ECOMI is a Singapore-based technology company supported and operated by the ORBIS blockchain. ORBIS is a decentralized blockchain platform that facilitates efficient and secure digital transactions.

ECOMI aims to create a world-class digital platform that allows web3 users to purchase, collect, and trade digital collectibles. Digital collectibles are unique digital items or assets that can be owned and traded on online platforms via blockchain technology.

History of ECOMI

ECOMI was founded by David Yu, Daniel Crothers, and Joseph Janik in 2017. Using blockchain technology, its founders aimed to create an engaging and interactive digital platform that allowed users to own and trade digital collectibles decentralized.

This platform was initially called ECOMI Collect. However, Alfred Khan, the organization’s head of licensing, eventually renamed it VeVe. This strategic overhaul sought to amplify VeVe’s brand presence and consistency across all channels.

ECOMI is the issuer of the OMI token and the company behind the creation of the VeVe platform. VeVe, formerly known as ECOMI Collect, is an application developed by ECOMI. It is a platform where digital collectibles can be bought, sold, and traded. The OMI token is the native currency of the ECOMI digital ecosystem; it is used on the VeVe platform to buy, sell, and trade digital collectibles.

In 2018, the founders released ECOMI’s whitepaper, which outlined its technology, visions, and plans. Its release was closely followed by its initial coin offering (ICO) launch later that year.

An ICO is a fundraising activity that helps blockchain companies raise funds for their projects. While funds were raised for the ECOMI blockchain project, it secured partnerships with 15 brands.

In 2019, ECOMI launched the beta version of VeVe. Early users could test the app and provide the ECOMI development team feedback. The responses and feedback greatly helped the development team improve VeVe, as the first version, made available to the general public, was launched in 2019.

To ensure users got the most benefits from their interaction with the platform, the development team added some extra features to VeVe. These features included Augmented reality (AR), scene creation, and in-app gamification. The second version with improved capabilities was also released that year.

The ECOMI Team

With its headquarters in Singapore, ECOMI is a digital collectible platform with about 30 members. The team aims to create a digital platform allowing users to create and trade digital collectibles. An interesting thing about the ECOMI team is that its founders, David Yu, Daniel Crothers, and Joseph Janik, ran successful businesses before coming together to create ECOMI.

David is a successful Auckland-based businessman with over 21 years of experience in the retail industry. He specializes in transforming licenses into brands.

He co-founded Games R Us Limited and Retail Management Group Limited and earned several entrepreneurial awards. In 2014, Deloitte ranked Retail Management as the 12th fastest-growing company in New Zealand.

Daniel is a successful entrepreneur who has founded several successful startups, including Digitalus, a web agency that services international clients like Hasbro and The Red Cross, and HERB, a US media company that has gained millions of social media followers. Joseph is an Australian entrepreneur who has been involved in several successful businesses.

How Does ECOMI Work? NFT Minting, NFT Identification, and Ownership Transfer

NFT Minting

Before a digital collectible can exist on VeVe, an NFT has to be minted in the ECOMI blockchain smart contract. While digital collectibles are closely related to NFTs, it is important to note their differences. Digital collectibles are the digital assets in the VeVe ecosystem that users can purchase, trade, and interact with. On the other hand, NFTs are certificates representing ownership of these digital collectibles.

NFT Identification

After the NFT is minted in the ECOMI smart contract, it is provided with a uniform resource locator (URL) that links it to a set of metadata. This metadata often contains information about the collectible’s name, licensor, brand, and series.

Series are the batches in which digital collectibles are released. A series can consist of thousands of digital collectibles and is often divided into five categories, ranging from the “common” series, which represents 62% of the digital collectibles in a batch, to the “secret-rare” series, which represents 1% of the digital collectibles in a batch.

Ownership Transfer

After the NFT is minted and linked to the metadata (which contains information about the collectible), its ownership is then sent to a wallet address assigned to ECOMI for security and management on behalf of the owner. Once a user gains ownership of the digital collectible, he can choose to trade or sell it directly to other users within the network.

Features of ECOMI: VeVe and Secure Storage Wallet

VeVe

VeVe or ECOMI Collect app, is a cross-platform (mobile, desktop, web) application that allows users to buy, sell, and trade digital collectibles and other virtual assets in the ecosystem. To use and explore VeVe, users must register and sign up using their email addresses.

During the registration or signup process, users are often asked to choose specific brands and interests, which is essential as it helps VeVe create and show users personalized content that piques their interests.

Secure Storage Wallet

The secure storage wallet is a wireless, credit-sized, hardware cold storage wallet that keeps users’ digital collectibles safe and secure and protects their private keys. Since it is not connected to the Internet, it is designed to withstand online attacks.

