While Chris Dixon and a16z may have distorted the sales figures of his recent book, Read Write ownWhat hasn’t had as much time in the spotlight is the book’s NFT offering.
Linked to the newly released Web3-worshipping tome is a bookmark that contains a code that allows readers to redeem an NFT on OpenSea (one of the largest NFT marketplaces). The problem is that no one seems to care.
Of the 5,000 NFTs available for redemption, only 5% – or 264 – have been redeemed by readers. It’s hard to match this with the fact that Read Write own landed at number nine on the New York Times bestseller list. To reach such a prestigious status, there’s no doubt that Dixon and a16z have moved thousands upon thousands of copies, physically, through ebook readers, and through audiobook applications.
So why is no one interested in the NFT?
It’s hard to say because exact numbers on who bought the books aren’t feasible, but there are at least two likely reasons. First, the bulk sales likely went almost entirely to a16z itself, which will slowly donate the books to partners and companies in which it has invested. Alternatively, many sales were organic, and simply no one cares about NFTs. Anyway, it is negative for Dixon and his thesis presented in Read Write own.
Opinion: How a16z played the NYT bestseller list
Read more: Chris Dixon says a16z isn’t selling its crypto tokens – the wallet disagrees
Major crypto companies teamed up to work on NFT
The Read Write own The NFT project was a collaboration between a16z, IYK, Manifold, Dynamic and Optimism – large and important cryptocurrency companies. In that sense, you might expect the NFT to be interesting and perhaps of some use. That expectation would be wrong.
Instead of, the NFT is a copy of the book’s cover and when redeemed it changes color and the pixelated sun moves around. That’s it, no more and no less.
Regardless, while the future of blockchains, tokenization, and NFTs remains to be seen, it’s clear that Dixon’s attempt to predict this and be credited for it has fallen on deaf ears.
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