Itheum is transcending the way personal data is leveraged and traded on the blockchain. Users now have full autonomy over their information, allowing them to dictate how it’s used across different channels.
NFTs and the Metaverse have turned into a booming industry, and this trend is continuing to make waves across the crypto space. We’re here to compliment this buzz and have therefore created a suite of products aimed at enhancing the user experience with data within the Metaverse.
Introducing NFMe ID, our flagship product that completely changes the game in regards to leveraging your personal data across the Metaverse. In many ways, NFMe ID is the closest thing to a “Soulbound” NFT as described by Ethereum Co-founder Vitalik Buterin in his blog.
What is NFMe ID (Non-Fungible Me) ID?
At Itheum, our team believes that each person’s data is unique to them — therefore, every individual can be viewed as a “non-fungible human.” If we look at our data individually, then our fingerprints or DNA can be considered non-fungible. NFMe ID is essentially a customized digital avatar built using NFT technology and backed by your own actual personal data.
Anyone can mint an NFMe ID on Itheum and claim ownership of it. In addition, more accessories are minted and added to the NFMe ID as more data is collected — they can also be traded, as each one is unique.
How it Works
NFMe IDs can be described as the data avatars of the Metaverse. All users need to do to get their own NFMe ID is to join our Data DEX and complete a seed profiler job. An NFMe ID has PDCs (or Personal Data Categories) that are linked to it — they essentially feed it data that is then secured within Personal Data Vaults. PDCs can contain several categories of personal information, such as financial, social, historical, gaming and more.
Any app built on Itheum’s Data Collection and Analytics Toolkit (Data CAT) can feed data to the PDC. Organizations that run these apps can then incentivize users to provide them access to their data. Personal Data Adapters also discover and ingest more off and on-chain data, locking it into the data vault where it’s linked to the NFMe ID. As more data is linked to the NFMe ID, additional accessories and evolution traits become available and can be added to it.
Benefits: What Can NFMe IDs Be Used For?
NFMe ID avatars have several use cases and benefits, some of which are as follows:
- Support for native NFT capabilities given the nature of their design. It’s important to note that NFMe IDs can only be leased to others who can access your data in return for shared value (they cannot be traded — i.e. they are “Soulbound” assets)
- Users can interact with other NFMe ID avatars and trade accessories and evolution traits or go on missions with other avatars on Itheum’s Virtual Data Metaverse
- Users can participate in the governance of Data Coalition DAOs (Decentralized Autonomous Organizations) by staking/farming and providing data curation and quality assessment services. Moreover, users can give the DAO access to their NFMe ID, enabling them to trade data on their behalf
- Users can easily segregate certain data sets from a particular app and create Data NFTs, which can then be sold in secondary markets
Interoperability and Fitting Into The Metaverse
NFMe IDs are designed to be interoperable, enabling users to explore other Metaverses, ecosystems, and virtual worlds. This type of interoperability also ensures that an NFMe ID can interact with more digital assets, with our team also exploring how we can port NFMe ID avatars into other virtual worlds. While these interoperable avatars are at a very early stage in terms of their development, certain projects have shown tremendous promise — Itheum will explore the possibility of extending our NFMe ID avatars into other virtual words to broaden the scope of our reach.
Plenty of Promise
NFMe IDs are next-generation NFTs that will completely transcend the way we utilize and perceive our personal data. They’re adding an entirely new and customizable concept that has a wide range of utilities, allowing you to not only trade your data but also immerse yourself in the Metaverse.
Our goal is to drive the adoption of NFMe ID to users worldwide, bringing growth to not only our platform but also allowing for interoperability between popular Metaverse projects such as The Sandbox, Axie Infinity, Decentraland, and Meta.
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 enable 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 consumer space.