Update (April 25th): - ILetYou went live this week.
iLetYou, which is currently in private beta, is a new social DVD and video game exchange. However, iLetYou is a bit more innovative than existing DVD swaps: it allows stores, entrepreneurs and individuals to create their own rental stores and earn money or credit on a revenue share basis.
It's a bit like having an eBay Store, but you're renting your movies, rather than selling your unused stuff. There will be tens of thousands of titles available by launch day, the founders say. Users can also rate movies and comment on them - what's more, every movie page provides a choice of user-provided stores to rent that film from.
iLetYou is a nice, simple attempt to let users build their own Netflix or Blockbuster. Like all marketplaces, however, it'll need to build a critical mass of buyers and sellers to be useful. Its co-founder was behind iNods, the social shopping site. Look out for its upcoming launch.
See also: SaySwap.
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