SINGAPORE, June 11, 2018 /PRNewswire-USNewswire/
-- William Entriken, the main author of the ERC-721
non-fungible token ("NFT") standard and other digital projects,
will be joining the BLMP team as an advisor. BLMP's innovative
efforts to streamline the virtual goods industry will benefit from
Entriken's skill and experience.
BLMP uses blockchain technology to solve problems in the virtual
goods market, an industry that is already experiencing explosive
growth from video game skins selling for over $50K USD and has even greater potential, but also
faces serious obstacles to growth. BLMP's platform, Air, uses
blockchain technology to create unique items and to track the use
of licensed virtual goods to ensure they're bought and sold with
proper permissions. It is a full blockchain based solutions also
consisting of a proprietary wallet, self-enforcing smart contracts,
and a secure token for payments, allowing everyone who produces,
owns, and distributes virtual goods to form authenticated
profitable licensing agreements.
Entriken is the leading author behind the development of the
ERC-721 token standard, which allows you to create and manage
in-game or in-app unique assets (collectibles). This token standard
is a standard part of Ethereum, the world's second largest
cryptocurrency. With this token standard, users can purchase,
trade, and sell unique items on the blockchain. ERC-721 was
first made famous by the distributed application, CryptoKitties,
and is technology that is used in many popular blockchain projects
and is projected to have enormous impact regarding property
ownership. Entriken's extensive experience in software
development and a range of other blockchain initiatives, combined
with his experience in auditing complex software architecture, make
him an excellent fit for the BLMP team as they design a secure
platform for everyone involved in the branded virtual goods
market.
BLMP's Blockchain Solution
BLMP utilizes blockchain technology to solve the most complex
problems of the virtual goods market, including:
- Licensing Issues - Brands, content creators, and publishers
have trouble forming viable licensing agreements concerning branded
virtual goods they want to create. BLMP creates self-enforcing
smart contracts by storing instructions in the blockchain, making
it easier for all participants to form such agreements.
- Questions of Authenticity - Both the brands that own virtual
goods and the consumers that buy them need to know these items are
authentic. Through blockchain tracking methods, BLMP makes sure
virtual goods are only ever used with their brands' permission,
guaranteeing their authenticity.
- Royalty Tracking - With each sale of a virtual good, the
brand, the publisher, and the content creator must each get a cut
of the revenues. BLMP makes sure these revenues are
distributed promptly and equitably.
Despite the obstacles it currently faces, even without
considering the profits generated from virtual skins, the virtual
goods market is worth $50
billion, not counting virtual avatar skins, and that number
continues to grow rapidly. With BLMP's innovations, the industry
can expand even further, generating both wealth and creative
expression all over the world.
Entriken's Enhancements
Will Entriken has the experience
and skill necessary to help BLMP design complicated smart contracts
and other tools. Entriken has a long history of organizing complex
systems, including when he worked on rail schedules for SEPTA, the
main transit system for the Delaware Valley. He also has direct
experience with blockchain technology and cryptocurrencies, having
served as the lead author of the open source standard for ERC-721
and ERC-165. These qualifications make him a great fit for BLMP as
the team tackles the issues currently facing the branded virtual
goods market.
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SOURCE Blockchain Licensing Marketplace