LOOMIA, a New York-based technology company bonding intelligence to textiles for apparel, soft goods, consumer and industrial applications, has today announced its upcoming Token Generation Event (TGE) for an Ethereum-based ERC-20 token called TILE. The token crowdsale is expected to commence this fall.
LOOMIA intends to use the proceeds from the TGE to progress the development of the LOOMIA Platform, making its LOOMIA Electronic Layer, LOOMIA Tile, and LOOMIA Data Exchange available to consumers and brands alike. LOOMIA’s technology has been integrated by clients such as Google, The North Face, Zac Posen, and Calvin Klein.
The LOOMIA Electronic Layer, LOOMIA Tile, and LOOMIA Data Exchange will be designed to operate concurrently in an ecosystem that allows users to collect data and sell it to brands and consumer research firms.
The LOOMIA Electronic Layer is a thin layer of circuitry bonded to everyday objects such as clothing, car interiors, handbags, and office furnishing. It brings functionality to everyday objects by collecting data from consumer habits, including frequency of wear, location, level of activity, and temperature. It then stores this information on a hardware component called the LOOMIA Tile.
Through LOOMIA’s innovative use of Blockchain and integration of biometric security, consumers will be able to control access and profit from data they generate and build a secure, anonymous digital identity on the LOOMIA Data Exchange.
LOOMIA CEO Janett Liriano said:
“LOOMIA is creating a bridge between digital intelligence and the physical materials that we interact with every day. The LOOMIA Platform would shift the consumer data paradigm so that individuals, not corporations, own their personal data and profit from it if they choose.”
LOOMIA is led by Liriano and Founder and Technical Lead Madison Maxey. Maxey has been featured on Forbes’ “30 Under 30” list and was recognized as a 2013 Thiel Fellow, a coveted two-year program for entrepreneurs.
Liriano is a technical and creative expert who has previously served as a master electrician and production lead at the Lincoln Center, and an engineer for simulation centers at international medical schools.
LOOMIA’s core team members and advisors include Ezgi Ucar, Director of Product Development; Marco Paúl, VP of Operations and Supply Chain; Paul Raffin, a former executive at J. Crew and The Frye Company; and Solomon Lederer, a former software developer at Morgan Stanley and an advisor to Ethereum.
LOOMIA Founder and Technical Lead Madison Maxey said:
“Consumers are increasingly spending time on and around connected devices such as the phones in their pockets or the appliances in their homes. LOOMIA set out to network the products we love, giving power to users for the data they create, as well as an opportunity to earn value. LOOMIA envisions a world in which these once ‘dumb’ materials — consumer goods — actually work for the consumer, and that vision will now become a reality with the LOOMIA Platform.”
“Together with our Blockchain partners and advisors, we are building an end-to-end solution to bring Blockchain to mainstream consumers. We see this revolutionary technology offering a widespread solution to day-to-day inconveniences we all experience. This is an application of the Blockchain that can seamlessly and securely connect consumers’ digital identity to their physical counterparts,” added Liriano.