Dev shop Engine Room enters the NFT space with a platform that allows creators to autograph their work
Software company The machine room is widely known for creating secure platforms and solutions for clients in the banking, higher education or healthcare industries.
But the company has recently entered a new space, a rapidly growing slice of technology that also relies heavily on security – NFTs. Engine Room Partners With Another Philly Tech Company All Certified, a developer of NFT toolkits, to develop an integrated platform that would allow celebrities, athletes and artists to strike their NFTs with an autograph.
NFTs – non-fungible tokens – have grown in popularity over the past few years as a way for creators to sell and share their digital work. They are based on the idea that rarity and authenticity are less common in the digital age, and these characteristics should be restored. By selling on the blockchain, users can verify that what they are getting is an original. (And hey, the main standard for them was born in the Philadelphia area.)
Dennis Egen, president of the engine room, and Michael eckstein, Founder and CEO of AllCertified, both grew up with a fascination with baseball cards. Both were collectors and rare items caught their attention.
“There is an inherent value in something when you understand that there is a limit to the number of people,” Egen said.
The pair said the growing trend of NFTs reminded them of their younger years chasing a certain baseball card or standing in line to claim their favorite player’s signature.
“But once you get the autograph and go, you’ve got a card that’s now worth a lot more money, but the player doesn’t gain anything from it,” Eckstein said.
His idea of an authenticated autographed NFT exists in this thought. Someone who creates and distributes a work should be able to have some control or gain over future sales of that work, and affixing an NFT with a signature gives more power to the creator, Eckstein said.
For example, when Taylor Swift republishes it “Red”Next month, she could create 100 NFT of signed album covers, selling them to fans at a flat rate. Suddenly, a limited series of works exists, and all sales – which occur on blockchain technology – would go back to his original creations. The concept works for athletes, musical or visual artists, and even influencers.
Eckstein had been developing the concept behind AllCertified for some time, but said he needed the right team of security professionals who understood how to build for blockchain technology, and was happy to find a local partner in the machine room. of Center City. He has applied for a patent for the technology and has until May 2022 to finalize the submission functionally.
Egen said the company is hiring new talent to specialize in this new space of smart contracts and blockchain, and the service itself is expected to be ready to roll out in the first quarter of 2022. Although it is of a new avenue for the company, it makes sense to expand. that way, said the founder.
“Things like encryption and security that we do every day, and blockchain is another implementation of security or encryption,” he said. “The audience may be different, but the underlying technology is in our wheelhouse. “