Ashwatha Tree Book NFT Launch – India’s first children’s book NFT

Key points about India’s first children’s book NFT

 

1. 1. India’s first children’s book NFT launched as a unique collectible book cover digital card for the book ‘7 colours of Holi’ authored by Tulika Singh from Ashwatha Tree.
   2. This is also the first NFT ever signifying the beauty, diversity, and colours of an Indian festival. The festival of Holi, which is just a few weeks away, holds a special place in the Indian culture celebrated by people across globally.
   3. Children books is a perpetually under served segment, particularly books demonstrating stories emanating from the Indian folk culture and spiritual milieu.
   4. It is important for us to develop a culture of reading for children to optimize their screen time and balance it with time spent reading books, particularly those that introduce them to the rich culture and stories from India. This content is in short supply in our post digital pop culture, which is where Ashwatha tree steps in.
   5. Ashwatha Tree led by Tulika Singh is on a mission to publish 100 books to address this much needed endeavour. 21 books with rich pictorial representation have already been published.
   6. The proceeds from the sale of the NFT would be utilized towards sustaining this initiative financially and distributing hundreds of these books for free to organizations taking care of underprivileged children.
   7.  We believe in leveraging the NFT revolution to create real world utility for the NFT holder. The owner of this NFT will have the privilege to order and distribute an Ashwatha Tree book set, once a year, to any children’s NGO or non-profit organization of their choice.
   8. We believe a lot of people out their may be interested in supporting this noble cause
   9. We will soon be launching the next set of Ashwatha Tree book NFTs and make their details (how to buy, own) available from our website.
   10. We are grateful to our technology partner Squirrel Solutions, a Bangalore based NFT and Metaverse tech start-up, in partnering with us in this journey. This is the first public NFT launch facilitated by Squirrel Solutions.
   11. Quote from Pradeep Singh, Founder – Squirrel: We believe that this is just a beginning in the efforts of the tech start-ups in leveraging the blockchain technology for creators and brands to establish their presence in the Metaverse and create digital goods that benefit all their stakeholders including deriving societal benefits. NFTs with underlying utility are just the first step in these early days of the journey into the Metaverse. Indian start-ups are creating a lot of buzz already in this space and have a big role to play in how the Metaverse story shapes up.

What is an NFT:

NFT stands for ‘non-fungible token’. When something is fungible, like a dollar bill, it is equivalent to, and can thus be exchanged for, any other dollar bill. In contrast, a non-fungible token is a unique asset in digital form that cannot be exchanged for any other NFT. This means that every NFT is a ‘one-of-a-kind’ item. NFTs are transferred from onw owner to another using blockchain technology, which creates a digital trail from seller to buyer that verifies the transaction. This encodes the unique ownership rights to the buyer (new owner).

The physical world counterpart would be a unique collectible asset such as a piece of art, for which you might have a certificate of ownership attesting to its authenticity. The NFT with its blockchain technology replaces the need for certificates of ownership.

(Source: Seekingalpha.com)