Live Announcements from the Itheum Universe at Elrond’s X-Day Event
Itheum celebrated its first team conference in style at the Elrond X Day event in the heart of Paris. The team hosted a booth for the event, and our founder, Mark Paul, took to the stage yesterday to announce the revolutionary news to the world. The team has been working tirelessly to share these exciting updates with the community, and now the news is out, we will be marching forward to progress further. The pieces of the puzzle are all coming together, and our vision is beginning to blossom.
Read below to learn more about what we announced at X Day, and look out for exclusive and in-depth updates on each development.
Data licensing via NFTs are now available for the first time on Elrond.
We are thrilled to introduce a unique way of data licensing in the Web3 era powered by NFT technology. Data NFTs enable Data to be autonomously traded between humans and machines or machines and machines.
Your individual data or data from your machines (e.g. your Tesla car or smart watch) is highly unique and precious. Itheum will enable you to package and mint your valuable data as NFTs. Packaging and trading your data as NFTs have the following benefits:
- Limit the distribution of your datasets to a smaller amount or mint multiple copies of the same dataset if you want to increase the reach of your data.
- You can choose to earn royalties if your data is re-traded. You can limit the distribution of your data but should a buyer re-trade your data NFT, you have the option to earn a % reward as a royalty.
- Once data is packaged and tokenized as an NFT and being available within the Itheum Data NFT marketplace, we are also looking at interoperability with other regular NFT marketplaces like XoXNo. This significantly increases the trading power of your data as the audience for your data increases.
- Your unique data will be minted with an aesthetic “generative art wrapper” created using the unique signature of the data. E.g., your DNA data can be represented as a piece of unique art.
The first Data Coalition DAO is LIVE: Brokering the trade of data for gamers worldwide.
Data Coalitions are DAOs where the “Creators” of the Data Coalition will bond $ITHEUM tokens to form and run it. The creators are called “Board Members,” and they are incentivized to run the Coalition in the best interests of its “Members.”
The first DAO will be labeled the Gamer DC DAO, which intends to bridge the gap between the data creators and consumers.
It’s a trustless, permissionless, transparent, and composable DAO. Ergo a neutral space to steer the direction of the data in the Web3 gaming industry.
Only whitelisted DAO members will be able to vote, while any user can join the DAO.
This DAO aims to solve two things:
Pricing for Data
a. How much is the games data worth to a 3rd party buyer
b. Guilds/Games will suggest what they will reward to the gamer based on the quality of the data
- This can entail the data available on free and paid tiers
- Anonymized data and its usage
- Revenue split based on the produced data
- Jurisdiction/Selection of data storage location
Itheum’s highly unique NFT Genesis drop is coming.
We are delighted to announce that our first NFT drop, The NFMe Genesis, is coming to a marketplace near you in 2023. This extraordinary collection will come with never-before-seen utilities, exclusive for early adopters and community members. The NFTs will be the ancestors of our soulbound NFMe Avatar ID and, unlike the NFMe itself, will be tradable in NFT marketplaces.
The Itheum Ecosystem Grant Pool is LIVE!
Introducing the Itheum Ecosystem Bootstrapping Grant Pool. Join us in building the infrastructure for a data-connected world!
The Itheum Ecosystem Bootstrapping Grant Program will accelerate growth and kickstart the ecosystem, further developing the data connections between games, game infrastructure platforms, guilds, and gamers.
The program is also open for all projects at any stage to apply, including other verticals (not restricted to just gaming), as long as they promote and share the same values of Itheum regarding data ownership, sovereignty & fair compensation of data usage.
Itheum empowers data ownership in the Web3 and Metaverse ecosystems and creates new market value for your data. It enables this by providing “decentralized data brokerage” technology. It’s a suite of tools that enables high-value data to be bridged from web2 to web3 and then be traded via peer-to-peer sales. It allows for “viral adoption” via our creative “Data NFTs” (provide “inner value” to NFTs and enable royalties / limited supply) and “NFMe ID” technology (a living Metaverse avatar representation of you — wrapped as an NFT and backed by personal data) and our innovative Data Coalition DAOs (which bulk trades your data). It also aims to be fully privacy-preserving, regulation-friendly, and cross-chain, making it the most comprehensive core blockchain data infrastructure available in the market, with use cases in both the enterprise and retail space.