Itheum Lands Investment From Elrond Foundation, Mechanism Capital And Others As it Gears for Launch
Dubai, Dubai, 17th March, 2022,
Itheum is pleased to announce an investment from Elrond, Mechanism Capital, and other crucial investors in the crypto and blockchain space. The funding extends the earlier $1.5 million round funded by Morningstar Ventures which incubated Itheum via their Elrond Dubai Incubator.
Itheum continues to turn heads in the cryptocurrency and blockchain world. The data brokerage project for Web3 development has secured additional funding from numerous prominent VCs and investors. Itheum raised
The extra funding notes participation from the Elrond Foundation, Mechanism Capital, Ascensive Assets, Woodstock, Skynet EGLD Capital, ZBS Capital, MHC Digital Finance, and Spark Digital Finance. Thanks to this extra financial injection, Itheum has now raised $4 million in capital, enabling the team to push the boundaries of how personal data can be owned and traded in the Metaverse.
The new investments mark another significant milestone for the Itheum team. Additionally, Itheum recently partnered with Elrond to become part of its ecosystem through the Maiar Launchpad, bringing its service to more users and developers.
Mark Paul, Founder of Itheum comments on the news: It’s been an exciting few months for Itheum, with our web3 data technology establishing a unique value proposition for a decentralized, open metaverse. In a time when the world is concerned about data centralization and data exploitation, Itheum provides a much-needed opportunity for change – a vision that is shared by our amazing investors with whom we are glad to now share this journey.
Danilo Carlucci, CEO at Morningstar Ventures added: We are excited about this new batch of fresh investors that will help us support Itheum long term, and seeing them aligned with the strong conviction we have had in them, provides many opportunities.
Itheum lets users control their personal data as assets with the help of Elrond’s internet-scale blockchain technology. Data conversion to assets occurs via the NFMe-ID NFT technology, establishing “soulbound” Data Avatars to use in the Metaverse.
Enabling users to add a metadata layer to their avatars enhances the personal Web3 experience and unlocks a naturally recurring revenue stream for the Metaverse economy. Itheum’s go-to-market strategy in the highly hyped web3 gaming industry is also amassing strong interest, as they use their NFMe-ID avatar technology to spawn “player passports” that enable the millions of gamers around the world to own their player data and earn new income via an exciting “share-data-to-earn” dynamic.
More importantly, NFMe-ID technology is a crucial catalyst for end-user adoption of the Metaverse. Simultaneously, it allows data consumers to gain more valuable and accurate data sets at competitive prices, aligning the values of Web3 users and data consumers.
About Itheum
Itheum is the world’s first decentralized multi-chain data-brokerage platform powered by the Elrond blockchain. It has been in development for the last three years with a vision to unlock data silos created and closely guarded by Web2 organizations. Itheum’s team recognizes that data is a highly tradable asset with immense worth for its controllers and aims to help users own and trade their data in the Web3 and metaverse era.
Contacts
- Itheum
- [email protected]
- Will Bitcoin Rally as JPMorgan Tips Fed To End QT at FOMC Meeting?
- White House Crypto Czar Backs Michael Selig as ‘Excellent Choice’ To Lead CFTC
- Ripple Explores New XRP Use Cases as Brad Garlinghouse Reaffirms Token’s ‘Central’ Role
- Kyrgyzstan Adds Binance Coin (BNB) to National Crypto Reserve, CZ Confirms
- Ripple-Backed Evernorth Grows XRP Treasury to $1B Ahead of Nasdaq Listing
- Analyst Eyes Key Support Retest Before a Rebound for Ethereum Price Amid $93M ETF Outflows and BlackRock Dump
- Bitcoin Price Eyes $120K Ahead of FED’s 98.3% Likelihood to Cut Rates
- PEPE Coin Price Prediction as Weekly Outflows Hit $17M – Is Rebound Ahead?
- HBAR Price Targets 50% Jump as Hedera Unleashes Massive Staking Move
- Chainlink Price Outlook: Analyst Predicts $100 as Reserve Adds 63K LINK
- SUI Price Prediction as TVL and Monthly DEX Volume Hit All-Time Highs- What’s Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
