Inkshares Combines Crowdfunded Publishing with Bitcoin
Inkshares is quite a unique platform when it comes to dealing with Bitcoin payments, as they primarily focus on content creation in written format. Anyone who aspires of writing a book may want to look into this platform, as they accept Bitcoin payments for books as well. Also read: Bitcoin’s Next Adoption Phase Imminent as […]
Inkshares is quite a unique platform when it comes to dealing with Bitcoin payments, as they primarily focus on content creation in written format. Anyone who aspires of writing a book may want to look into this platform, as they accept Bitcoin payments for books as well.
Inkshares: A Platform for Content Creators
Writing a book sounds easy in theory, but it will quickly become apparent the job is a lot harder than first anticipated. But the writing is not even the hardest part, as writers need a team of editors to go through everything with a fine-tooth comb. Additionally, a publisher or publishing platform has to be found, which can end up being quite costly in the long run.
Inkshares (Inkshares.com) acknowledges all of these potential hurdles standing in the way of aspiring writers fulfilling their dream, and came up with a solution. Think of this platform as a collaborative solution, where people can start writing their book – while still retaining full rights to them – and share drafts with the audience.
Any aspiring writer can sketch out their book idea, and turn their idea into a draft. Uploading a sample chapter to Inkshares is enough to build a draft page on the platform, and get feedback from the community. Sharing early versions of the finalized work will help content creators in building their audience, as direct interaction with readers is invaluable.
Not everyone will take a liking to some of the early drafts, which is only normal. It would be rather disconcerting if everyone liked the same style of writing. But constructive feedback will help writers hone their skills, or come to the realization writing a book simply isn’t their cup of tea. That latter option is perfectly understandable, and since no money has been invested, there are no financial repercussions to doing so.
For those writers who do pursue their dream of writing a book, the end-goal is to sell enough pre-orders. The end user is in full control of this campaign on Inkshares, and at last 250 pre-orders need to be reached before the company will take care of the rest of the process. This includes editing the book, publishing it – in ebook or physical format – and taking care of revenue splitting. Writers will earn 50% of gross revenue for printed books and 70% for ebooks.
This is where things get really interesting with Inkshares, as they accept various payment methods for the book pre-ordering process. Credit cards are accepted, of course since they are the most common payment method in the world. But there’s also an option to pre-order books with Bitcoin, which count towards reaching the minimum 250 books threshold.
However, since Bitcoin payments cannot be refunded in the same way credit card charges can, Inkshares will notify Bitcoin backers as soon as the book of their choice reaches its pre-order goal. Once that milestone has been reached, a separate email will be sent out to users can complete their Bitcoin payment.
What are your thoughts on the Inkshares platform? Will you give them a try to write or buy a book in the future? Let us know in the comments below!
Images courtesy of Inkshares, Shutterstock