Built on Blockchain
Blockchain technology is among the cornerstone building blocks of Web3 platforms. Its distributed nature and cryptographic supremacy make it an imperative component of any Web3 platform, like ISITAS, that makes user data sovereignty and privacy a fundamental principle.
ISITAS will utilize blockchain technology in myriad ways, from validating identities, to smart contracts, to frictionless transactions via tokens and crypto.
Validating Identities
All identity-related data within the system will be encrypted using blockchain technology for a
tamper-proof verification of identity holders. This is important because ISITAS will be a strictly members-only platform on which bots, trolls, and hackers are not able to function.
Smart Contracts
Virtually every transaction among members/players on ISITAS platform will be mediated by smart contracts. Exchanges of tokens, products, services, data, actions, etc. are recorded privately and securely within the parameters of the associated smart contracts.
NFTs
Non-Fungible Tokens serve as the transactional mechanism to unlock the value of ISITAS. As members develop a platform for building consensus, and then proceed to use this tool, the value of the collected and curated shared knowledge and wisdom will accrue in accordance with the network effect. Members will be able to gain access to this collected wisdom via NFTs.
Each poll in ISITAS can be represented by an image or other media file submitted by Creators. These files can be minted as NFTs designed to grant the owner of the NFT various benefits, such as:
- Potential appreciation of the asset due to collectibility
- Access to all content associated with the NFT topic
- Access to all content that derives from the NFT topic
- Ability to resell access to topic content and derivatives as allowed
- Visibility into the history of the NFT
- Visibility into commentary about the NFT
- Ability to view and share image
- Ability to share is not passed on — only to view.
- Without permission, image is displayed as a link to the poll
Over time, the benefits available to owners of NFTs or fractions of NFTs can expand to include virtually anything — digital and physical — that we can collectively imagine.
For example, ownership of the NFT representing ‘Space’ could grant the owner access to any movie or other media related to space, as well as a trip into space with Virgin Galactic for anyone who owns n shares in the fractional NFT.
ISIT Tokens
ISIT Tokens are the native token of ISITAS, providing frictionless transfer of value within the platform. Tokens are earned by players for all forms of engagement with ISITAS platform and community. They can be spent, or redeemed, in basically three ways:
Redeem for Rewards
Earned tokens can be exchanged for a wide range of rewards
- Digital products and services
- Professional services
- Staple products
- All forms of merchandise
- Events
- Gift cards
- Lodging
- Transportation
Digital products and professional services will be procured in exchange for promotional consideration within ISITAS. For example, a life coach could offer access to their program in exchange for displaying their promotional material to a certain number of members. A player could then redeem ISIT tokens for that program.
Increasing in stages, merchandise will be acquired in bulk, including branded clothing, and be made available through a dedicated online storefront. Integrations with dropship companies and merchandisers of various types will eventually make ISITAS virtually autonomous.
As the stages progress and membership grows, the breadth of products and services available through ISITAS Exchange will expand from digital products and services, to essential products like clothing and household products, to useful products like tools and resources, to transportation, to recreational vehicles and equipment, to living accommodations to real estate, all available through the frictionless ISIT Game Exchange.
ISITAS community will hold special virtual and real-life events available to limited numbers of people. The cost of these events can be covered in part or in full by redeeming ISIT Tokens.
Members will also be able to redeem ISIT Tokens directly for ISITAS’s native currency: ITCoin.
Exchange for IT Coin
Once ISITAS has established a robust platform, a large community and a substantial treasury of value, we will also mint our own coin — IT Coin — as a fungible store of long-term value. Players will be able to exchange ISIT Tokens for IT Coin with zero friction, which can then be exchanged for other cryptocurrencies or USD through any leading exchange.
