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"The LOOMIA TILE is a hardware device that transforms clothes into data-collecting and identity tools. It works in conjunction with the LOOMIA Electronic Layer (LEL), a soft flexible circuit embedded into textiles with the ability to sense changes in its environment, such as heat and touch. Users can transfer their data to a desktop application that allows them to manage and sell their data to market researchers. The app is completely serverless and leverages the blockchain for security and data integrity." (Whitepaper)
Main Positives
The native token will need to be utilised by users on Loomia's platform in order to access it and companies will need to use native tokens in order to buy data from vendors. Furthermore, Bancor will be integrated hence native tokens will be able to be exchanged to ETH and other tokens.
The company has gotten Microsoft on board for sponsoring their events. Furthermore, they have managed to get some industry recognition in the B2B sector. Gore-Tex is one of their partners.
The use of the raised funds through the ICO are very clearly explained. The team has a vision and are confident in their product. Always good to have people on the team that fully believe they can achieve their vision.
The team has worked on projects before for large companies such as Google, North Face, and PVH. Hence, they're chemistry should be very strong since they carried all these projects together.
Main Negatives
This tile they are offering which will be included within the layers of the clothes will have the owner's identity stored on it. Pieces of clothing get lost every time and some times you can't help it but forget your jacket the next morning after a steamy night at a stranger's house ;) That person can then have access to your identity and can potentially misuse it.
Let's be honest a piece of cloth with sensors inside that needs to be connected by the user to the desktop in order to retrieve the data and sell it to companies in order to get tokens. Most of the people would not be ready to make use of such technology and in my opinion it might take a few years until this becomes one of the norms in the fashion industry.
This is a physical product at the end of the day and if this doesn't do well then the company will suffer. The price of the tokens will reflected by the company's sales and marketing efforts. There is a chance that the product will not be well received by competitors or users. Hype will die then because it cannot sustain its hype through rumours and news like some tech. blockchain companies do.
Team Highlights
Marco Paul (Vice President of Operations & Supply Chain) - Has worked for many years at Avery Dennison and has advanced in ranks. He has experience in Global Branding Strategy and Product Development. Relevant experience.
Solomon Lederer (Blockchain Lead) - Was a software developer for Morgan Stanley and The Wall Street Journal. Furthermore, he founded a research and education company related to business with blockchains.
The Wrap Up
Flip: Bad | Long-Term: Medium
For further information and more information about this project go to the following:
Isee0s Review Spreadsheet: http://bit.ly/2jpOUHX
Telegram Isee0s Announcement Channel: @IseeOs
Telegram Isee0s Chat Group: @https://t.me/iseeos_reviews
The information provided is not to be construed as financial advice in any shape or form. You are strongly advised to conduct your own research before investing. As an investor, you are solely responsible for your actions. I cannot be held liable for any losses you may make. This information is simply my view and opinion on the subject.