Loomia is one of those ICOs with an idea that is completely new and revolutionary. So what are they doing? Well, simply put, the project is attempting to change the way our clothes interact with us.
The team has created the Loomia Tile, which is a hardware device that transforms our clothes into data-collecting and identity tools. This device works in conjunction with the Loomia Electronic Layer (LEL), which is a soft flexible circuit embedded into textiles with the ability to sense changes in its environment, such as heat and touch.
The devices also allow someone’s physical identity to be linked to their digital identity, and can be used to verify identity and facilitate secure payments passively and seamlessly, with no manual interaction or interface. The data that is collected from Loomia include performance, frequency of use, environmental conditions, location, and user habits.
This technology definitely has the potential to change the way we view, and use our clothes. I’m not the only one to have been impressed by this technology, as numerous media outlets have reported on Loomia. For example, Forbes, Yahoo, and Business Insider have articles on the project. Loomia CEO Janett Liriano even went on the NYSE to speak about the ICO —c heck out the video below.
The project also has an impressive list of partners. One of the partners is STORJ, which had a very successful ICO. Furthermore, the TILE Tokens from Loomia will be convertible to STORJ and Bancor.
The project was delayed a bit, and the ICO will take place soon in 2018. The delay was actually good news, because the sale was given the go-head to receive investments from US residents, and the team wanted time to reach out to the new demographic.
Make sure to go on to the project website to do your own research; I think everyone will find it highly impressive.