Itheum

Itheum operates as a decentralized, multi-chain data brokerage platform, positioning itself as a core infrastructure layer for the artificial intelligence and metaverse ecosystems. The company was founded in 2016 by co-founders Mark Paul and Praveen Paul. Mark Paul, the CEO, brings over two decades of tech expertise from roles at companies like MSN and in the Australian health sector, including work on the COVID-19 digital response program. His technical background in computer science, AI, and blockchain, which he has been involved with for over six years, underpins the company's technological direction. Praveen Paul, the COO, has a 20-year background in software startups and scaleups, leveraging his electrical engineering qualifications to build and grow technology businesses globally before joining Mark in 2020, driven by a shared interest in data ownership.

The firm's primary business is to empower individuals and enterprises to own, control, and trade their data. It addresses the challenge of data being locked in centralized silos by transforming personal data into a tradable asset class. The business model is centered on its decentralized data exchange (Data DEX), which facilitates peer-to-peer trading of data. Revenue is generated through protocol fees on each data trade. The company serves a diverse client base, from individual data creators like gamers and musicians to enterprises and AI developers seeking high-quality, consented data. Initially focused on healthcare, Itheum's vision evolved to broader data ownership, securing incubation and funding from Morningstar Ventures in 2021, which led to its IDO on the MultiversX (formerly Elrond) blockchain in early 2022.

Itheum's core product revolves around tokenizing data using the NFT standard to create 'Data NFTs'. These are not static images but dynamic assets linked to real-world data streams, allowing for the bundling, licensing, and trading of data with an immutable record of provenance and ownership. A key feature is the NFMe (Non-Fungible Me) ID, a customizable digital avatar and decentralized identity layer that represents the user and their data reputation. Users can also participate in Data Coalition DAOs, which are decentralized autonomous organizations that aggregate and curate bulk data for trading with larger entities like AI companies, ensuring fair compensation for providers. To incentivize participation and ensure data quality, the platform uses a reputation system called 'Liveliness' and a points system (BiTz XP) that converts to the native ITHEUM token. The platform is designed to be omni-chain, aiming for interoperability across various blockchain networks to enhance scalability and adoption.

Keywords: decentralized data brokerage, Data NFTs, data ownership, Web3 data platform, AI data economy, metaverse data, NFMe ID, data tokenization, peer-to-peer data trading, blockchain data infrastructure, Mark Paul, Praveen Paul, data sovereignty, omni-chain, data monetization, crypto data, decentralized identity, Data Coalition DAOs, MultiversX, personal data marketplace