Anyone who owns the NFTBooks token, can become a Lessor. It is very simple to become a Lessor, just own a book on the NFTBooks platform, either by purchasing during the author's sale or by transferring from another book owner.
When you lend books to those in need - Reader, you are the Lessor. Understandably, the Lessor identifies also an Investor in the NFTBooks system, but instead of just owning the NFTBooks token, Lessors use the token more intelligently by buying a book and getting long-term value from the rental. Sounds quite similar to staking in other projects but you have an immediate profit. If you don't want to rent it anymore, you can transfer the book to someone else. So, Lessors are Level 2 Investor.
It can be seen that Lessor's cash flow used in the system is the most of all NFTBooks objects, Lessors are the backbone of the whole NFTBooks.
Without Lessors, NFTBooks would not be different from normal NFT (projects), and just like a book platform like Google Play or Kindle, the only difference is that the Author can fully benefit, but the reader cannot read books at the cheapest price. This is contrary to the criteria set forth by NFTBooks, both for the benefit of Authors and Readers.Lessors own and lend the books. Do you think Lessor is similar to a library? Exactly, each Lessor is a personal library. When many individual libraries appear in a market, it means they are competing for the same customer market. Lessors will have to choose between keeping the price the same and forfeiting the loan to another Lessor or accepting a discount in order to complete that day's rental.
This event will result in the price of a private library becoming similar to a Public Library, although it is not free, its fee will be at least approximately free.
This is a purpose-built competition by us (early-stage NFTBooks developers).
This competition will help grow our NFTBOOKS platform by value depth while Author must be serious about competing on content quality, Lessor will also have to compete on price. Both of these are beneficial for Reader, aren't they?
Question 1
If Lessor owns 10,000 different books, will it take time to manually adjust loan costs?
Answer
Similar to Authors, we also build index analysis tools for Lessor to be able to compete fairly and react quickly to the market. In addition, our bookshelf adjustment is both manual and automatic, which automatically depends on the current rental value to be in the best interest of the Lessor. This is similar to Liquidity's Pool of DEX. If you don't like it, you can completely set it manually.Question 2
What if Authors release the same book for the second time, third time etc?
Answer
This could be a commitment between Author and Lessor, since Author already receives a passive income from the books sold, there is no reason for them to publish a book again. If the Author does so, it will lead to people who become Lessors for profit losing trust and their prestige and priority towards buying books when they are on sale will be greatly reduced. So, we call this implicit commitment.
Back to Public Library, let's compare Public Library & Lessors
* Public Library is free, but Public Library funding comes from local or national budgets. This is the tax of everyone in the area that is deducted from the government budget. Because it's free, there will always be a need for maintenance money to flow into the Public Library, which is bad for the government budget.
Charitable funds can also do business to make a profit and then give charity, so why can't Public Library make a profit? Or is it too cumbersome to be profitable? As for Lessor, they buy a book with their own money, and they get the NFTBooks token back; The value of the NFTBooks token will increase as its scarcity appears by its holders, as well as the increase in the number of Readers that will make the need to buy NFTBooks token for use increase every day and every hour.
And Lessor can transfer books to others if there is no need to rent them anymore. Because Books in NFTBooks are not only valuable in terms of rental but also in terms of collectibles and rarity. People buy paper books also for the purpose of archiving and honouring its value.
To buy the electronic copyright of a book, the Public Library will have to pay a lot of money to the publisher for only one reader at a time, and for physical books, the Public Library has to borrow all of a book. is also entirely possible. With NFTBooks, we value sharing, instead of you just buying and reading it once, share them so more people can read them at a cheaper price. This is exactly why Lessor was born. Lessor owns all of Author's single-book supply, so the supply of books will be abundant enough to solve the problem of book scarcity. Although there will be a part of users who buy books to read and store and not just for investment purposes, we believe that the majority of book owners will accept the story of becoming a Lessor, as it has no harm to them, but will bring value to both them and the Author.
We believe that NFTBooks has a lot of potential to help the Lessors who keep the flow of NFTBooks profitable beyond what we've just skimmed above.
