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ECOMI Review 2019 – Pricing, Secure Wallet

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ECOMI ICO coin Review - ECOMI official logo image - topcoinsignal

ECOMI is a Singapore registered business, operated and supported by ORBIS Blockchain Technology Ltd. ORBIS is a registered company in New Zealand with offices in Auckland, New York, Taipei and Shanghai. ECOMI’s aim is to create the world’s best platform to purchase, protect and collect premium licensed digital collectibles using Distributed Ledger Technology. ECOMI consists of two elements, the ECOMI Collect ecosystem and the ECOMI Secure Storage Wallet.

 

ECOMI Collect Overview

ECOMI Collect is an application that allows users to buy, sell and trade premium licensed, digital collectibles and other related virtual goods. Through the ECOMI Collect app, users can browse a multitude of different brands and categories to view and purchase digital collectibles, becoming the official owner. Users can display their digital collectibles in their personal showroom and create custom scenes with their digital collectibles and props. Within a social feed users can share their digital collectibles, showrooms and scenes with the ECOMI Collect community, who can comment and show appreciation.

ECOMI ICO coin Review - ECOMI Secure Wallet imga

The Augmented Reality feature lets users interact with their digital collectibles in the real-world and even show them on social media. Eventually through ECOMI’s in-app gameplay, collectibles will be able to interact with each other. Within the app, users can connect to a secondary marketplace, where they will be able to buy, sell and trade to other members of the community.

 

OMI Token

In order to facilitate the purchase and trade of digital collectibles, ECOMI Collect utilizes the OMI token. There will only be 750 Billion OMI tokens minted and these are purchased during the ICO, through the ECOMI Collect app, or on an exchange. The OMI tokens will be GO20 standard whereas the digital collectibles are GO721 (NFTs). When a purchase of a collectible is made, the OMI tokens will be exchanged for the NFT. The NFT will be sent to the users Ecomi Collect app and become rightfully theirs, whilst the OMI tokens used for the purchase are discarded to a locked address.

ECOMI ICO coin Review - ECOMI token information

The underlying economy of ECOMI Collect is the OMI Token. The token is needed for two reasons. Firstly, the sale and purchase of digital collectibles and secondly, access to extra features and benefits within the app, such as the ’Master Collector Program’. When a purchase is made using OMI tokens, the tokens involved in the transaction are exchanged for the digital collectible and then expire. After a successful purchase the invalid OMI tokens are sent to an inaccessible smart contract where they reside permanently. ECOMI Collect users can acquire OMI Tokens using a credit or debit card, or where applicable, via an in-app purchase. When via in-app purchases, the payment will seamlessly purchase an amount of OMI tokens (determined by the user) and once the OMIs are acquired they are used to purchase the digital collectible. This process happens entirely in the background.

 

Pricing

Digital collectible pricing within the ECOMI Collect app will be displayed in both fiat and OMI tokens. As ECOMI Collect targets the mass market, representing payment in familiar terms (fiat) is key for adoption. It is likely that over the natural progression of time the OMI token value will fluctuate based on supply and demand. By pricing digital collectibles in fiat, ECOMI can ensure any fluctuations in the OMI token value will not affect the collectible price. For example, at OMI token issuance the value of 1 OMI = 1 Sat (0.00000001 BTC), a USD $9 digital collectable would be worth approximately 138,831 OMI tokens (current BTC USD $6,483.39). If the OMI token value was to double to 1 OMI = 2 Sats, a US$9 digital collectable would be worth 69,415 OMI tokens. ECOMI Collect users will not be affected by these fluctuations in the OMI token value as the price will have always remained a consistent dollar value.

ECOMI ICO coin Review - ECOMI Roadmap

Secure Wallet

The Secure Wallet is a wireless, credit card-sized, hardware cold storage device that protects private keys. The Secure Wallet is designed to be impenetrable to malicious cyber-attacks as it never connects directly to the internet or insecurely via an online device.

The Secure Wallet is securely paired using an encrypted Bluetooth connection to the host device (iOS or Android smartphone). Removing the need for a wired connection reduces the likelihood of being compromised, whilst allowing for the highest degree of portability.

On the Secure Wallet device itself, the user can view balances and feedback information on the e-paper display. Further interactions with the Secure Wallet are carried out via the ECOMI Secure Wallet App. Using the Secure Wallet App, users can:

  • Maintain full control over the transfer of private keys in and out of the Secure Wallet
  • Securely store and manage Bitcoin, Bitcoin Cash, Ethereum, Ripple, Litecoin (more coming)
  • See all cryptocurrency balances
  • Send and receive all supported cryptocurrencies
  • View transaction history
  • Create up to five individual accounts per cryptocurrency

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