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Pearson wants to make money every time someone resells its expensive college textbooks, by turning them into digital non-fungible token.
It wants to make as much money off of the used textbook market as possible.
In the analogue world, a Pearson textbook was resold up to seven times, and we would only participate in the first sale.
Bird said that the move to digital helps diminish the secondary market and that technology like NFTs allows us to participate in every sale of that particular item.
The CEO and former Disney executive pointed out how NFT technologies allow initial sellers to track an item, be it a textbook or a Tiffany necklace, on a public ledger, as it changes hands from one owner to another.
Unsurprisingly, Pearson's decision to maximize profits by injecting itself into the used textbook market was met with a lot of mockery on social media.
One user referred to a Techmeme headline as "I hate every word in this sentence," while another urged others to "pirate your textbooks, kids."
There are platforms that help independent writers and presses sell their works as NFTs.
Pearson is one of the largest textbook publishers in the world and the decision could lead to other publishers following suit.
Pearson has not released any more information about its proposed NFT plans or when it will roll out such a feature.
It's a sign of the times when people who already charge an arm and a leg for textbooks want to make money off of used book sales as well.
Pearson says it could make money every time e- books change hands.
There's an interesting theory about why AnthonyHopkins is suddenly making a lot of money.
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