NCHAIN INVESTS IN LIBRARO TO REVOLUTIONISE THE BOOK PUBLISHING INDUSTRY

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Apr 25, 2023, 09:58 ET

LONDON, April 25, 2023 /PRNewswire/ -- nChain today announces its partnership with Libraro to revolutionise the book publishing industry with blockchain technology. nChain is investing £2 million into the company and taking a 20% equity stake to drive the development and adoption of Libraro's solution.

Emerging from the successful and innovative blockchain incubator programme Block Dojo, which forms part of nChain Group, Libraro harnesses the power of crowd reading to connect authors with readers and publishers in an innovative way.

"We're very excited to partner with nChain and leverage their expertise in blockchain technology," said Arsim Shilova, Libraro CEO. "Their investment will help us build a state-of-the-art, secure and scalable platform for aspiring authors to showcase their work, protect their intellectual property, and engage with their audience."

By leveraging nChain's robust Web3 and Blockchain IP portfolio, the partnership will enhance Libraro's platform capabilities. nChain will also support Libraro through development and professional services, using their expertise in building apps and providing back-end blockchain infrastructure.

Christen-Ager Hanssen, nChain Group CEO, added that "We're happy to announce our partnership with Libraro. With our expertise and development capabilities nChain will be their tech partner, using our IP portfolio, to boost their product offering. This solution has the potential to transform the publishing model by empowering readers and helping new writers get published. Our collaboration with Libraro is another great use case in another industry where we are making an impact."

With the book industry worth $112 billion globally, this partnership aims to create a more open, transparent, and inclusive publishing industry.

About Libraro

Libraro is the world's first digital literary agent that is creating a decentralized, digital infrastructure to discover new talented authors and offer publishing houses an opportunity to discover fresh and original content. Their scalable, secure and sustainable solution provides a platform for writers to connect directly with readers, build a fan base, and gain valuable insights before the book is published.

SOURCE nChain