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NFTBook Price Discovery

If NFTBook price = (NFTBooks in the pool / TVL in PAGE in the pool), NFTBooks can be automatically issued to stabilize the price around a target set by the governance DAO in by vote facilitated by $ATOM SDK boilerplate as long as the supply for the book does not exceed demand by a degree sufficient to price out consumers from the market.

Primary Market LPs and Automated Minting to Maintain Target Price

The target price (TP) of the work is set after Price Discovery and incentives to LP are similar in scale to $OSMO’s setup (native token distribution to incentivise LPing and Staking behaviors). TP is adjusted by a pool-specific DAO, and instead of borrowing or lending at launch, readers will simply purchase the book, granting access to text and/or audio functionality via the dAPP/NFTBook tokens created via the dAPP at Borrowing the NFTBook can thus pay a user if the price of the book expands substantially between acquisition and return of the NFTBook, but the NFTBook price can crash if supply exceeds demand, so staking and HODLing options must be balanced with respect to the rewards generated by users.

Eventually, multi-book NFTBook Pools can form (once network conditions create sufficient volume to populate them) and set NFTBook prices relative to one another, but that probably requires either an upgrade to this basic concept or an additional module to enable it to value the various assets against one another. Lending and/or temporarily cloning assets from a pool can be enforced via smart contracts, but again this functionality will become available sometime after the initial launch.

Secondary NFTBook Market LPs

In addition to the primary, publisher-run NFTBook stores, secondary markets won't create new NFTBooks, but could profit by re-selling existing ones or undercutting prices that are set too high in the primary LPs that have the ability to mint more NFTBooks. This competition allows the market to reach a stable equilibrium and the incentives to align between writers, readers, and publishers to automatically price and distribute NFTBooks according to precise measurements of market demand. Furthermore, this technology stack could handle blogs or tweets just as easily as books, audiobooks, and translations of the same book into different languages. The PAGE chain could accurately be labelled a new Osmosis variant that handles NFTs instead of crypto tokens from other blockchains. Ownership of a particular book could track with ownership of the minting or primary LP for that book.