You may buy, sell, and exchange digital assets using the VeVe mobile app on ECOMI (OMI), a Singapore-based marketplace for digital collectibles centered on pop-culture properties. From DC Comics and Warner Bros. Entertainment to Marvel and Cartoon Network, ECOMI’s digital collections cover many of pop culture’s canonical properties.
ECOMI, frustrated by Ethereum‘s scalability problems and excessive gas prices, has released its native OMI token on the GoChain network and will conduct a private presale and initial exchange offering (IEO) during 2019.
With licensors including Marvel and DC Comics, Coca-Cola, and Citron, the Singaporean firm delivers A massive archive of media from the world of popular culture in the digital form established on the GoChain network. Compared to other NFT markets like OpenSea and Rarible, ECOMI stands apart because its digital assets are not compatible with external wallets; its collections are exclusive to the OMI wallet.
The ECOMI Secure Storage Wallet and the ECOMI Collect ecosystem (now called VeVe) make up ECOMI. VeVe includes the VeVe shop, a flea market, an augmented reality technology showroom, and a social feed.
VeVe has collaborated with brands including Batman, Superman, Harley Quinn, Ghostbusters, the NFL, and the MLB.
OMI tokens are a token of a utility tokens that can be spent on the VeVe marketplace to buy, sell, and trade digital items. By the same token, OMI guarantees a permanent ownership ledger for digital relics.
ECOMI’s chief executive officer is David Yu. He created his first company in 1996 and has subsequently founded several more in the retail and license space. Aside from me, Daniel Crothers and Joseph Janik are the original pioneers of ECOMI.
By integrating with VeVe’s social features, ECOMI lets its users purchase, sell, and show off their digital treasures. VeVe also has licensing agreements with some of the most recognizable names in the conventional collectors market, such as Batman and Wonder Woman, among many others.
Social media users, especially Reddit users, have voiced their displeasure with ECOMI that its tokens cannot be exchanged for real money. Also worrying to some is the widespread use of automated systems to purchase extensive collections.
Despite these problems, ECOMI has a sizable user base worldwide. By January, the platform switch to Ethereum’s layer-2 Immutable X protocol was complete. The OMI token was launched on the Bitmark-controlled exchange in March.
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ECOMI (OMI): tokenomics and utility
In terms of tokenomics, ECOMI’s token buy-back and burn mechanism is a positive feature.
Although the transaction flow is complex, it may be summarized as follows: whenever an OMI token is exchanged for another token on the primary market, an equivalent number of OMI is taken out of circulation. Roughly 10% of all firm sales go into buying ECOMI cryptocurrency on exchanges to maintain adequate cash levels within the app. This volume of transactions is being orchestrated to keep the OMI coin’s value from rising.
All token distribution and financial transactions on ECOMI are publicly viewable in the tables below. The following is a shortened version of the description: There are a total of 750 billion OMI in circulation; 20% were sold in private sales and an IEO; 40% are retained as liquidity for in-app activities; 20% are owned by advisers, developers, and board members; and 20% are earmarked for company growth.
Twenty percent of ECOMI’s supply was made available in a private presale and initial exchange offering (IEO) throughout 2019. Forty percent is set aside for use as currency on the VeVe app. The remaining twenty percent is distributed among the app’s creators, advisors, and board members. The remaining 20% is set aside for marketing and expansion efforts. To avoid token dumping, the corporation implements vesting periods.
The goal of ECOMI’s burn and buy-back approach is to keep deflationary pressure on the economy. The page goes into further detail, but the equal value of essential in-app purchases is burnt from the supply, increasing demand and price. In addition, 10% of the company’s direct sales income is used to restock in-app liquidity by acquiring OMI on the exchanges.
ECOMI (OMI): Value & Circulation
To prevent premature token dumps, a 12-month vesting time was created for tokens granted to the team, board, and advisers. Tokens given to the company’s founders, however, vest at 25% every quarter but have a 24-month cliff.
