Building The Metaverse Economy With Itheum, The Data Value Platform For Web3

Beniamin Mincu
·
Mar 09, 2022
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3 min read
https://maiarlaunchpad.com/itheum

Brokers such as social media platforms and search engines sell their users’ data to companies who seek to maximize the value of users for their businesses through highly targeted ads and predictive analytics. This is the model evolved that enables them to keep most services free.

Still, as a consequence, the internet has become a battleground for user attention that has propelled tech giants to be the most valuable companies in the world, while the digital space becomes increasingly focused on luring users into unproductive online behavior focused on irrelevant eye grabbing content rather than value creation.

But as these practices become increasingly sophisticated, a new set of technologies are ready to take the main stage. These innovations  transform this one sided data economy into a vibrant marketplace, where data producers can decide what information should be accessed, used and traded, and more importantly, the benefits they receive in return.

Powered by blockchain technology, Web3 creates a new premise that enables true ownership of assets, and perhaps even more exciting, true ownership of data, which can also be turned into a lucrative asset.

Enter Itheum, The Fundamental Data Building Block Of The Metaverse

Itheum is a new startup, enabling data to be transformed into assets and traded in an open marketplace. Using blockchain technology, Itheum empowers its users to truly own their data and immediately benefit from its value to third parties.

In turn, these third parties get access to a more accurate and valuable set of data, which they can acquire with higher confidence about its value and at more attractive prices. This creates a self-sustainable market of data assets that can be leveraged to enhance virtually any business vertical that relies on information to operate and grow.

Going beyond the existing business landscape, Itheum’s vision is to leverage its capabilities for building the Metaverse in the right way. Using the valuable data assets it helps create in tandem with hyper-immersive technologies, Itheum creates a customized space for work, education, administration, business and entertainment, to take their most compelling forms.

With data representing the building blocks of the Metaverse, aligning the incentives between its builders and its users, an important milestone is unlocked, one that has the potential to shape the future of digital experiences.

Are Data Avatars our most valuable future treasure?

Now, take a second to think about this.

What if your entire experience on the internet and the Metaverse, was realized via your personal Data Avatar. A powerful filter, storing key preferred settings, special interests,  memorable experiences, and other relevant information, creating the most compelling version of the world for us.

What if this became one’s most important asset, and perhaps surprisingly, one’s most important recurring income stream.

Well, this is the time, and the technology is finally here. 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.

The path from Web 2 to Web3 is clear. But wouldn’t the internet be incomparably more powerful if experienced in a visual, immersive, world-like, uniquely customized form?

To make this a reality, Data Avatars are a fundamental building block we really need.

And Itheum is here to build them.

What will their value really be? Or, to put it differently, what would the value of a digital extension of yourself in the Metaverse be?

To be sure, realizing this full vision will take time to build. But still, one cannot deny these may be some of the most exciting and fascinating open questions of our time.

The answers, we’re just about to find out.


Itheum debuts on the Maiar Launchpad on March 28 - find out more about Itheum, the detailed launchpad schedule, and register here:

https://maiarlaunchpad.com/itheum


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Written by
Beniamin Mincu
CEO, Elrond Network