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Investing In ECOMI (OMI) – Everything You Need to Know

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ECOMI (OMI) seeks to further the adoption of NFTs (non-fungible tokens) and other digital collectibles via its inclusive ecosystem. The protocol combines an easy-to-navigate app, marketplace, cryptocurrency, hardware wallet, and deflationary protocols to create a unique user experience. The goal of the project is to create a top-performing NFT ecosystem. Notably, ECOMI is the official utility token for the VeVe Dapp.

VeVe

VeVe is a popular marketplace for digital collectibles. The network enables users to sort through a massive selection of NFTs and create galleries to showcase their collections. Users interact with the protocol using OMI tokens which makes ECOMI a vital component of the VeVe network. The Dapp has +290,000 active users. It has also completed the sale of 510,000 NFTs. As such, VeVe is a popular mobile NFT marketplaces in the world and sits alongside the top-grossing Entertainment Apps in the Google Play and Apple stores.

ECOMI (OMI) - VeVe Dapp

ECOMI (OMI) – VeVe Dapp

What Problems Does ECOMI (OMI) Solve?

There are a lot of issues that ECOMI helps to reduce. For one, the network is all about digitally licensed asset protection. As part of this strategy, the network provides users with a hardware wallet. A hardware wallet is the most secure way to store your cryptocurrency.

Hardware wallets keep your cryptocurrency stored offline. In this hackers can’t steal your funds. Hardware wallets also employ buttons to confirm transactions. This strategy is very effective because even the best hacker in the world can’t press a physical button without being present.

Lack of Liquidity

Another major concern for NFT users is a lack of liquidity. The majority of DeFi protocols are relegated to a single blockchain. As such, you have very little interoperability between DeFi networks. This lack of interoperability hurts the overall liquidity of each protocol. ECOMI connects the top-performing networks and enables NFT creators to connect to a secondary marketplace directly from their wallets.

ECOMI (OMI) - Twitter

ECOMI (OMI) – Twitter

Benefits of ECOMI (OMI)

There are some key benefits that make ECOMI a smart move. For one, the protocol is set up to operate as a one-stop-shop for digital collectibles. New users can find this approach to be less confusing. Everything you need to start collecting, trading, and creating NFTs is at your fingertips. The protocol enables anyone to purchase, protect, and collect premium licensed digital collectibles in a seamless manner.

Deflationary

Another big plus for the system is its deflationary aspects. The protocol leverages buybacks and burns to keep the token value appreciating. Notably, inflationary risks are running high through the fiat and DeFi communities. In the past, DeFi protocols have suffered from inflation due to the issuance of too many liquidity pool tokens.

ECOMI eliminates these concerns through its value control protections. Specifically, the OMI used to purchase NFTs gets sent to a burn address. Burn addresses are wallets that have no withdrawal function. When a token is sent to a burn address it is removed from circulation forever. As such, burns and buybacks help to drive token values higher.

Passive income

Another reason to consider trading OMI is its passive income features. ECOMI supports staking for token holders. You can earn rewards based on the time and number of tokens you stake. The key thing about staking to understand is that your tokens will be inaccessible during the staking period. This approach also reduces the circulating supply which drives values higher.

Additionally, staking is a great option for traders seeking more consistent returns. You already know what your rewards will be at the end of the stake. You can improve these rewards by simply staking more tokens. Staking has become one of the top DeFi features in the market because it enables new users to earn returns without giving up ownership of their digital assets.

How Does ECOMI (OMI) Work?

ECOMI is an Ethereum-based protocol. However, the network has also branched into the Binance Smart Chain ecosystem. The network combines multiple protocols including a collection system Dapp, augmented reality, and a hardware wallet. The developers envision a day where users will be able to use augmented reality galleries and even take items from the real world and add them to the blockchain via this integration.

VeVe App - ECOMI (OMI)

VeVe App – ECOMI (OMI)

ECOMI Collect App

The ECOMI collect app enables users to browse through the market and see vital stats on digital collectibles. You can see info such as the scarcity, network, last sold amount, and past owners of note. This information gives NFT collectors an edge when determining the next token to add.

Once you build up your collection, you can show off your works of art to the entire community in the Dapp. You can set up a personal showroom to let the community enjoy your work. There is even a comment section for admirers to ask questions about the pieces.

 ECOMI Secure Wallet

The ECOMI Secure Storage provides you with a wireless, card-sized, hardware wallet. This device employs top-notch security measures including meeting CC EAL5+ security standards. Users can send and receive crypto transactions directly from this hardware wallet as well. Additionally, the device comes with a Dapp to further simplify monitoring and transactions.

OMI - CoinGecko

OMI – CoinGecko

OMI

OMI is the main utility token for the VeVe and ECOMI marketplaces. The token meets ERC-20 standards which provides it with a high level of interoperability in terms of wallets, DEXs, and DeFi options. You can also stake OMI to secure low-risk returns.

Gems

GEMs are the stablecoin used by the VeVe Dapp. Users can convert gems into OMI tokens using the application. GEMs provide VeVe users with a stablecoin option to simplify accounting.

How to Buy ECOMI (OMI)

ECOMI (OMI) is available on the following exchanges:

Gate.io – This exchange was established in 2013, and is one of the more popular & reputable exchanges. Gate.io currently accepts most international jurisdictions including Australia & the UK.  Canada & USA Residents are prohibited.

ECOMI (OMI) – Driving NFT Adoption and Innovation

ECOMI continues to enable users to join the NFT revolution. The system streamlines the entire process by including everything you need to collect and keep your collectible safe. For these reasons and many more, you can expect to hear a lot more from ECOMI in the future.

David Hamilton is a full-time journalist and a long-time bitcoinist. He specializes in writing articles on the blockchain. His articles have been published in multiple bitcoin publications including Bitcoinlightning.com

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