In the market now, there are 269.2 billion ECOMI tokens (approximately 36 percent of the maximum supply). According to statistics provider CoinGecko, OMI is now trading at $0.001408 with a market capitalization of $379.7m, making it the 102nd largest cryptocurrency by market cap.
The OMI token, which is utilized in the VeVe ecosystem for transactions, staking, and access to premium services, was made possible by blockchain technology. Tokens are based on the GO-20 standard, and there were 750 billion created. All tokens used to acquire fresh NFTs on VeVe are transferred to a closed intelligent contract address, removing them from circulation and burning them as a token.
ECOMI only ever releases its digital collectibles in numbered Series. For example, out of a possible 10,000 NFTs in a given Series, 62% may fall into the “Common” rarity category. In contrast, the remaining 1% or fewer could be classified as “Secret-Rare.” The NFT standard and blockchain technology make this a reality. Scarcity is a key factor in the appreciation of collectibles.
Blockchain technology’s anti-counterfeiting features are among their most desirable features when used in the production of digital collectibles. No need to be concerned about fakes. When using NFTs because each NFT is a uniquely produced asset registered in the blockchain and is related directly to the verified owner of the NFT.
The VeVe marketplace utilizes blockchain technology to make trading in-app digital collectibles simple. Users can engage in trustless, decentralized asset transactions with one another.
Because millions of dollars worth of digital assets are stolen annually, keeping your digital money, and private keys safe is more crucial than ever. The Secure Wallet is the first of its kind, a cold storage hardware wallet the size of a credit card that leverages industry-leading security.
ECOMI operates on the GoChain Blockchain, represented by the GO20 token. GoChain is both scalable and distributed, allowing for the use of dApps and smart contracts. It’s reasonably secure, and it’s backward compatible with Ethereum.
For Retail Investors
The yearly value of the virtual goods industry is $80 billion, which is a massive sum for something that has been there for a while. Additionally, there has always been a need for, and a supply of, collections like toys and paintings. The use of digital currency is still somewhat novel. The cryptocurrency business is poised for rapid expansion, with a predicted $100 billion value over the next few years.
As time goes on, the digital products market has the potential to become the next major economic force. This might potentially have applications in the many Metaverse initiatives now in development. Using digital treasures in the marketplaces, Facebook is developing for the metaverse might be a lucrative business move. It is anticipated that ECOMI may be tremendously lucrative in the coming decade, provided it continues to develop exponentially as the company targets new and emerging markets.
The apparent correlation between ECOMI and ADA, EOS, XEC, BAT, and FIL indicates that these cryptocurrencies will likely move in tandem. The OMI price will move opposite CDAI, THETA, EGLD, UST, and CUSDC. In contrast, ECOMI will move in the opposite direction of these currencies.
ECOMI has opted to use blockchain technology in several places throughout the VeVe platform. In the following, we’ll discuss each component that makes up the VeVe experience.
VeVe’s main draw is the ability to acquire digital collectibles, commonly known as non-fungible tokens (NFTs). The NFT standard’s verifiable digital scarcity, verified authenticity, and immutable evidence of ownership is only achievable because of the blockchain component. VeVe’s NFTs additionally allow extensive meta-data to be attached to each NFT. GoChain’s GO-721 protocol is used for VeVe’s NFTs.
How To Buy & Store ECOMI (OMI)
The VeVe app (previously known as ECOMI Collect) strives to be the premier destination for purchasing and trading in high-quality, officially licensed digital collectibles. VeVe has teamed up with various popular franchises, including Ghostbusters, Batman, the NFL, Superman, Major League Baseball, and Harley Quinn. There are several sections for different types of collectibles. Users may browse available artwork, then use NFT digital collectibles to make purchases, trades, or gifts. Distributed ledgers track the ownership of rare digital collectibles and ensure they are real. VeVe has integrated the OMI token and digital collectible NFT into the GoChain Network to maximize productivity and alleviate blockchain congestion.
