What Is Ecomi (OMI)?
Ecomi (OMI) is a blockchain-based platform to purchase, store, and collect licensed digital collectibles. Digital collectibles, according to the Ecomi website, are a new asset class that provides intellectual property owners with novel revenue sources in the digital space. Blockchain technology enables digital collectibles to be a unique asset that cannot be duplicated. Since these digital assets are registered to the blockchain, users can also verify ownership. The Ecomi platform seeks to provide two components, Ecomi Collect and Ecomi Secure Storage Wallet, in their ecosystem to enable the above-mentioned utilities.
According to the whitepaper, ECOMI Collect is a digital collectibles marketplace where users acquire, trade, and exchange licensed digital collectibles and other virtual goods in the form of non-fungible tokens (NFTs). The network combines with the Ethereumprotocol to solve the issue of low transaction speed and network congestion to achieve a viable DApp infrastructure.
The ECOMI Collect app (VeVe) enables users to become official owners of various brands and categories. The VeVe app caters to a variety of genres such as pop culture, gaming, TV, sports, and more, offering digital collectibles, in addition to brands such as Marvel, DC, and Star Trek. Further, the app hosts additional features such as virtual showrooms to enable NFT collectors to display their collectibles, augmented reality (AR) to enable the collectors to take a picture with the digital assets, and a secondary marketplace to trade with other collectors.
The second offering of the Ecomi platform is a storage wallet called Secure Wallet. The secure wallet is a wireless hardware cold storage device that is the size of a credit card that secures private keys. A cryptocurrency storage wallet that is not linked to the internet is called a cold wallet. The secure wallet protects the users’ digital assets from hackers because the wallet never connects to the internet. The wallet connects to the host device through an encrypted Bluetooth device (a smartphone). The wallet intends to allow users to perform activities like sending and receiving coins using a companion app.
OMI is the native token of the Ecomi ecosystem. The Ecomi Collect app utilizes the OMI token to facilitate the acquisition and trading of digital collectibles. Further, to facilitate trading for consumers who are not crypto-savvy, the platform intends to enable token acquisition using traditional plastic cards and in-app purchases. The token also intends to provide access to extra features within the Collect app.
History of Ecomi (OMI)
ORBIS Blockchain Technology Ltd operates and supports Ecomi, a Singapore-registered company. ORBIS is a New Zealand–based organization functioning in Auckland, Taipei, New York, and Shanghai. David Yu, Daniel Crothers, and Joseph Janik cofounded the company. The team released Ecomi’s whitepaper during the fourth quarter of 2018. The initial coin offering was also during the same year.
How Are New OMI Tokens Created?
According to the whitepaper, only 750 billion OMI tokens will be created, which the users may acquire during the ICO, via the Collect app, or on an exchange. These purchased tokens are later swapped to digital collectibles or NFTs. By minting a new NFT in Ecomi’s blockchain, new digital collectibles are created. After a new NFT is created, each NFT is assigned a unique URI (uniform resource Identifier) that connects it to a collection of information called metadata. This metadata contains the collectible’s name, brand, licensor, series, and references to the NFT’s numerous digital components (such as clothing, props, etc.). Subsequently, Ecomi hosts a publicly accessible format containing the metadata for the NFT’s URI.
The platform enables users of the Collect app to earn OMI tokens through in-app games. Users gain experience points, a variety of digital collectibles, and virtual products as they go through the platform’s gaming sessions.
