Itheum, a novel decentralized data brokerage platform for Web3 use cases, is on its way to Maiar Launchpad by Elrond. Why is this crucial for crypto economics?
Elrond-backed Itheum debuts on Maiar Launchpad
According to the official announcement shared by Itheum, the platform has secured support from Elrond and is ready to debut on its platform, Maiar Launchpad.
Itheum is a Web3 start-up focused on changing the narrative in data economics. For instance, it aims to reconsider the advertising sphere to protect viewers of content from one-sided data gathering.
Mark Paul, Itheum CEO, is certain that the mission of his protocol is aligned with the ongoing NFT and Metaverse trend that took the crypto sphere by storm:
Some of the brightest minds of our generation and insane amounts of resources are increasingly focused on finding new ways to harvest data from users and selling it further for ads. If we empower users and businesses to own their data and derive value from it, the internet can progress to a new level of usefulness and trust, a solid foundation for the next territory for human evolution: the Metaverse.
Itheum is a strategic partner of high-performance blockchain Elrond: it leverages Elrond as a technical basis and is a graduate of its Dubai-headquartered incubator.
As covered by U.Today previously, it yielded $1,500,000 in strategic investments from Morningstar Ventures through this incubator.
Itheum leverages NFTs for real-world value: What are NFMe IDs?
Besides cutting-edge techniques for data transfer, Itheum also allows users to harness the power of non-fungible tokens for real-world economics.
It pioneers NFMe ID technology, which allows users to attach metadata to every non-fungible token, including avatars in Metaverses. Eventually, it will create a context for more profitable experiences in Metaverses and Web3 in general.
Beniamin Mincu, Elrond Network CEO, is fascinated by the prospects of Itheum's ecosystem:
The elements are in place for building a compelling environment where adventure, exploration, and curiosity are elevated to unprecedented levels of immersiveness and unique relevance. Data will be the building blocks of the Metaverse, and Itheum is creating the premise for everyone everywhere to share in the significant upside potential of this untapped new economy
As covered by U.Today previously, in January 2022, Elrond acquired digital payments vendor Utrust.