Loomia (Tile)

A device that transforms clothes into data-collecting and identity tools

About Loomia (Tile)

LOOMIA is developing a soft, flexible, durable, and washable circuitry layer that is intended to be embedded in the fabric of clothes in order to collect biometric data. Users will be able to share and/or sell this data to other parties on the LOOMIA data marketplace.

Token Sale Use of Blockchain

Product

3.8
Product
Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

3.0
N/A
3 - Prototype / MVP / alpha.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

4.0
N/A
4 - Captivating.
Target User Base

Is it mass market or niche?

4.0
N/A
4 - Large audience / wide market.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

4.0
N/A
4 - Few competitors / a leading solution.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

4.0
N/A
4 - Original, specialized.

Product

Currently, LOOMIA has working prototypes of the LOOMIA Electronic Layer (LEL) integrated with apparel. In particular, LOOMIA has demonstrated the use of LEL inside a boot, where the LEL is used to generate heat as well as collect data. LOOMIA also plans to create a data exchange or online marketplace where consumers will be able to buy/sell/share biometric data. Another product, the LOOMIA TILE (not to be confused with TILE tokens) is a device that will act as a hub where biometric data will be collected in one place. The LOOMIA team wishes to serve as a B2B organization, where the market for data collection is thriving.

Product Whitepaper

Use of Blockchain

3.8
Use of Blockchain
Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

3.0
N/A
3 - Automation; making something easier to do.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

5.0
N/A
5 - Fundamentally disruptive.
Need for a Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

3.0
N/A
3 - Issuing a custom token is justifiable.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

4.0
N/A
4 - Mostly decentralized.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

4.0
N/A
4 - Captivating.

Use of Blockchain

TILE is an ERC20 compliant token protocol. LOOMIA will implement a smart contract that will enable TILE tokens to be exchanged for STORJ tokens in order to utilize the STORJ platform without directly holding STORJ tokens. The STORJ platform will be used to store the biometric data that is collected from the LOOMIA product. TILE tokens will be used as currency on the TILE platform which provides access to services such as the data exchange. The platform aims to target the wearable tech market, which currently is in its early stages. Much of the value of the LOOMIA platform stems from the ability of users to sell their data to other parties.

Use of Blockchain Roadmap

Whitepaper

4.0
Whitepaper
Comprehensiveness

Does it cover the full scope of the problem and solution?

4.0
N/A
4 - Satisfactory coverage, well written.
Readability

Is it easy enough to understand?

4.0
N/A
4 - Easy to read and understand.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

4.0
N/A
4 - Informative disclosure.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

5.0
N/A
5 - Thorough, viable, convincing, promising.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

3.0
N/A
3 - More information required.

Whitepaper

The whitepaper is professionally written and concise. It is focused on discussing the business and product development. Development is discussed on a logistical level and not on a technical level. Overall the the whitepaper has a good balance between comprehensiveness and concision.

Whitepaper Compliance

Roadmap

2.8
Roadmap
Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

2.0
N/A
2 - Vague, noncommittal.
Feasibility

Is the development plan realistic? Is it based on reasonable goals and timelines?

4.0
N/A
4 - Realistic.
Vision

Is there a larger, long-term vision?

4.0
N/A
4 - Long term.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

2.0
N/A
2 - Not fully available or trustworthy.
Current Position

Where is the project now, relative to its vision and plans?

2.0
N/A
2 - Critical obstacles ahead.

Roadmap

Development of LOOMIA is categorized into three categories: the platform, the TILE token, and LEL. There is a low level of detail, with milestones shown on the roadmap grouped on a yearly basis. More milestones should be included, especially those that are focused on the technological development of the LOOMIA platform.

Roadmap Company and Team

Compliance

2.6
Compliance
Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

3.0
N/A
3 - Limited or uncertain use cases.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

3.0
N/A
3 - Partly; compliance not fully assured.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

1.0
N/A
1 - Nothing yet, just an idea.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

3.0
N/A
3 - Limited to blanket standard.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

3.0
N/A
3 - Semi-professional (e.g. Howey Test)

Compliance

It is stated that the LOOMIA Electronic Layer (LEL) is made to comply with industry standards. The technical specification sheet for the proposed product is available and includes information such as abrasion resistance, thickness, operating temperature range, and much more. LOOMIA will incorporate KYC into their token sale.

Compliance Token Sale

Company and Team

2.4
Company and Team
Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

2.0
N/A
2 - Initial stages of formation.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

3.0
N/A
3 - Minimally sufficient.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

2.0
N/A
2 - Lacking in key areas.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

3.0
N/A
3 - Correlated to project requirements.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

2.0
N/A
2 - Somewhat skewed.

Company and Team

Information regarding the LOOMIA team (6-8 people) can be found on their website. A short description is available for the three C-level executives and LinkedIn profiles are provided for the rest of the team. The skill set of the team is primarily geared towards business and product development. It appears that only one team member has experience developing within the blockchain ecosystem.

Company and Team Product

Token Sale

3.0
Token Sale
Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

3.0
N/A
3 - Justifiable.
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

1.0
N/A
1 - None or nonsensical.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

4.0
N/A
4 - Well defined and reasonable.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

4.0
N/A
4 - Most tokens sold, vesting periods on kept tokens.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

3.0
N/A
3 - Some presence, lukewarm reception.

Token Sale

The total number of TILE tokens is 1.046 billion (65% is for sale, 15% is for the development team, 15% is for brand partners, 5% for advisors, and 5% for third parties). There are no restrictions as to who is able to participate in the public token sale, including individuals from United States. The hardcap is $30MM USD for the public sale which takes place in Q1 2018 (TBA).