The secure storage wallet uses the common criteria evaluation assurance level 5+ (CC EAL5+) security standard. To put this into perspective, the CC EAL5+ is a high-level security standard used by most banks and financial institutions. To interact with the secure wallet, ECOMI users must download the Companion app from either Google or Apple Playstores.

The main features of the secure wallet

• Top-of-the-line security.
• True cold wallet that never connects directly to the internet.
• Full loss recovery and restoration.
• Everyday convenience.
• Supports Bitcoin and other cryptocurrencies.

What can users do with the secure wallet?

With the secure storage wallet, users can;

• Maintain full control over the transfer of private keys in and out of the secure wallet.
• Securely store and manage Bitcoin and other cryptocurrencies.
• See all cryptocurrency balances.
• View transaction history.
• Create up to five individual accounts per cryptocurrency.

The secure wallet also has a robust restoration capability. During the setup of the secure wallet, a recovery seed phrase is often generated for users. Users are to write this seed phrase in the recovery card supplied with the secure wallet and keep it in a safe place.

If users lose their secure wallet or if it is stolen, they can purchase a replacement wallet, pair it with the host device, and enter the recovery seed phrase to restore their private keys.

Features of VeVe: Secondary Marketplace, Augmented Reality, Showroom, Scene Creator, Show Wall, Store, In-App Gamification, In-App Wallet

Secondary Marketplace

The secondary marketplace is a digital marketplace in the VeVe ecosystem where users can connect, buy, sell, and trade digital collectibles. Digital collectibles can be sold in the secondary marketplace at a fixed price or through a seven-day auction in which the seller sets a reserve that must be met to complete the auction.

The secondary marketplace also has a personal watchlist feature that allows users to monitor digital collectibles in the marketplace and an inspect feature that allows users to inspect collectibles and view information about them, such as their previous owners, purchase history, value over time, edition number, and licensor.

Augmented Reality

Augmented reality (AR) is an exciting feature of VeVe. Users can project digital collectibles into the real world using the integrated AR tools via the VeVe platform.

VeVe’s augmented reality tools make digital collectibles look like real-world objects where users can move around, interact, and engage in gaming experiences. The AR tools also allow users to customize their digital collectibles in whatever ways they want.

Showroom

The showroom is a place in VeVe where users can show off their digital collectibles for other users to see. A showroom can be made either private or public. If it is public, other users can view it and share it across major social media platforms.

A showroom can also be customized. A user can select whatever layout and background images he wants for his showroom and choose the type of collectibles displayed.

Scene Creator

The scene creator is a feature of VeVe that allows users to creatively build their own scenes using digital collectibles, props, accessories, and background images. Thus, users can visually create their 3D environments.

There is an easy-to-use 3D visual editor that can be used to create highly visual 3D environments. Users can also adjust the lighting and the camera view angle to create visually appealing scenes.

These scenes can be shared on the ECOMI collect social wall and across social media platforms. They can also be viewed and experienced using the augmented reality tools integrated into VeVe.

Show Wall

The show wall, or Show ‘n’ Tell, is a feature of VeVe that allows users to connect and interact with other users within the platform. The social wall will enable users to share their digital collectibles, scenes, and other digital assets in the ECOMI marketplace.

The social wall also displays personalized content that appeals to ECOMI users’ tastes and interests. Users can like, share, and comment on any digital collectible they like.

Store

There is a store in VeVe where digital collectibles are organized into brands and categories. Users can search and filter through digital collectibles in a store, helping them browse and purchase the digital collectibles they seek.

The store also has a store data profile that keeps data on the digital collectibles users must have viewed and interacted with in the past. With this data, the ECOMI platform brings personalized digital collectible suggestions that appeal to users’ desires.

When a digital collectible is finally purchased, it is removed from the store, and ownership is transferred to the purchaser.

In-App Wallet

Within VeVe, an in-app wallet is usually generated when a user sets up an ECOMI account. The in-app wallet holds the user’s tokens and digital collectibles.

Users can see their token and staked token balances from the in-app wallet, purchase new tokens, and view their transaction history. The wallet can also be used together with the digital hardware wallet.

In-App Gamification

VeVe has an in-app gamification feature that allows users to interact and play with their digital collectibles, creating a much higher level of engagement. Thus, a user who owns a digital collectible can access and play the in-app AR games, which have multi-player settings that allow users to play with each other.

Exploring VeVe: Photo Editing, Showroom Accessories, and VeVe Comics

Photo Editing

Source: Medium.com

To help users create the best photos, the VeVe app has photo editing tools that allow users to customize their images and create the best photos. Users can crop, zoom, and rotate their photos. The photo editing tools also allow users to adjust their photos’ brightness, saturation, clarity, shadows, and highlights.

