In yet another first for the NFT industry, NiftyLit, a new San Francisco-based book publishing company, has published the first-ever Literary NFT. As the name suggests, a Literary NFT is a unique digital asset that links to a piece of literature. So let’s dive in: What is NiftyLit and what is literary NFT all about?
What is NiftyLit?
NiftyLit is a new literary magazine that publishes literary works exclusively as unlockable content linked to NFTs. More importantly, the NFT book publishing company promises to give its writers the majority of the revenue from NFT sales. Furthermore, the company’s aim is to establish a more “equitable system for publishing, community engagement, and compensation for writers and artists.”
According to its website, NiftyLit is a “group of literary enthusiasts who believe in the power of technology to put creative control back in the hands of artists.”