ENTX Seeks Blockchain Solution To Digital Goods Pricingbr>
Entrepreneur David Brillembourg aims to create a search engine that will determine the value of various digital goods. Brillembourg’s ENTX has a blockchain product that tracks tokens and digital goods (called “skins” in gamer parlance), and allows a universal exchange that can create and convert the value of digital goods, empowering users to pay, tarde or exchange for other digital goods.
Brillembourg talked with Block Tribune about the project.
BLOCK TRIBUNE: Let’s start out with the basics. Give me a definition of digital goods.
DAVID BRILLEMBOURG: Well, digital goods are goods that have been published for trading in a digital world. Basically things like skins, where the publisher will associate a digital good for a game, like in Counter-Strike, for example, where you have skins, or games with other goods, like SimCity, for example. Goods that are tradeable or changeable in a digital world, basically.
BLOCK TRIBUNE: Are there any other things beyond skins that qualify as digital goods?
DAVID BRILLEMBOURG: Yes. Obviously, tokens are all digital goods that are tradeable. Every sort of coin or token associated to the blockchain is a digital good.
BLOCK TRIBUNE: Okay. Tell me how your service is going to work. Take me through it. If I’m arriving at the site, what happens?
DAVID BRILLEMBOURG: Well, what we’ve been basically looking at is what are the big challenges, and the big opportunities with this new blockchain model. What makes it so special? For us, as we looked into it and went deeper, we realized that it’s really about the behavioral change of the digital natives. Digital natives become more virtual in the world, because they grew up with cellphones and apps on their phones. You realize that they have a life, completely a part of life, that is digital.
They start to use these skins as entertainment, and then as potentially things to trade. A phenomena that we looked at very specifically was skins being traded for a very specific game, and the volumes were large, which is Counter-Strike, more than ten billions dollars a year. We realized that there was a fundamental behavioral change.
The next step is, as you see with the blockchain revolution and the coins, and now I see that a lot of people are issuing their coins, not necessarily because they’re raising money, but because it makes sense. The more the coins get issued and the more digital goods that get issued, eventually a lot of loyalty programs, a lot of different goods will merge into these technologies. There will be thousands and tens of thousands, if not hundreds of thousands, of goods that will become digital to be traded.
Our intent is to create a search engine similar to Google that basically allows the crowd using the blockchain to price these goods. You can have people around the world contribute for the first time in a very large experiment, which basically what’s this worth? Before that, companies didn’t have the chance to do that, because there was not ability to incentivize. There was not a transparent enough mechanism that allow everybody to understand how things were priced. Companies would price them independently.
Now, basically with the blockchain, you’re allowed to include everybody. Include the power of the crowd to price anything, and anybody could be an expert or give their opinion about the value of something. That’s what we’re trying to achieve there. For the first time it’s possible, that was not possible before the blockchain.
BLOCK TRIBUNE: There are a couple other sites that do skin trading right now. What’s your differentiation?
DAVID BRILLEMBOURG: Well, skin trading is different. Skin trading is similar to eBay. Basically, you post a skin, you own a skin, and you want somebody else to buy it. You set a price and somebody that is willing to either buy it and trade it for that price that is being set. There’s really not a third part pricing mechanism. We’re not a trading skin site. There’s plenty of sites that do that. There’s five large ones and another 10 or 15 that do that.
Our business is not to actually trade the skin, but it’s to give a price to the digital good, which is starting with the skins, but it could be any digital good. It could be a token. It could be a digital good. It could be anybody who eventually publishes or issues a digital good that would need a price. As the proliferation of goods becomes larger and larger, eventually people will to know what things are worth. You know, “What am I buying when I’m buying this digital good?”
BLOCK TRIBUNE: Okay. There’s a quote in your release that says, “The value of all goods will be determined by the crypto economy.” Can you explain what that means?
DAVID BRILLEMBOURG: Well, I think the power of blockchain, at least for me personally, has been how social systems are going to change, how they’re going to be organized, and eventually, how everybody can contribute, in this specific case, through the pricing of things. Before that, pricing experiments are very secretive, are very private, are very secret. Companies do it themselves for their own goods, trying to maximize the, call it the value of something, like airlines do or hotels do. The reality is that now you have the ability for everybody who is an expert, or thinks it’s an expert, or has an opinion to participate. Think of that, the power of, call it, the pricing mechanism that, obviously, we’re launching.
BLOCK TRIBUNE: Do you have an ICO coming up?
DAVID BRILLEMBOURG: We have not decided about an ICO. At this point, we’re focused really on launching the technology and understanding the community and asking the community to help us figure this out in the most effective way. We think it’s a very powerful tool. It may or may not become an ICO. At this point, our intent was can we understand the opportunity? Can it be done technically? Then, can we launch it? After that, let’s hear the power of the blockchain. It’s a community. Everybody wants to contribute. It’s open. If we can get the opinions of thousands of people helping us figure out a way to make pricing more transparent for any good that is digital, that’s really the power.
Last Thursday, we’re this week at the Ethereum Developers Conference in Cancun, meeting with all the folks that are doing this wonderful stuff. We’ll see the feedback that comes out, and then we’ll start thinking about how it evolves after.