Product

Currently, LOOMIA has working prototypes of the LOOMIA Electronic Layer (LEL) integrated with apparel. In particular, LOOMIA has demonstrated the use of LEL inside a boot, where the LEL is used to generate heat as well as collect data. LOOMIA also plans to create a data exchange or online marketplace where consumers will be able to buy/sell/share biometric data. Another product, the LOOMIA TILE (not to be confused with TILE tokens) is a device that will act as a hub where biometric data will be collected in one place. The LOOMIA team wishes to serve as a B2B organization, where the market for data collection is thriving.

Category Breakdown
Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

3.0
N/A
3 - Prototype / MVP / alpha.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

4.0
N/A
4 - Captivating.
Target User Base

Is it mass market or niche?

4.0
N/A
4 - Large audience / wide market.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

4.0
N/A
4 - Few competitors / a leading solution.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

4.0
N/A
4 - Original, specialized.
Product Score:
3.8

Use of Blockchain

TILE is an ERC20 compliant token protocol. LOOMIA will implement a smart contract that will enable TILE tokens to be exchanged for STORJ tokens in order to utilize the STORJ platform without directly holding STORJ tokens. The STORJ platform will be used to store the biometric data that is collected from the LOOMIA product. TILE tokens will be used as currency on the TILE platform which provides access to services such as the data exchange. The platform aims to target the wearable tech market, which currently is in its early stages. Much of the value of the LOOMIA platform stems from the ability of users to sell their data to other parties.

Category Breakdown
Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

3.0
N/A
3 - Automation; making something easier to do.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

5.0
N/A
5 - Fundamentally disruptive.
Need for a Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

3.0
N/A
3 - Issuing a custom token is justifiable.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

4.0
N/A
4 - Mostly decentralized.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

4.0
N/A
4 - Captivating.
Use of Blockchain Score:
3.8

Whitepaper

The whitepaper is professionally written and concise. It is focused on discussing the business and product development. Development is discussed on a logistical level and not on a technical level. Overall the the whitepaper has a good balance between comprehensiveness and concision.

Category Breakdown
Comprehensiveness

Does it cover the full scope of the problem and solution?

4.0
N/A
4 - Satisfactory coverage, well written.
Readability

Is it easy enough to understand?

4.0
N/A
4 - Easy to read and understand.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

4.0
N/A
4 - Informative disclosure.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

5.0
N/A
5 - Thorough, viable, convincing, promising.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

3.0
N/A
3 - More information required.
Whitepaper Score:
4.0

Roadmap

Development of LOOMIA is categorized into three categories: the platform, the TILE token, and LEL. There is a low level of detail, with milestones shown on the roadmap grouped on a yearly basis. More milestones should be included, especially those that are focused on the technological development of the LOOMIA platform.

Category Breakdown
Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

2.0
N/A
2 - Vague, noncommittal.
Feasibility

Is the development plan realistic? Is it based on reasonable goals and timelines?

4.0
N/A
4 - Realistic.
Vision

Is there a larger, long-term vision?

4.0
N/A
4 - Long term.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

2.0
N/A
2 - Not fully available or trustworthy.
Current Position

Where is the project now, relative to its vision and plans?

2.0
N/A
2 - Critical obstacles ahead.
Roadmap Score:
2.8

Compliance

It is stated that the LOOMIA Electronic Layer (LEL) is made to comply with industry standards. The technical specification sheet for the proposed product is available and includes information such as abrasion resistance, thickness, operating temperature range, and much more. LOOMIA will incorporate KYC into their token sale.

Category Breakdown
Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

3.0
N/A
3 - Limited or uncertain use cases.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

3.0
N/A
3 - Partly; compliance not fully assured.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

1.0
N/A
1 - Nothing yet, just an idea.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

3.0
N/A
3 - Limited to blanket standard.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

3.0
N/A
3 - Semi-professional (e.g. Howey Test)
Compliance Score:
2.6

Company and Team

Information regarding the LOOMIA team (6-8 people) can be found on their website. A short description is available for the three C-level executives and LinkedIn profiles are provided for the rest of the team. The skill set of the team is primarily geared towards business and product development. It appears that only one team member has experience developing within the blockchain ecosystem.

Category Breakdown
Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

2.0
N/A
2 - Initial stages of formation.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

3.0
N/A
3 - Minimally sufficient.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

2.0
N/A
2 - Lacking in key areas.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

3.0
N/A
3 - Correlated to project requirements.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

2.0
N/A
2 - Somewhat skewed.
Company and Team Score:
2.4

Token Sale

The total number of TILE tokens is 1.046 billion (65% is for sale, 15% is for the development team, 15% is for brand partners, 5% for advisors, and 5% for third parties). There are no restrictions as to who is able to participate in the public token sale, including individuals from United States. The hardcap is $30MM USD for the public sale which takes place in Q1 2018 (TBA).

Category Breakdown
Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

3.0
N/A
3 - Justifiable.
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

1.0
N/A
1 - None or nonsensical.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

4.0
N/A
4 - Well defined and reasonable.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

4.0
N/A
4 - Most tokens sold, vesting periods on kept tokens.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

3.0
N/A
3 - Some presence, lukewarm reception.
Token Sale Score:
3.0

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