From before you’re born, you have a history, a background. And that background is defined by various pieces of data that represent you, personally.
Your Data. You and your life, your personal self, are much more than data. Data alone does not and cannot fully define and represent you, nor can it predict precisely what you will do next or how your life will unfold.
Nevertheless, data connected to you is often used to guess what things you may want to buy, how successful you will be, and even when you will die.
Data is Big Business. Moreover, the collection of data about you is a very big business. We live in a time when nearly everything, every event, and everybody is on camera, being tracked by GPS, every purchase, every relationship, and much, much more is collected, analyzed, processed, summarized, and monetized.
Is this bad? Not necessarily in every case. It’s convenient to get video recommendations based on what you’ve already watched. It’s helpful to get a reminder about an upcoming appointment, a prescription to refill, or a friend’s birthday. It’s nice to be offered a loyalty discount.
But there can be negative consequences. Sometimes, people, companies, agencies, and other entities misuse the data collected by surreptitiously following you, attempting to get your personal information without legitimate cause, and worse.
Monetizing You. There’s another way your data can be misused though. And that is by not paying you your fair share of the earnings from your data. After all, a reasonable person would say a company you buy a cup of coffee from really only has an interest in the record of the transaction. Everything about the transaction related to you should be your data, owned only by you.
And you should be able to benefit financially from the data about your side of the transaction too.
The vast majority of entities you deal with have found many ingenious ways to profit from your data, many of them having a tenuous relationship to company you originally did business with.
Monetizing Yourself. So when was the last time you saw a fair payment for your share of those profits?
Some estimates assign a very low value to this data, less than a penny.
But consider that leads are often individually sold for $20, $50, or much more, depending on the circumstances. And the more accurate those leads are, the more they are worth.
A better estimate of the value of your data should be a percentage of the value of all the transactions and other events of your life. Certainly companies calculate these values. In business, the marketing cost to reach one customer (new or existing) for their next sale, the “lifetime value” of a customer, and the potential ability to incentivize them to stay loyal when they might be thinking of trying a different product, can be very valuable.
Automating the Process. And with modern technology, there’s no reason why you can’t automatically collect and safeguard your information, and use it to your advantage every time it has value to someone or something else.
Keeping it Completely Private. Moreover, there are new technologies available that can safeguard your data while at the same time still allowing you to monetize it.
Your Personal NFT. And that’s where the Personal NFT come into play.
Our goal is to provide you with a fully automated system for:
- Collecting, categorizing, and summarizing your data
- Safeguarding and encrypting your data even when it is shared with others
- Allowing you to share data associated with you (and earn the rewards, money, and perks you deserve) without giving away your personal data.
To Do Now. For the moment, we encourage you to add to your Personal NFT only a few bits of information that are already widely known (name, email, phone) and even then nothing will be revealed without your consent, and the data will only be used to service your account.
Coming Soon. Meanwhile, our technical team is hard at work building out the Personal NFT data structures and capabilities so give you the full potential to manage and benefit from your own personal data for your entire life.