Ecomi

How to Buy OMI Tokens

OMI has been listed on various crypto exchanges. However, unlike other mainstream cryptocurrencies such as BTC, users cannot purchase it directly with fiat money. Instead, OMI tokens must be acquired by first buying ETH from a fiat-to-crypto exchange, and then transferring it to an exchange that supports OMI trading.

Here are several ways you can buy the OMI token:

Register on a fiat-to-crypto exchange: To buy a major cryptocurrency like BTC or ETH, you must first be registered on a fiat-to-crypto exchange. The process of creating an account involves filling in your personal details and going through the KYC process. Each exchange has its own fee policy and set of features to take note of.

Buy BTC or ETH with fiat money: After completing the KYC process, you’ll need to add a payment method. You can use a bank transfer, debit card or credit card to make payments. Once your payment method has been selected, you can purchase BTC or ETH by choosing the corresponding trading option.

Transfer BTC or ETH to an altcoin exchange: Since OMI is an altcoin, you’ll want to find an exchange that supports OMI trading. After registering for an account on that exchange, you can deposit your BTC or ETH and proceed to buy OMI.

Select a wallet in which to store your OMI coins: Like any other cryptocurrency, it’s paramount to securely store your OMI coins. You can choose from three types of crypto storage wallets:

Online wallets

Software wallets

Hardware wallets (cold wallets)

What Are OMI Tokens?

Native to ECOMI, OMI tokens are used as a medium of exchange in the ECOMI crypto ecosystem. Users can buy, sell and trade their digital collectables on the VeVe platform with OMI tokens. OMI also helps keep track of ownership by recording every transaction.

When a transaction with the OMI token is confirmed on the VeVe app, the immutable data is stored publicly. Maintaining a record of the digital collectables helps eliminate disagreements regarding ownership or illegitimate items. Veve users can also verify their OMI transactions using the GoChain Explorer.

Using OMI Tokens

The OMI token is a utility token that’s the designated medium of exchange on the VeVe marketplace. Users can interact with fandoms of popular franchises like Star Wars or Pokémon by buying licensed 2D and 3D digital models and artwork. Users can also stake their OMI coins to gain access to exclusive premium features like augmented reality (AR).

Tokenomics

OMI had an initial coin supply of 750 billion, of which 20% were made available as part of the initial OMI sale to fund the project. The first round of funding involved a hard cap of 1500 BTC worth of OMI coins exchanged on BitForex. At that time, the value of BTC was between $6,000 and $8,000, but is currently over $60,000.

At present, the supply of OMI coins stands at 166.2 billion. The VeVe platform holds 290.7 billion OMI (about 40%) as a reserve for in-app purchases. The VeVe Vault Wallet holds approximately 42.2 billion OMI, in the event of project liquidation.

Apart from the current circulating supply

Circulating supply is the number of cryptocurrencies or tokens that are publicly available and circulating in the crypto...

, 20% of the total OMI supply goes to ECOMI business development, and 20% to its board members and advisors. Since the initial launch of the VeVe ecosystem, over 103 billion OMI tokens have been removed from the supply. This token burn reduced the initial token supply of OMI to less than 647 billion units.

What Is ECOMI?

A Singapore-based technology company in the digital collectibles space, ECOMI comprises two components: an app-based marketplace called VeVe (formerly known as ECOMI Collect) and the ECOMI Secure Wallet.

VeVe, ECOMI’s blockchain-based digital collectibles marketplace, allows users to share and buy collectibles across the social network service. The VeVe marketplace is accessible via the Collect app, with which users can buy and own premium digital collectibles produced by brands like Warner Bros., DC Comics and Cartoon Network.

Through the app’s marketplace, users can acquire both common collectibles, such as digital artworks, and rare ones, such as limited-edition weaponry. Users can exchange collectibles via their smartphones within the VeVe community.

ECOMI views digital collectibles as a new class of assets, offering intellectual property owners access to new revenue streams within the digital landscape. Gaming, digital streaming and in-app purchases have become multi-billion-dollar markets. In response to rising consumer demand, ECOMI is looking to provide users with an all-in-one digital platform that’s secure and economical.