Founded by a professor for professors, NFT University Press provides a more lucrative way for professors to publish and distribute textbooks. It also provides students/parents with a more affordable alternative to buying and reselling textbooks. It will be a significant disruptor in the educational publishing sector. Academic publishers continue to benefit from professors and students as they have moved from print to digital, sometimes with a subscription model. However, the revenue to professors has been dramatically reduced and typically only on the first sale of a textbook. As a result, the cost to the student continues to increase. This new NFT publishing and distribution model will remove the current academic publisher from the supply chain. It will provide the professor with more revenue with each new textbook minted and/or resold on the blockchain and at a lower cost to the student. It will also save the University the expense and the headache of textbook subscription models that some Universities are paying but then passing along “fees” to the student/parent and ultimately the need for a bookstore space to sell books. So, who’s ready to enroll?
The college textbook market is broken and students and professors are paying the price!
The average college textbook costs $105.37*
The average college student spends $1,226 annually on textbooks*
25% of college students state they work extra hours to pay for their textbooks; 11% said they skipped meals to pay for them*
The publisher makes an average of 78% of every textbook sold**
A professor who authors a textbook earns approximately 11% the first time a book is sold, while the school bookstore makes the remaining profit**
A professor who assigns a textbook, whether they write it or not, is blamed for the high cost, whether they know what it costs or not.
*educationdata.org (7/15/22)
**U.S.PIRG/Education Fund (6/2020)