In the blockchain space, data ownership is becoming increasingly important, especially with the rise of AI. Data is crucial for AI models, which require high-quality data obtained with user consent.
Itheum is a blockchain project focused on data ownership, aiming to help individuals transfer their data from Web2 to Web3, where they can own and share it securely and transparently. A key innovation from Itheum is Data NFTs, a new standard that links dynamic data streams to specific NFTs, enabling access to the data behind these non fungible tokens.
Below you’ll find a YouTube video that explains the end-to-end concept of Itheum V2: Data for the AI Era. In this video, we explore the following:
- Exponential Growth of the AI Industry: AI is rapidly expanding and requires vast amounts of data to fuel its growth. Itheum’s role is to connect the demand for data with the supply needed by AI.
- Challenges in Current AI Data Sourcing: The current methods of sourcing data for AI are flawed, lacking transparency and often failing to obtain data with user consent. This means individuals cannot monetize their data by trading it with AI.
- Itheum’s Solution: Itheum aims to address these issues by tokenizing data for AI. We leverage blockchain transparency, create a workforce to supply bulk data with consent, and convert data into a tokenized asset class, allowing individuals to earn from their valuable data.
- What Itheum Does: Itheum is an infrastructure protocol that tokenizes data using the NFT standard, creating Data NFTs. Since 2021, we have pioneered the Data NFT standard, collaborating with MultiversX for Data NFT Minting and data marketplace, and utilizing compressed NFTs and the Token 2022 standard on Solana.
- AI and Gaming Industry Focus: Our go-to-market strategy targets the AI and gaming industries due to the vast, untapped potential. Billions of gamers generate petabytes of valuable data every second.
- Itheum’s Operations: Operating at a protocol infrastructure level, Itheum offers products for general use, with Data NFTs as the core. Each trade of a Data NFT generates a protocol fee, contributing to the protocol revenue.
- How Itheum Works: Details on the operation of Itheum will be explained, including our mechanisms and technologies.
- Passport Framework: This is our data-generating app development framework running on Itheum. The Passport Framework facilitates the creation and management of Data NFTs, supporting a variety of use cases and industries.
Discover Itheum V2 — Tokenizing Data for AI Innovation. Watch the YouTube video now!
Unlocking Data Value: Itheum’s Role in Data Hungry Industries like AI
Itheum empowers content creators to own and monetize their data. For example, musicians can create evolving albums and exclusive experiences via Data NFTs, while artists can share their work privately with NFT holders. These use cases demonstrate how Data NFTs can control access to private information.
In an era where AI and ML models rely on diverse datasets, Itheum bridges the gap between data creators — ordinary people without special skills — and AI models. The AI industry struggles with sourcing high-quality, consented data in bulk, lacking transparency, and excluding individuals from monetizing their data. Itheum addresses these challenges by enabling users to trade their data with AI securely.
Itheum is a Web3 protocol that provides the infrastructure for owning and monetizing data. Itheum’s goal is to tokenize data for AI, bring blockchain transparency to AI data use, create a workforce to supply bulk data with consent and convert data into a tokenized asset class. This allows everyday individuals to earn from their valuable data.
Data NFTs and Gaming: Itheum’s Approach to Tokenization and Market Expansion
Itheum operates as an infrastructure protocol that tokenizes data using the NFT standard, creating Data NFTs. These Data NFTs are core to Itheum’s operations, representing the smallest units of data. Each Data NFT trade generates a protocol fee, contributing to Itheum’s revenue which can be distributed via a staking mechanism to the data contributors.
The AI and gaming industries are Itheum’s primary target markets due to the vast amounts of valuable data generated by billions of gamers. Itheum offers products like the Passport Framework, a data-generating app development framework. The upcoming Gamer Passport is a key product in this framework.
Phase 1 of the Gamer Passport involves distributing a Data NFT collection via Drip Haus. Users can connect their PlayStation accounts and “check-in” their gaming data, such as game time and achievements. An AI aggregator will compile this data, tokenize it using Hybrid SPL404 fractionalized NFTs, and allow these to be traded on DEXs and NFT marketplaces
Key roadmap items include the launch of Data NFTs using the compressed NFT standard and the BiTz XP Data NFT collection. The next step is the alpha version of the Gamer Passport, which will be announced at the Solana Summit, marking the onboarding of gamers to the Gamer Passport Alpha.
BiTz XP, ITHEUM Tokens, and Data Quality in Web3
How is the human workforce incentivized to provide high-quality, up-to-date datasets? Itheum achieves this through BiTz XP points, which generate proof of activity and lead to Liveliness drops backed by ITHEUM tokens. Essentially, active participants who engage daily earn more BiTz, which are converted into ITHEUM tokens. These tokens enhance their Web3 reputation score — known as Liveliness — by being bonded to create a TVL effect. This boosts the token utility and builds Web3 reputation without publicly disclosing the user’s identity, a core principle of the blockchain space.
AI companies can utilize the Liveliness score to engage high-reputation accounts, encouraging them to produce more Data NFTs. This creates a greater demand for Data NFTs, as these high-reputation accounts incorporate increasingly valuable data. AI models can then leverage this high-quality data, enhancing their performance and reliability.
Itheum V2 Debuts with Compressed Data NFTs and BiTz XP on Solana via DRiP
Itheum V2 has kicked off with the release of its pioneering compressed Data NFT on Solana and the introduction of BiTz XP through DRiP. This initiative invites Solana users to participate in the Proof of Activity system within the Itheum Ecosystem, engaging in activities like the meme burning game to earn BiTz XP. Additionally, all protocol actions contribute to accumulating BiTz XP.
To gain free access to the Itheum Protocol, simply subscribe to our DRiP channel and stay informed. Future drops of BiTz XP Data NFTs are planned, ensuring everyone can access these opportunities by subscribing to our channel.
