Any financially successful person will tell you passive income is the key to financial success. Notably, Warren Buffet said “If you don't find a way to make money while you sleep, you will work until you die.” So, how are people making money while they sleep? Writers, poets, and even other artists are making passive income from their work on In Writing, where they make a 20% commission on all future sales of their work!
Make passive income online on inwriting.io
The NFT space is highly favorable for all visual artists, specifically catering to artists who make digital art collections. The visual art NFT market was essentially a one to one correlation with the real world: artists would sell their art to customers, paying a small commission to the marketplace (gallery), and pocketing the rest of the money.
In Writing is a text NFT marketplace, catering to authors, writers, poets, and other artists. Traditionally, authors make passive income from books and subscriptions sold to customers. This doesn't translate well to NFT marketplaces, as there can only be one owner of each NFT. What In Writing did to fix this problem, however, is implement a 20% royalty on all NFTs sold on the marketplace, which goes directly to the original minter of each NFT. This passive income from royalties on sales will supplement and eventually replace income from physical paper sales and subscriptions.
In Writing's landing page
Writers and artists traditionally only profit from one time sales of their work, and don't see a scent from the second hand market. Having royalties implemented on In Writing allows them to continue to profit off their work, beyond the first initial sale.
It's also worth noting that In Writing has no fees implemented on their platform. Artists and writers get 100% of the profits from their sales, unlike other NFT marketplaces. If you'd like to read more about the benefits of In Writing for authors, check out this article!
Authors, writers, poets, and artists can start earning passive income today on In Writing by creating (minting) an NFT and listing it for sale on inwriting.io. In order for artists to get the royalties, the NFT must be sold on In Writing. This is because the royalty payout is implemented in the smart contract, which means it happens automatically on any purchase, and the royalty payment goes directly to the artist's wallet.
See In Writings roadmap here to look out for more exciting updates!
If you're looking to get started, check out this tutorial on how to mint your first NFT on In Writing!< Back to Blog