April 24, 2022
min read

Building The Foundation For The New Data Driven Economy Of The Metaverse. The Elrond Research Thesis On Itheum

The digitalization waves sweeping across all business sectors have resulted in data being a key driver for business growth, and for the growth of the economy overall. With new data being generated at exponential rates, it is clear that a vast abundance of data is emerging as a significant opportunity to be explored.

Indeed, the transition of work, education and entertainment to the Metaverse is a megatrend which is predicated on the creative and instrumental use of data, to create a compelling set of personalized and meaningful experiences.

But the key questions remain. Who owns this vast amount of data? Who is allowed to use it? And who collects the money for this remarkable usage value exchange?

Data Avatars as the personal key to the Metaverse

Itheum’s invention of NFMe technology opens the door for the creation of a new data driven economy. By enabling anyone to represent their identity, assets, activities and interests as Data Avatars, this fundamental building block creates a much richer and compelling interaction.

This new form of digital ownership is made possible via blockchain technology, and enables everyone to truly own their data and extract considerable value from it. Perhaps even creating a recurring income stream.

As an effect, consumer and business data are about to fuse into a virtuous exchange cycle that will drive growth, and personalized experiences, with significant benefits for both groups.

Owning A Share in The Metaverse

The path from Web 2 to Web3 is clear. Wouldn’t the internet be significantly more compelling if experienced in a visual and personalized form?

All pieces are in place for building a compelling environment where adventure, exploration, and curiosity are elevated to unprecedented levels of uniqueness and relevance.

Data Avatars are a fundamental building block we need in order to make this a reality.

And Itheum is here to build them.

What will their value really be? How will we interact with them? How will our experiences change based on our defined filters and stored data?

These are the important questions to think hard about.

Owning a share in the technology enabling the next wave of value creation is ultimately an opportunity one cannot afford to lose.

Disclaimer: This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. Furthermore, this content is not directed at nor intended for use by any investors or prospective investors, and may not under any circumstances be relied upon when making a decision to invest.

About Elrond

Elrond is a new blockchain architecture, designed from scratch to bring a 1,000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 10,000 transactions per second (TPS), with 5-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.

About Elrond Research

Elrond Research is the strategic innovation lab of Elrond Network. Its mission is to identify and foster game changing projects building with internet-scale blockchain technology. With research and support provided by the very architects of the Elrond technology and ecosystem, every outstanding team gains a moonshot chance.

Author Profile Picture
Beniamin Mincu
Co-founder & CEO

Beniamin Mincu, the co-founder & CEO of MultiversX, is a distinguished tech visionary and one of Europe's early blockchain pioneers. With a notable background as Product & Business at Nem Core in 2014, he subsequently founded and led MetaChain Capital as its CEO. Beniamin continues to shape the future of technology and blockchain with his unwavering vision and leadership.

Published by
Author Profile Picture
Beniamin Mincu
Co-founder & CEO
Published on
April 24, 2022
Share this article