Itheum Ico Review: It Is Legit Or Scam Ico?

About Itheum Ico

Itheum Ico is the world’s 1st decentralized data brokerage platform that transforms your personal data into a highly tradable asset class. It provides Data Creators and Data Consumers with the tools required to “bridge” highly valuable personal data from web2 into web3 and to then trade data with a seamless UX that’s built on top of blockchain technology and decentralized governance. Itheum is a startup, enabling data to be transformed into assets and traded in an open marketplace.

They provide the end-to-end platform required for personal data to be made available in web3 for the first time in history and to enable many more wonderful and complex real-world use cases to enter the web3 ecosystem. Itheum provides the core, cross-chain web3 protocol required to enable personal data ownership, data sovereignty, and fair compensation for data usage – and this positions Itheum as the data platform for the Web3 and Metaverse Era.

Token Basic Information

Core Products

Itheum has 3 Core Products that work in unison to enable new data to be generated and collected from the web2 world and for that data to then flow seamlessly into the web3 domain (via our Data CAT – Collection & Analytics Toolkit). This data can be claimed by the Data Creators (users who originally generated the data) and traded using our innovative peer-to-peer data trading technology (via our Data DEX).

For a platform like Itheum to reach its highest potential it also needs to have mass adoption (more users = more data = more data trade) – they aim to achieve this via the final core product (called the Data Metaverse) – where they provide “viral”, “sexy” and “low barrier to entry” consumer products that will appeal to the masses and in-turn fuel mass adoption.

Data Collection & Analytics Toolkit (Data CAT)

Anyone can use Itheum’s Data CAT to seamlessly build apps and programs that can collect structured and rich personal data from users and also provide visual trends and patterns on the collected data (usually using fully anonymous or semi-anonymous analytics to protect the “Data Creator” — i.e. the user who generated the original data)

With this product, Itheum provides real-world value and adoption — and in return, they generate highly structured and outcome-oriented personal datasets (i.e we normalize what user data looks like across organization silos)

Decentralized Data Exchange (Data DEX)

This product enables you (the Data Creator) to own and trade the personal data which was collected by the organizations who built apps on Itheum’s Data CAT product. It unlocks the personal data from these organization silos and lets you trade your data on the open market with organizations and agencies that can derive value from these previously locked datasets.

So in those same examples given above:

1. If you use that health and wellness company’s app; you get to own your data and then trade the health and wellness data you collect as part of your subscription to that app by using the Itheum Data DEX.
2. If you use that financial organization product; you get to own your behavioral data and trade it as you choose with anyone else on the Itheum Data DEX.

Data Metaverse

The concepts behind data trading and blockchain-backed data technology can be overwhelming for most people to grasp. This is a key reason why many of the current web3 data platforms have very low adoption and hype. For platforms such as Itheum to change the dynamic of data ownership we need large-scale bottom-up adoption – and this kind of adoption can only come if we build consumer products that “everyone wants to use”.

The challenge for Itheum was to take “serious and complex ideas around data ownership” and abstract them with “sexy and easy-to-use consumer products”. They knew that if we achieve this they can drive large adoption for our platform and in turn normalize the complex concepts around data ownership and trade. In turn; Itheum gets a large user base to test our core protocol layer and to increase the volume of data available for decentralized data trade.

The key products that form our Data Metaverse ecosystem are

1. NFMe ID (Non-Fungible Me ID)
   Every person on earth can be thought of as a “non-fungible human”, as we have data that is unique to each one of us (like our DNA or even our fingerprints – which are non-fungible). NFMe ID is a digital avatar identity that is built on dynamic NFT technology and backed by real personal data. Everyone in the world can mint an NFMe ID on Itheum’s platform and “truly own” it. As more data is collected by the “NFMe ID host” and pushed into the NFMe ID; more “accessories” are minted and linked to the NFMe ID.
2. These accessories are NFTs themselves and can be freely traded. NFMe ID avatars are the next generation “Profile Picture NFT” and/or gaming avatars and the goal is to have it evolve into being a universal avatar for each human on earth. They will be portable in the real-world and interoperable in all web2 and web3 metaverse platforms (e.g Meta, The SandBox, Axie Infinity, Decentraland); backed by real value (in the form of personal data), and powered by true ownership (NFT technology)