Private keys can be stored safely in the Secure Wallet, a cold storage device. It’s a credit card-sized wireless device. Since the Secure Wallet never makes a direct connection to the internet, it is immune to harmful cyber-attacks. Using a secure Bluetooth connection, the user may sync the card with the app on their mobile device.
In the secure wallet’s e-paper screen, users may check their account balance and receive feedback. ECOMI Secure Wallet App is used for any other procedures. Users may control their private keys, check their cryptocurrency balances, examine their transaction records, and transfer and receive any of the supported cryptocurrencies.
ECOMI (OMI): Price History & Overview
On March 19th, 2021, during the start of the 2021 crypto bull run, OMI reached a new high of $0.013. Since then, OMI has been a volatile investment, with significant price increases followed by declines between July and October. The bottom line has steadily moved upward, from $0.001 in late June to $0.005 in late October 2021, notwithstanding these adjustments.
OMI rose over its 20-day moving average for the first time since January 2nd as trading activity increased. All OMI in the VeVe app was moved to layer-2 on January 18th, 2022, when Ecomi finished the in-app transfer of Omi. The next day, it hit a high of $0.0081 but steadily declined.
Investors who are thinking about making a transaction should study market movements first. As selling pressure on bitcoin persists, the whole altcoin market will probably feel the pinch. To avoid financial disaster, invest only what you can afford to lose.
ECOMI (OMI): Price Prediction
Predictions for 2022 indicate that the ECOMI price will stay at the $0.001 level. The site forecasts that after five years, one coin will be worth only $0.0001.
The study is 11% bullish (89% bearish) using 38 technical indicators. For May, ECOMI is forecast to lose value. The one-year projection for OMI is $0.00997, while the five-year forecast for OMI is $0.0324.
ECOMI (OMI) Price Prediction for 2023-24
In 2023, the price of one ECOMI is expected to range from a low of $0.002 to a high of $0.003. Meanwhile, our OMI price forecast places the average trading price for the year at close to $0.0025.
Forecasting models for ECOMI and OMI prices indicate that the lowest possible price for OMI is now $0.003. The highest price is allowed to be $0.005, with a 2024 average market price of roughly $0.004.
ECOMI (OMI) Price Prediction for 2025-29
Our ECOMI (OMI) price forecast for 2025 is between $0.005 and $0.009, based on the technical analysis of the coin’s potential future value. Also, by 2025, the average cost of a single coin may have dropped to just $0.007.
According to the model used to make predictions about the price of OMI, its lowest possible price is $0.008. In 2026, the most you may pay is $0.02, with the average remaining at $0.01. The ECOMI price prediction suggests that the coin’s value will rise in the future, albeit this growth may be slow. However, this in no way disproves the coin’s investment potential. It’s possible that, in the long run, investing at the current price will yield tremendous profits.
ECOMI (OMI) Price Prediction for 2030
Based on analyses of past trends, we can assume that the ECOMI (OMI) market price will settle somewhere around $0.05. We anticipate a range from $0.07 to $0.03 for prices. Before adding a new investment to one’s portfolio, that person must exercise caution.
Who developed the ECOMI algorithm?
Daniel Crothers, COO, and David Yu, CEO, established ECOMI. Each of them has its headquarters in the New Zealand city of Auckland. Yu is a specialist in retail and brand licensing, while Crothers has founded many successful businesses from the ground up.
Is ECOMI safe and secure?
ECOMI asserts that its platform is the most incredible way to acquire, store, and share a library of legally protected digital assets. CoinGecko has OMI at position #102. Even though VeVe was initially powered by GoChain (OMI as GO20 token), on December 14th, 2021, all VeVe NFTs were moved to Ethereum using Immutable X.
So, what exactly is ECOMI (OMI)?
Given the recent surge in the popularity of NFTs, ECOMI's NFT marketplace is the service for which it is most recognized. But the ECOMI ecosystem is more than that; the blockchain aims to provide consumers with a unified digital platform that addresses both digital economics and security.
Should ECOMI rise, what are the implications?
Gains are expected to be moderate next year but should go up in the following years. You should know that internet price forecasts are not a substitute for professional financial guidance.