Cruikshank & Wallace Publishing Launches World’s First NFT-Funded Children’s Book to Create New Monetization Paths in a Web3 World While Giving Back to Literacy Programs
By immediately monetizing their content, this project shows children’s book creators that they can finance direct-to-consumer printing and distribution without relying on traditional publishing
HAMDEN, Conn., 27 October 2022 /PRNewswire/ — Cruikshank and Wallace, an independent publisher, today announced the first ever NFT project that will fund a new children’s book to empower creators while making new stories more accessible to young readers. By using NFTs to finance printing and distribution, creators of children’s books can break free from their dependence on 1-to-1 sales or royalties from traditional publishers. This gives children’s book creators an alternative means of income while also being able to expand their reach. Most importantly, this new publishing model for using NFT funds allows creators and holders to support literacy through donations of children’s books to public libraries and charities.
This comes at a time when the rise of the creative economy coincides with a growing literacy crisis among American schoolchildren, as the pandemic has deteriorated early reading skills. “We know that the prohibitive costs of book publishing and the industry’s control over the process have limited the number of new stories and voices that can be made available to young readers, and we’re here to change that,” says Cruikshank & Wallace founder and managing director Ralph Cosentino. By unlocking the benefits of NFTs and applying them to the children’s book industry, this project reimagines publishing in the Web3 world.
How it works:
Unlike traditional publishing routes where revenue from the book is dependent on the publisher’s ability to sell the book, the launch of “I am the Frankenstein monster” will create an NFT issue that will in turn fund the printing and distribution of physical book copies. Most importantly, this new model for using NFTs to fund children’s books will allow the creator and buyer to donate books to literacy programs and public libraries at a time when their funding is being decimated.
Cruikshank & Wallace have partnered with two leading literacy charities, Project Nattnatt and Reader to Reader to donate thousands of books to allow every child to have the opportunity to read and experience the wonder of books!
About Cruikshank & Wallace
Cruikshank and Wallace is an independent media company that focuses on child-centric content and brands at the intersection of Web2 and Web3. Founded in 2022 by Ralph Cosentino, a children’s book author and illustrator with 15 years of publishing experience having worked with Cartoon Network, Warner Brothers and Hallmark. Ralph has monetized his IPs through licensing and entertainment, having developed and sold a book and toy line in Target stores based on his Honk Honk Ashoo IP. His most recent work includes development Kitty cones as an animated series based on his books published by Inside Editions and Scholastic with toy lines sold in GameStop, Target and Claire’s. He is currently developing his second book IP, Peanut Bear, as an animated series. Ralph is represented by Top entertainment.
Media contact
Ralph Cosentino
[email protected]
(203) 654-9730
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SOURCE Cruikshank & Wallace
