Cruikshank & Wallace Publishing Launches the World's First NFT-Funded Children's Book to Create New Monetization Avenues in a Web3 World While Giving Back to Literacy Programs
By instantly monetizing their content, this project shows children’s book creators that they can fund the printing and direct-to-consumer distribution without relying on traditional publishing
HAMDEN, Conn., Oct. 27, 2022 /PRNewswire/ — Cruikshank & Wallace, an independent publishing house, announced today 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 fund printing and distribution, children’s book creators can break free from reliance on 1-1 sales or royalties from traditional publishers. This gives children’s book creators an alternative means of revenue while allowing them to expand their reach. Most importantly, this new publishing model of using NFT funding allows creators and holders to support literacy through donations of children’s books to public libraries and charitable organizations.
This comes at a time when the rise of the creator economy coincides with a growing literacy crisis among U.S. school children, as the pandemic has worsened early reading skills. “We know that the prohibitive cost of book publishing and the industry’s control on the process has limited the number of new stories and voices that can be made accessible by young readers, and we are here to change that”, says Cruikshank & Wallace Founder and CEO Ralph Cosentino. By unlocking the benefits of NFTs and applying them to the children’s book industry, this project is reimagining publishing in the Web3 world.
Unlike traditional publishing routes where revenue from the book relies on the publisher’s ability to sell the book, the launch of “I am the Frankenstein Monster” will create an NFT edition that will in turn fund the printing and distribution of physical book copies. Most importantly, this new model of 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 has partnered with two leading literacy charities, Project Night Night 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!
Cruikshank & Wallace is an independent media company focusing on kid-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 experience in publishing having worked with Cartoon Network, Warner Brothers, and Hallmark. Ralph has been monetizing 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 recent work includes developing Kitty Cones as an animated series based on his books published by Inside Editions and Scholastic with its toy lines sold in GameStop, Target, and Claire’s. He is currently developing his other book IP, Peanut Bear, as an animated series. Ralph is represented by Striker Entertainment.
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SOURCE Cruikshank & Wallace