profits due to the NFT verification to keep track of digital textbook sales on the secondary market. 

According to the publisher’s CEO Andy Bird, Pearson textbooks are resold up to seven times in their shelf life. By applying the NFT verification to each textbook, the company's CEO hopes to gain a significant number of small revenue sources that would bring a hefty portion of profits combined.

Thus, with the help of NFTs, the company will become more involved in every transaction that the book goes through, capturing revenue during previously uncovered secondary sales from student to student.

Moreover, forward-looking Andy Bird has announced the company’s metaverse-related ambitions, saying: “We have a whole team working on the implications of the metaverse and what that could mean for us”. 

While other educational institutions with the titans like The Tokyo University at the frontline are gradually adopting web3 solutions, Pearson, whose textbooks are mainly used for studies, will definitely benefit from joining the smart cohort of companies.