What are NFTs?

A non-fungible token (NFT) is a type of cryptographic token on a blockchain that represents a single asset. These can be fully digital assets or tokenized versions of real-world assets. Since NFTs are not interchangeable with each other, they can function as proof of authenticity and ownership within the digital realm.
Fungibility means that the individual units of an asset are interchangeable and essentially indistinguishable from one another. For example, fiat currencies are fungible, because each unit is exchangeable for any other equivalent individual unit. A ten-dollar bill is interchangeable with any other ten-dollar bill that is authentic. This is an imperative feature for any asset that claims to act as a medium of exchange.
Fungibility is a desirable property for money because it allows free exchanges, and, theoretically, there is no way to know the history of each individual unit. However, this is not a beneficial attribute for collectibles.
But what if we could create digital assets similar to Bitcoin, but adding a unique identifier to each unit? This would make each of the units different from the rest (i.e. non-expendable). Basically, that is an NFT.

What is ECOMI? Let’s talk about it

ECOMI is a Singapore-based tech company leading the emerging digital collectibles (NFTs) space. ECOMI offers a one-stop shop for digital collectibles through the VeVe app, bringing pop culture and entertainment into the 21st century.
The VeVe app allows users to experience real ownership of digital collectibles first hand. Through the App Marketplace, users can obtain common, rare, or unique digital collectibles, share them through the social networking service, and trade them with the VeVe community, all from the palm of their hand.
ECOMI sees digital collectibles as a new asset class that offers IP owners the opportunity to gain new revenue streams in the digital landscape. Digital streaming, gaming and in-app purchases have become a multi-billion dollar market and the next to join this digital trend is the pop culture and collectibles industry.

OMI Token

The VeVe platform based on blockchain and built by ECOMI allows owning a digital object and interacting with other users. For this, the platform uses the OMI token of the GoChain network (it is a GO20 token).
The blockchain is used as an immutable record of ownership, so you always know that what you are buying is real and legitimate. The OMI token is a utility token. That is, it has been designed with the specific purpose of being exchanged for digital collectibles, within the VeVe platform.
In order to raise funds and start building VeVe, the OMI token was sold in a private / pre-sale round, and to the public through an initial exchange offering (IOE) on the Bitforex exchange. The collection was capped at 1500 BTC, and at all stages of the collection, the OMI token was priced at 1 satoshi. There were no discounts for private or presale investors, nor were there locks or vested rights on those tokens.
As a token-based system and economy, it is important to note that there are 750 billion IMOs (750,000,000,000).
20% of the total token supply was made available during sales, that is, 150 billion OMI tokens. A value of 50 BTC of OMI was sold in the public sale / IEO, which sold out in less than 12 hours, and was completed in May 2019. At the time of the sales, the BTC was worth around $ 7000 .
The current circulating supply of OMI tokens is around 166 billion OMI. With the VeVe tokenomic system design, an additional 40%, or 300 billion OMI tokens, are held in reserve by the app, most of which will never enter circulation.

• Another 40 billion OMI added for initial liquidity belongs to VeVe Vault.
• 150 billion IMO will be used to incentivize business development.
• 150 billion IMO will go to the team, advisers, members of the board of directors.

OMI advantages

Ecomi has obtained the highest number of branded digital collectibles licenses. They already have licenses for a lot of DC Comics characters like Superman, Batman, The Joker, Harley Quinn, Ghostbusters. It also has licenses for video games such as Monster Hunter and Street Fighter; television and film characters (Star Trek, Ultraman, Jurassic Park, Fast and the Furious, Back to the Future); sports like the NFL and much more.
Ecomi has an extremely strong token model. 40% of OMI’s maximum supply is held in a reserve within the app. Every time an NFT is purchased on the VeVe app, the equivalent value of OMI tokens is withdrawn from the pool and burned. The result is that, just one month after opening the VeVe app to the public, more than 1 billion OMIs have been permanently withdrawn from circulation. Additionally, 10% of the proceeds from NFT’s new sales go to buy back OMI from exchanges. It is possibly the best tokenomics model I have seen in NFT projects.
So All in all, will ECOMI be the future king of NFT’s collectibles? It’s very possible. The project is very solid and there are really strong companies behind it. One thing is sure and is that we definitely should follow the track on them.