What is Loom free?

Could you elaborate on what Loom free specifically refers to? I've heard the term mentioned in the cryptocurrency and blockchain community, but I'm not entirely clear on its definition and applications. Is it a type of cryptocurrency, a service, or a feature? How does it work, and what are its main benefits? Is it available to everyone, or are there certain requirements to access it? Understanding the intricacies of Loom free would help me gain a deeper insight into the cryptocurrency and blockchain landscape.