To enhance the visual appeal and impact of images, photo editing tools also allow users to add filters from a huge library of effects and add text in various fonts, sizes, colors, and effects.

Showroom Accessories

Source: Medium.com

Collectors love creating the perfect setup for their collectibles and choosing the best and most appealing base, spot, or shelf to place them. Therefor, ECOMI added showroom accessories that make this easy for collectors.

The showroom accessory comprises several items that can be added, which helps collectors showcase their digital collectibles better. Items that can be added to this showroom accessory include;

• Displays: Shelves, pedestals, plinths, stands, vitrines, partitions.
• Nature: Plants, rocks, scenery.
• Urban: Dumpsters, fences, walls, buildings.
• Indoor: Lights, plants, furniture.

VeVe Comics

Source: Medium.com

VeVe comics are digital comics available on the VeVe platform. Depending on the collector’s choice, they usually come in different rarity versions, ranging from common to uncommon to rare to ultra rare to secret rare.

Unlike physical comics, VeVe comics always maintain their original condition. Hence, their quality remains intact, allowing users to enjoy them anytime.

To purchase a VeVe comic, users must first switch to the digital comics section. Users must use the “switcher menu” below the VeVe logo headbar to do this. This switcher menu allows users to switch between digital collectibles and digital comics.

What is the OMI Token?

The OMI token is the native cryptocurrency for the ECOMI ecosystem. It facilitates cryptocurrency transactions within the ECOMI blockchain network. The OMI token is a GO20 and GO721 token type, which define the rules for fungible and non-fungible tokens, respectively.

About 750 billion OMI tokens are in total supply, with 20% reserved for private and public sale, 20% for team, board members, and advisors, 40% for development and marketing, and 20% for business development.

Source: whitepaper.io/coin/ecomi

Uses of the OMI Token

• OMI tokens can be used to buy, sell, and trade digital collectibles on the ECOMI Collect or VeVe platform.
• The OMI tokens can be staked within the ECOMI blockchain network, allowing users to earn rewards and benefits from the ECOMI platform.
• The OMI tokens are used to pay transaction fees within the ECOMI blockchain network.

Is the OMI Token a Good Investment?

Since ECOMI offers traders a unique opportunity to buy, sell, and trade digital collectibles, it will capture the interest and attention of collectors and crypto enthusiasts. As more users use the platform, its user base will grow beyond the current 250 thousand capacity.

The demand for OMI tokens will increase as the number of ECOMI users increases. Since OMI tokens are required to facilitate transactions within the ECOMI ecosystem, the high demand for the token may drive the price up.

However, due to the cryptocurrency market’s volatility, it is often important to research blockchain projects before investing in them. Doing this prevents blind or uninformed investing, which usually results in loss.

Reading through the ECOMI whitepaper and following closely what is said about it in the crypto social media space will provide enough insights as to whether investing in the ECOMI project will be worth it.

Risk Analysis

Advantages

A major advantage of ECOMI is its exciting features, which make interaction with digital collectibles fun and immersive. Its in-gaming, augmented reality, and scene-creator features provide users engaging and seamless experiences.

In addition, its strong security mechanisms and partnerships with established brands like DC Comics, Marvel, and Warner Bros enhance the platform’s appeal, attracting more collectors and crypto enthusiasts.

Disadvantages

A major disadvantage of ECOMI is its volatility. Since the crypto market is generally volatile, investors might suffer significant losses if the market fluctuates. Since ECOMI is a blockchain project technology, users might have crypto anxiety, fearing that they might lose their money.

Limited adoption is also another problem. Compared to other established digital collectible brands, ECOMI may have a limited research base, which may affect the strength of its community.

Competitive Product Analysis

Dapper Labs, Immutable X, and OPenSea are some of ECOMI’s biggest competitors. Like ECOMI, these companies also focus on creating and trading NFTs and digital collectibles.

However, its strong brand partnerships and the different features integrated into the ECOMI Collect or VeVe app are unique advantages that make ECOMI quite popular in the digital collectible and NFT market.

How Can You Own the OMI Token?

To own an OMI token and become a part of the growing ECOMI ecosystem, you can follow the simple step-by-step process.

Set up a Wallet

To own an OMI token, you need to purchase it from a cryptocurrency exchange. To do this, you must create a Gate.io account, complete the KYC process, and add funds to the account to purchase the token.

Use the OMI Tokens

Once you have your token, you can explore the ECOMI ecosystem. OMI tokens can be utilized in the VeVe digital collectible ecosystem.

Useful References

For the latest update about ECOMI, you can visit:

• Official website
• Twitter
• Medium

Take action on ECOMI

Users can sign up and purchase OMI tokens here.