Itheum Ico Review: The Web3 Data Platform for the Metaverse

About Itheum Ico

Itheum Ico is a startup, enabling data to be transformed into assets and traded in an open marketplace. Itheum is the world’s 1st decentralized data brokerage platform that transforms your personal data into a highly tradable asset class. It provides Data Creators and Data Consumers with the tools required to “bridge” highly valuable personal data from web2 into web3 and to then trade data with a seamless UX that’s built on top of blockchain technology and decentralized governance.

Itheum provide the end-to-end platform required for personal data to be made available in web3 for the first time in history and to enable many more wonderful and complex real-world use cases to enter the web3 ecosystem. Itheum provides the core, cross-chain web3 protocol required to enable personal data ownership, data sovereignty, and fair compensation for data usage – and this positions Itheum as the data platform for the Web3 and Metaverse Era.

Token Basic Information

Core Products

Itheum has 3 Core Products that work in unison to enable new data to be generated and collected from the web2 world and for that data to then flow seamlessly into the web3 domain (via Data CAT – Collection & Analytics Toolkit). This data can be claimed by the Data Creators (users who originally generated the data) and traded using our innovative peer-to-peer data trading technology (via Data DEX).

For a platform like Itheum Ico to reach its highest potential it also needs to have mass adoption (more users = more data = more data trade) – we aim to achieve this via final core product (called the Data Metaverse) – where we provide “viral”, “sexy” and “low barrier to entry” consumer products that will appeal to the masses and in-turn fuel mass adoption.

Data Collection & Analytics Toolkit (Data CAT)

Anyone can use Itheum Data CAT to seamlessly build apps and programs that can collect structured and rich personal data from users and also provide visual trends and patterns on the collected data (usually using fully anonymous or semi-anonymous analytics to protect the “Data Creator” — i.e. the user who generated the original data)

With this product, Itheum Ico provides real-world value and adoption — and in return, they generate highly structured and outcome-oriented personal datasets (i.e they normalize what user data looks like across organization silos)

Decentralized Data Exchange (Data DEX)

This product enables you (the Data Creator) to own and trade the personal data which was collected by the organizations who built apps on Itheum Ico Data CAT product. It unlocks the personal data from these organization silos and lets you trade your data on the open market with organizations and agencies that can derive value from these previously locked datasets.

So in those same examples given above:

1. If you use that health and wellness company’s app; you get to own your data and then trade the health and wellness data you collect as part of your subscription to that app by using the Itheum Data DEX.
2. If you use that financial organization product; you get to own your behavioral data and trade it as you choose with anyone else on the Itheum Data DEX.

Data Metaverse

The concepts behind data trading and blockchain-backed data technology can be overwhelming for most people to grasp. This is a key reason why many of the current web3 data platforms have very low adoption and hype. For platforms such as Itheum Ico to change the dynamic of data ownership they need large-scale bottom-up adoption – and this kind of adoption can only come if they build consumer products that “everyone wants to use”.

Data NFTs

The NFMe ID host can choose to take subsets of their base data and mint them into separate Data NFTs. These Data NFTs are linked to the base NFMe ID but can be independently traded in our own Data NFT marketplace or secondary marketplaces (e.g. OpenSea). As an example; the user can add more data to their NFMe ID by joining an app like the Red Heart Challenge (an app built on Itheum Data CAT), as the user participates in the data collection as part of this app; data will flow into the NFMe ID. The user can then choose to mint a Data NFT that only holds the subset of data generated via the Red Heart Challenge. This Data NFT can then be traded to a commercial enterprise or researcher who may be keen to access the core dataset. Ownership of a Data NFT provides access to the underlying data (so long as the “terms of use” are followed)

Trading Any Arbitrary Data

The Data DEX also allows you to trade any arbitrary data using the same on-chain facilitation process. This allows anyone with a crypto wallet to upload and trade datasets via the Data DEX. This reduces the barrier of entry for end-users and also provides them an equal opportunity to participate in the shared data economy. At this stage, we allow for the trade of the following arbitrary datasets.