VeVe

VeVe was created by a company based in Singapore known as ECOMI. The OMI token is the native cryptocurrency token on top of which the ECOMI ecosystem is based. In order to make VeVe a user-friendly option for users that might not use cryptocurrencies regularly, as well as to prevent any fluctuations in the price of OMI affecting them, ECOMI made the decision towards having the VeVe application utilize an in-app currency known as gems. VeVe gems are a stablecoin which’s value will always equal one United States Dollar (USD).

VeVe's 3D digital collectibles are crafted by world-leading artists, such as Jim Lee, Todd MacFarlane, and Scott Snyder, who sculpt directly in 3D instead of clay, and through the VeVe application, users are given the opportunity to own 3D limited editions of many exclusive digital collectibles.

VeVe is an application that hosts and facilitates the purchase of digital collectibles which come in limited-edition releases, and can be purchased, sold, traded, upgraded, and customized, with the eventual goal of being showcased in virtual showrooms or shared on social media, all of which is a possibility through the official application.

VeVe prides itself on the fact that they offer digital collectibles from many popular brands within the field of pop culture, gaming, sports, film, tv, anime, and animation, including brands such as Marvel, Batman, Adventure Time, Monster Hunter, DC Collectibles, Star Trek, Fast and the Furious, Back to the Future as well as others.

Collectors are given the opportunity to display their collectibles in virtual showrooms, which can be customized. Users can move through these showrooms directly from the phone app, or they can visit it in an augmented reality manner where they can physically walk through them.

Through the utilization of VeVe’s secondary market, users can buy and sell from VeVe collectors. If a user has missed on a digital collectible the moment that it dropped, or they need to complete their set, they can browse the secondary market and see if others have listed the collectible which is required up for sale.

Through the VeVe Augmented Reality option, you can take a photo of your favorite collectible by scanning your surroundings with your smartphone. To do this, all you have to do is drop your digital collectible on any flat surface, and you can then move, rotate and scale your collectible, and text them to your friends or family, or even post them on your favorite social media channels.

Through VeVe's secondary market, you can also review the value of specific collectibles and buy the ones that you might have missed, or even sell the ones that you own. Sales within the VeVe marketplace do not exchange in cash but in gems exclusively, and one gem is always equal to 1 USD.

VeVe made an announcement that they are becoming the first carbon-neutral NFT platform, starting with a commitment to offset 100% of the carbon footprint, which is caused by the process of minting NFTs, which will negate the environmental impact which is caused by distributed ledger technologies.

VeVe will offset the carbon footprint by purchasing carbon credits which are equal to the CO2 used in the process of minting non-fungible tokens (NFTs).

The VeVe application is easy to use, and if anyone has used a smartphone for any length of time, they should have an extremely easy time navigating the application. All a user has to do is just purchase some gems and wait for their preferred NFTs to drop or purchase them directly through the "Buy Now" option at the NFT marketplace. They can also engage in auctions.

VeVe has also partnered up with some solid brands to launch their NFT projects within the application, including conglomerates such as Disney.

Whenever you purchase anything that’s Ethereum based, such as NFTs minted on the Ethereum blockchain, you have to pay gas in addition to the price of the NFT which has been purchased. With VeVe, due to the fact that all of the purchases are made within the application directly through the usage of the native currency known as gems, there are no gas fees that need to be paid. Due to the fact that VeVe functions within its own application, scams are way less likely, as every single NFT you buy with VeVe is not a scam.

That said, in-app-gems are not currently transferable to FIAT currency, although this is something currently in development and will likely be a possibility throughout 2022. Remember that some of the best deals you will find on VeVe are also drop-specific, which means that if you get an NFT on a drop, you will likely get the chance to buy it at a very low price when compared to what others might need to pay for it in the marketplace later on.

One of the main reasons why VeVe gems are utilized is due to the fact that they allow for the easy purchase of non-fungible tokens (NFTs).

Rather than users having to purchase cryptocurrency on an exchange and then transfer it to a browser wallet, they can buy VeVe's in-app currency and use the gems to purchase NFTs in the application.

Once the gems are added to a user’s account, they can buy any NFT they see in the VeVe application, assuming that the gems balance is sufficient enough to cover the cost associated with the purchase. However, there is no way to convert VeVe gems into fiat currency. VeVe's parent company, known as ECOMI, is working on migrating VeVe to a Layer-2 Ethereum solution, which would, in turn, allow users to convert their VeVe gems to OMI tokens and trade them on supporting cryptocurrency exchanges. This would make it a possibility to convert the gems to FIAT currency.

On December 27, 2021, ECOMI, through an official Medium publication, announced that the minting of NFTs on Immutable is completed and that they have begun preparations for the migration of the OMI token to Ethereum. This means that users can swap or migrate their tokens through three options, including the VeVe application, Exchanges, or the official Token Swap Site.

There are a total of four ways through which users are given the opportunity to purchase Non-Fungible Tokens (NFTs) on VeVe.

• On-Drops -Throughout the week, VeVe will host what is known as "drops" on specific NFTs or full-out NFT sets. This drop occurs at a particular date and time, which VeVe sends emails about before it occurs. This means that users are given a specific time frame in which they can buy the NFTs in question, and if they miss this opportunity, they will have to wait for someone to manually post them up for sale on the marketplace later on.
• In the marketplace directly through the “Buy Now” Option - Once an NFT has dropped, the owners of the NFT in question can sell it through the VeVe marketplace. The simplest way this process can be conducted is to go to the NFT in a specific collection and by clicking on the "Sell in Market" section of the page, after which you can set the gem price you are willing to sell the NFT for. Buyers can purchase the NFT in the marketplace, and if they are okay with the pre-set price, they can tap on "Buy Now." This provides an excellent opportunity for users to finish their collections with NFTs they might have missed throughout drops.
• In the Marketplace Through an Auction - Aside from the “Buy Now” option, there is also the possibility for NFTs to be auctioned on the application. Here, users essentially bid for the NFT in question, and the user who bids the highest number of gems gets to own the NFT in question.
• Outside of the Platform - The fourth way through which someone can purchase NFTs is through an off-platform arrangement. The user needs to find someone who has a VeVe NFT that they want, agree to a price for that NFT outside of the app, and pay that individual for the NFT outside of the app, or conduct a direct peer-to-peer (P2P) transfer of cryptocurrencies. This is one of the riskiest ways through which someone can purchase a VeVe NFT, but it is a possibility.

ECOMI is a technology company which is based in Singapore and is a leader in the emerging digital collectibles space. ECOMI offers a one-stop shop for digital collectibles through the VeVe application and brings pop culture and other entertainment through NFTs.

Due to the fact that VeVe is an offering from ECOMI, we will be looking at the ECOMI team.

• David Yu – CEO
• Daniel Crothers – COO
• Joseph Janik – CIO
• Mikel Duffy – CTO
• Lucas Young – Full Stack Developer
• Rhys Skellern – Communications Manager
• Steven Connery - Solution Architect
• Douglas Hand - Art Director
• Sean Liang - Sales Manager
• James Li - Licensing Manager
• Howard Lin - Customer Service
• Jong Wang – Customer Service
• Alfred Kahn – Head of Global Licensing
• Rob Salkowitz - Advisor