Why do you want to experiment in your house with a failed experiment? I can think of lots of reasons why an "engineered wood" tile, used as a tile, in a basement would fail. Is it worth it regardless of how inexpensive the tile itself is?
A few months ago I saw some "Madera tiles" They consisted out of lignasil, an "engineered wood" type of material. The company that made them went out of business, and this was a liquidation outlet The were selling them below $1/sqf The advantage is that they are warm (important over a basement floor) and not as brittle as ceramic. Now the liquidation place packed up their bags and left an empty building. Has anyone seen a place where they still try to sell some off?
Last I saw them was in Toronto, but someone suggested they moved to Calgary.
There are quite a few reasons why I did like the tiles, The company did not make it because the tiles were priced quite high, higher than ceramic The glue required was an epoxy glue, which is also expensive. So the tried to compete with ceramic, but at a higher price
For certain areas these tiles are great. I put them in my kitchen, which is above a garage. Not ony is the floor cool, but the joists in the garage do not have these cross-bars, so a neighbour with same style house has a floor with many cracked tiles, he investigated why, and that was the cause. It is a big job to first fix that None of my tiles have cracked, and do not expect them too.
These tiles saved me a lot of labour But the selection was terrible compared to ceramic
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