Last year, we introduced you to ECOMI, the NFT project to follow in 2022. A few months later, where does the project stand? Find out the latest news and progress in this article.
A reminder: what is ECOMI?
Before delving into the project’s latest news, it’s important to remind ourselves what ECOMI is. It’s a Singapore-based company that aims to democratize digital collectibles, otherwise known as NFTs.
To find out what an NFT is, discover our complete guide.
The company has created a crypto-currency, the OMI, and via the VeVe Collectibles (VeVe) app, offers the distribution and exchange of NFTs based on pop culture and entertainment.
The VeVe application operates on a licensing system, obtained thanks to a number of prestigious partners and multinationals.
Migration of the ECOMI ecosystem
ECOMI has decided to migrate from the ECOMI/VeVe ecosystem to Ethereum via Immutable X, the first layer 2 protocol for NFTs based on the Ethereum blockchain.
With this migration, ECOMI aims to join the most widely used and developed blockchain. This will also enable compatibility of tokens and projects built on Ethereum.
Migration to Ether via Immutable X will improve access to the VeVe application and the OMI token. It will also enable NFT compatibility in the future.
In summary, here are the four main benefits:
- Greater security and decentralization thanks to the Ethereum blockchain.
- Exposure to a new audience, as Ethereum is the most widely used blockchain.
- Asset interoperability (NFTs and OMI tokens).
- Easy integration of the OMI token as ERC20.
In concrete terms, you’ll be able to buy NFTs on VeVe with OMIs, as there are now several wallets integrated into the application. A Gem virtual wallet and an OMI digital wallet for fast transactions. For example, if you have OMI on an exchange, you can send it to VeVe to buy NFTs.
Previously, it was only possible to buy NFTs on VeVe with an in-app virtual currency: Gems. These enabled users unfamiliar with crypto-currencies to use it. One Gem is equivalent to one US dollar, and it is not currently possible to convert Gems into fiat currency (US dollars or euros).
James Bond in the spotlight
Due for release in October 2021, the latest film in the famous James Bond saga has been eagerly awaited.
The VeVe platform has partnered with the James Bond license to offer NFTs from the latest film.
In February, the app offered its users several drops of James Bond NFTs, with over fifteen unique NFTs in all:
- 3 of James Bond’s famous Aston Martin.
- 9 posters featuring several unique visuals from the film.
- 4 striking film accessories.
- 1 of James Bond’s Triumph motorcycle.
The drops have been a great success, as each NFT is “sold out” and can only be purchased on the second-hand market. Currently, the cheapest NFT of the Aston Martin DB5 (007 Interactive) is on sale for 349.9k Gems or 349,900 US dollars USD. A great success for VeVe and the James Bond license!
