What's FOAF?
RDF (Resource Description Framework) / XML data about yourself, machine readable.
Whats it got to do with mIRC?
The 'address book' in mirc is kind of shabby, as has been pointed out previously - lacking features like the ability to automatically "get" a picture for a user and the like.
IRC is all about meeting people. Unless your strange and go on to talk to the spam bots. Slowly, bloggers who use irc are probably going to start doing tricks with FOAF too.
So why not give this a bash in mIRC? While its probably more appropriate for a script rather than mIRC itself, this would be interesting to see.