There are many aspects of the Metaverse to consider when interacting with locations, avatars, and other facets. A data pipeline for Elrond's Metaverse is in development courtesy of Itheum. This new solution will positively impact the metadata for individual avatars and how it affects users.
Elrond Has A Strong Metaverse Push
People who kept close tabs on metaverse developments will know Elrond makes a big play in this space. Its network lends itself well to exploring such high-demand concepts due to high throughput and low fees. Moreover, Elrond's partnership with Holoride - an Audi spinoff - is a crucial indicator of what will happen in the years to come.
Holoride brings an in-vehicle mixed reality passenger entertainment technology to users. With the help of blockchain technology and non-fungible tokens, content creators and car manufacturers can tap into new opportunities. Additionally, the choice for Elrond brings more transparency to the ecosystem and introduces incentives for developers to create more platform content. The partnership with Holoride puts Elrond at the front and center amongst Layer-1 blockchains in the Metaverse space today.
However, when exploring Metaverse opportunities, data management remains a topic of debate. Handling all of this new information while empowering users seems straightforward, but that isn't always the case. Projects like Itheum, built on Elrond, explore the concept of Data-as-a-Service (DaaS) to enable developers and builders to enhance the overall user experience without compromises.
There is much excitement surrounding Itheum, which received $1.5 million in funding from Morningstar Ventures earlier this year. The project positions itself as a crucial Web3 building block. Its technology transforms data into assets, which you can trade over the Elrond blockchain. As a result, users own their data and benefit from its value to third parties. Eventually, Data Avatars will be established, a crucial asset and recurring income stream rolled into one.
Itheum Unlocks New Possibilities
When exploring and traversing the Metaverse, personalization and customization takes center stage. However, that is not possible without a proper data pipeline that tailors the overall experience to your preferences and needs. Itheum and its Data Avatars pave the way for new ideas, concepts, products, services, and interactions.
A power shift will occur throughout the transition from Web2 to Web3. The era of data harvesting will end and get replaced by a collaborative model with incentives for data producers and consumers. Elrond's scalable blockchain technology lets anyone manage their data as assets through Itheum. In addition, the new NFMe ID NFT technology allows users to add a metadata layer to their Metaverse avatar, introducing more accurate and valuable data assets.
Itheum will debut on Elrond's Maiar launchpad, a strategic platform for all projects leveraging the ecosystem's technology. There has been much anticipation regarding this IDO ever since Itheum secured its funding from Morningstar Ventures. The debut is scheduled for late March or early April 2022.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice