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Telegram AMA Recap - Ecomi Hosted by BitSquad February 25, 2021
Recap of AMA on Telegram with "The Cat" from Bitsquad interviewing Dan Crothers, COO and Co-Founder of ECOMI and Rhys Skellern, Communications Manager of ECOMI on February 25, 2020.
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Summary
- Ecomi is the name of the company established in 2018 while VeVe is the app available in iOS and Android
- License restrictions required VeVe to stay under the radar
- Ecomi secured 100+ brands
- Warner Brothers
- DC Collectibles
- Harley Quinn
- Batman
- The Joker
- Superman
- Ghostbusters
- TOKIDOKI
- Donutella
- Unicorn
- Cactus Friends
- Back to the Future
- Jurassic Park
- Fast and the Furious
- CryptoZoic Cryptkins
- Ultraman
- Cartoon Network
- Adventure Time
- Powerpuff Girls
- We Bare Bears
- Tuzki
- CBS
- Star Trek – The Next Generation
- Star Trek – Picard
- Star Trek - Discovery
- NFL
- Capcom
- Street Fighter – Separate from WAX and will be interactive AR
- Monster Hunter
- Monster Hunter - Iceborne
- Warner Brothers
- OMI is a utility token used to buy digital collectibles in the VeVe app
- No relationship to ECOM token
- NFTs remain in VeVe for now
- Official Announcement: Licensed with General Motors (Pontiac, Chrysler, GMC, Cadillac, and concept cars)
- Available globally with Secret-Rare
- Official Announcement: Ghostbusters Ecto-1 will be dropped
- GoChain was selected a few years ago because it serves the needs of the business
- Looking to support multiple chains
- Links to Tokenomics documentation provided
- Core team is co-founder David Yu and SVP of licensing Alfred Kahn who brought Pokemon to the US
- Video of Back to the Future DeLorean in AR in drive mode
- Roadmap coming this year
- Custom branded showrooms with multi-user interactivity
- OMI staking
- Blind box openings
- VeVeVerse (no elaboration)
- A brand new type of digital product with leading licensors
- A new exchange listing (Currently on BitForex only)
- Option to trade with others
- Convert gems to OMI token
- Collaborations with manga, artists, rappers, fashion designers etc.
- Virtual reality action figures/vehicles with the ability to battle and race
- Web platform
- Interoperability with wearables
- Wrapped version of OMI – wOMI for Ethereum
- Drops will become weekly once out of Beta
- Secret-rate is the most rare and the lowest edition
- Ready Player One experience is the goal for VeVe
- VeVe has geo-locating ability
- Detailed explanation of OMI, the burn mechanism and it’s utility
- Google sheet available with OMI burned for the day
Transcript
Dan | ECOMI, [25.02.21 12:45]
Hey guys!
Looking fwd to this AMA 👍👍
John Do, [25.02.21 12:46]
[In reply to Dan | ECOMI]
The myth the legend
Dan | ECOMI, [25.02.21 12:46]
lol, I'm just a normal guy!
Tommy, [25.02.21 12:46]
Normal guy making boss moves
Dan | ECOMI, [25.02.21 12:46]
but thanks for the compliments 😅
Am I Bruce Wayne ... 🤔
haha
steve, [25.02.21 12:47]
I saw that ecomi is going to be affiliated with the NFL players association. Will you be able to do something similar to topshots with this deal?
Dan | ECOMI, [25.02.21 12:47]
[In reply to steve]
The future is wide open in this space 🙂
Wow, the hype is strong in here haha
Great to see!
♥️ your support guys
John, [25.02.21 12:57]
[In reply to Satori Cryptos]
so i need to buy ecom?
Rhys (ECOMI- Will not ask for ETH), [25.02.21 12:57]
no
the token is OMI
people are mistakenly buying 'ecom' but the ticker is OMI
ECOMI FAMMMMMMM
aisha, [25.02.21 12:59]
You know $OMIs a good project when it has us all using BitForex 💀
Rhys (ECOMI- Will not ask for ETH), [25.02.21 13:00]
[In reply to aisha]
hahahaha soooooon you'll have some other options too!
The Cat 🐱 [BitboyCrypto], [25.02.21 13:01]
Alright you guys are all unable to message for the first portion of this AMA.
Welcome @DanECOMI Dan Crothers COO of Ecomi to the Bitsquad. We are glad to have you. I am your host The Cat. How are you doing today Dan?
Dan | ECOMI, [25.02.21 13:03]
Super stoked to be here! Thanks for having me on today 🙂 🙂
The Cat 🐱 [BitboyCrypto], [25.02.21 13:04]
[In reply to Dan | ECOMI]
Likewise, when I began looking into the project I was shocked how under the radar everything was. For those that don't know though, please explain what Ecomi is and what your goals are with your app VeVe?
Dan | ECOMI, [25.02.21 13:04]
Absolutely!
So, ECOMI was established in and 2018 is leading the way in the mass market digital collectible space.
Through our app, VeVe, we offer fans the most comprehensive digital collectibles experience, with premium format 3D digital collectible NFTs from the world's leading brands.
VeVe is a digital collectible experience that mirrors what fans and collectors already know and love in the physical world of collecting, and brings the world of collectibles into the right into the palm of your hand in the digital realm.
VeVe is a live product available right now on iOS and Androind:
iOS: https://apps.apple.com/us/app/ve-ve/id1478403837
Android: https://play.google.com/store/apps/details?id=com.ecomi.veve
The Cat 🐱 [BitboyCrypto], [25.02.21 13:06]
[In reply to Dan | ECOMI]
I was honestly shocked that Ecomi was established in 2018, and you guys have remained this under the radar. Mind blown.
Dan | ECOMI, [25.02.21 13:07]
haha yeah .. it was hard too stay so low, and our community has been suuuper patient with us throughout that time 🙏🙏
The reason we needed to stay so under the radar was due to the license restrictions
But now VeVe is out, we can tell the world 🙂
The Cat 🐱 [BitboyCrypto], [25.02.21 13:08]
[In reply to Dan | ECOMI]
Lets discuss some of those leading brands, you guys lead an NFT event in NYC not too long ago and announced some pretty heavy hitting partners DC comics, and the NFL being two of those that sticks out the most to me.
Dan | ECOMI, [25.02.21 13:09]
For sure. So, to date Ecomi has secured more than 100+ brands which be rolled out over the coming years as epic 3D NFTs
The Cat 🐱 [BitboyCrypto], [25.02.21 13:09]
[In reply to Dan | ECOMI]
Well some of these licenses that have now materialized are some of the biggest partnerships we have seen thus far in the NFT space.
Dan | ECOMI, [25.02.21 13:10]
Some of the brands we have secured include: DC Collectibles, Ghostbusters, Harley Quinn, Batman, Superman, tokidoki, Back to the Future, Jurassic park, Monster Hunter, Ultraman, Adventure Time, Powerpuff Girls, Star Trek and many more.
yep - it was a long road to get here but super happy people are loving VeVe
The Cat 🐱 [BitboyCrypto], [25.02.21 13:10]
[In reply to Dan | ECOMI]
How does VeVe work when it comes to purchasing an NFT?
Dan | ECOMI, [25.02.21 13:12]
One of our main focuses is to ensure mainstream users can easily use the VeVe app, and for that reason all the crypto is behind the scene - but accessible if you want to access it
For this reason normal users can come into the app and pruchase via in-app purchase, like you would with any other app
and all the tokenomics happens in the background
The Cat 🐱 [BitboyCrypto], [25.02.21 13:13]
[In reply to Dan | ECOMI]
Honestly, we all have seen a lot of fake inauthentic nfts in the nft space. So it's nice to see that there will be a platform allowing licensing for big players. This ensures that everyone who uses your platform will be getting authentic digital collectibles.
Tell us all a bit about Ecomi or OMI's tokenomics?
Dan | ECOMI, [25.02.21 13:14]
[In reply to The Cat 🐱 [BitboyCrypto]]
Yes, 100% - and in some cases, like Batman, these are the actual 3D models the artists sculpted
OMI is a utility token used to buy digital collectibles in the VeVe app both in the Store and secondary market.
Whenever a purchase takes place on the VeVe platform, an equivalent amount of OMI is burnt and removed from circulation, then a percentage of those purchases goes into buybacks
The Cat 🐱 [BitboyCrypto], [25.02.21 13:14]
[In reply to Dan | ECOMI]
Very cool and great to hear. Can you transfer the digital collectibles outside of the Veve app to another wallet?
I imagine some of these collectibles will be worth a lot of money some day. Does Veve allow users to trade or sell their digital collectibles?
Dan | ECOMI, [25.02.21 13:16]
[In reply to The Cat 🐱 [BitboyCrypto]]
Great question, and one we get asked a lot
So VeVe digital collectibles are 100% NFTs, like you would expect. However, the caveat right now is some licensors are still a bit cautious of blockchain, so at their request the digital collectibles remain within VeVe - FOR NOW
Later this year we have big brands coming in who will be going straight to interoperable NFTS
It's just a matter of time until the VeVe plaform is opened up
The Cat 🐱 [BitboyCrypto], [25.02.21 13:17]
[In reply to Dan | ECOMI]
In private we discussed you have a partnership to announce would you like to take the time right now to do that? 😉
Dan | ECOMI, [25.02.21 13:17]
Yes!
The Cat 🐱 [BitboyCrypto], [25.02.21 13:17]
Dan | ECOMI, [25.02.21 13:17]
So I'm happy to announce a new brand partner in our Vehicle category!
We are stoked to welcome General Motors!
The Cat 🐱 [BitboyCrypto], [25.02.21 13:18]
[In reply to Dan | ECOMI]
The Cat 🐱 [BitboyCrypto], [25.02.21 13:18]
[In reply to Dan | ECOMI]
Dan | ECOMI, [25.02.21 13:18]
What can you expect from this brand? High resolution, beautifully detailed, interactive 3D models, of all your favorite GM vehicles – from Corvettes to GM’s concepts cars throughout history!
That's right - ALL THE CONCEPT CARS WHICH DONT EXIST IN RL
The Cat 🐱 [BitboyCrypto], [25.02.21 13:19]
Wow including concepts
Dan | ECOMI, [25.02.21 13:19]
These are just a few examples
The Cat 🐱 [BitboyCrypto], [25.02.21 13:19]
That really is a huge announcement
Dan | ECOMI, [25.02.21 13:19]
AND ...
The Cat 🐱 [BitboyCrypto], [25.02.21 13:19]
[In reply to Dan | ECOMI]
Can we get General Motors to make the top left one? I want one.
Dan | ECOMI, [25.02.21 13:19]
Because GM are the owners of Cadallic, I'm also super happy to announce we will be dropping the Ghostbusters Ecto-1
Coming soon to a VeVe app near you 🙂 🙂
The Cat 🐱 [BitboyCrypto], [25.02.21 13:20]
[In reply to Dan | ECOMI]
The Cat 🐱 [BitboyCrypto], [25.02.21 13:20]
That's a classic
Dan | ECOMI, [25.02.21 13:20]
Fully interactive and beautifully details
haha yep
All the ghostbusters fans will love that one!
The Cat 🐱 [BitboyCrypto], [25.02.21 13:20]
[In reply to Dan | ECOMI]
Absolutely!
Dan | ECOMI, [25.02.21 13:21]
So this will be a nice addition to our growing Ghostbusters offering
The Cat 🐱 [BitboyCrypto], [25.02.21 13:21]
So I have to ask, because you guys are using GoChain as opposed to Ethereum, do you see this as a hinderance for exchange listings? Because all of these brand partners are incredible but most of the NFTs are on Ethereum. So why did you choose to use GoChain?
Also Ethereum is where most of the liquidity is for trading
Dan | ECOMI, [25.02.21 13:23]
When we began development a few years ago the blockchain landscape was very different and GoChain was a good partner and serves the needs of the business. The future will ultimately support multiple chains and we are in discussion with a number of top players in the space
The Cat 🐱 [BitboyCrypto], [25.02.21 13:24]
[In reply to Dan | ECOMI]
When Ecomi to Cardano? I have to ask for my good buddy Crypto Crow. 😉
Dan | ECOMI, [25.02.21 13:25]
[In reply to The Cat 🐱 [BitboyCrypto]]
Haha, can't say but happy to investigate 🙂
For the interoperable NFTs, an ERC721 version can be generate to allow for interoperability
The Cat 🐱 [BitboyCrypto], [25.02.21 13:25]
[In reply to Dan | ECOMI]
The Cat 🐱 [BitboyCrypto], [25.02.21 13:25]
I tried.
Dan | ECOMI, [25.02.21 13:25]
Don't ask, don't get, right? 😉
The Cat 🐱 [BitboyCrypto], [25.02.21 13:25]
I am sure Charles would love you guys with all those partners.
The Cat 🐱 [BitboyCrypto], [25.02.21 13:25]
Dan | ECOMI, [25.02.21 13:26]
Hook us up 🙂
Dan | ECOMI, [25.02.21 13:27]
btw for those wanting to learn more about our tokenomics, Rhys our epic-level comms manager, has put these articles together:
You can learn more about the tokenomics on our Medium here:
https://medium.com/ecomi/ve-ve-tokenomics-in-app-funds-and-token-buybacks-7ea8ac1a19c9
Token metrics here: https://medium.com/ecomi/getting-started-with-the-omi-token-metrics-and-details-d2b366a49be0
Medium
(https://medium.com/ecomi/ve-ve-tokenomics-in-app-funds-and-token-buybacks-7ea8ac1a19c9)
VeVe Tokenomics: In-app Funds and Token Buy-Backs
VE-VE uses an innovative tokenomic system to ensure liquidity, and makes it easy to collect your favourite Fandom!
The Cat 🐱 [BitboyCrypto], [25.02.21 13:29]
I mean besides your partners, your team is also pretty impressive. I have to ask who is the master connector pulling all these big brands?
They deserve recognition
Dan | ECOMI, [25.02.21 13:30]
Yes, we have a really solid team, and that is the reason we made it through the crypto winter and are still hear today
The core team is myself, fellow co-founder David Yu, and our SVP of licensing Alfred Kahn
Alfred Kahn, the man, the myth, the legend, is responsible for a little known brand called Pokemon (you may have heard of it..) as well as many other brands, and has been instrumental in helping Ecomi secure these world leading brands.
The Cat 🐱 [BitboyCrypto], [25.02.21 13:30]
David Yu hes the one that is pulling all these big connections worked 20 years in licensing right?
The Cat 🐱 [BitboyCrypto], [25.02.21 13:31]
[In reply to Dan | ECOMI]
Hmmmm no never heard of it. 😉
Dan | ECOMI, [25.02.21 13:31]
It's a team effort tbh!
David, myself and Al work as a team to secure the brands 🙂
The Cat 🐱 [BitboyCrypto], [25.02.21 13:31]
Dan | ECOMI, [25.02.21 13:31]
David Yu, CEO, is a serial entrepreneur who has been in the collectibles industry for 25 years and has chain stores around the globe selling collectibles.
Plus, he is a LEVEL 9000 collector (if you get my meaning) and loves to collect everything - so he truely understands what makes collectors tick and why they buy
Dan | ECOMI, [25.02.21 13:32]
[In reply to The Cat 🐱 [BitboyCrypto]]
😄😄
The Cat 🐱 [BitboyCrypto], [25.02.21 13:32]
[In reply to Dan | ECOMI]
Very awesome!
Dan | ECOMI, [25.02.21 13:32]
As for myself, For the past 20 years I have been entrepreneurial online, growing communities into the millions, and building software solutions for some of the world’s largest toy brands. My real passion is crafting beautiful products that push the boundaries, and that is what I hope I have achieved with VeVe
The Cat 🐱 [BitboyCrypto], [25.02.21 13:32]
[In reply to Dan | ECOMI]
Team effort!
Dan | ECOMI, [25.02.21 13:32]
So the core team is well rounded in business, licensing, and tech and brings all the necessary skills to create this new product
Dan | ECOMI, [25.02.21 13:32]
[In reply to The Cat 🐱 [BitboyCrypto]]
Tag team all the way lol
The Cat 🐱 [BitboyCrypto], [25.02.21 13:33]
[In reply to Dan | ECOMI]
I was going to ask you about your own background as we kind of skipped over that in the beginning because I was too excited with all those brands I saw.
Dan | ECOMI, [25.02.21 13:33]
We have all also known each other for many many years, so team is tight!
haha sure!
The Cat 🐱 [BitboyCrypto], [25.02.21 13:33]
The Cat 🐱 [BitboyCrypto], [25.02.21 13:33]
I want an authentic cat pickachu collectible lets make it happen!
Dan | ECOMI, [25.02.21 13:34]
I'm basically a nerd, and have always been in the tech space, jumping in early on new tech
The Cat 🐱 [BitboyCrypto], [25.02.21 13:34]
Would you like to share anymore of your NFTs with the community today and show case them?
Dan | ECOMI, [25.02.21 13:34]
I was a bit later than most and joined the crypto space since 2017 where I got in, luckily, right before the bull market
Yes!
The Cat 🐱 [BitboyCrypto], [25.02.21 13:34]
[In reply to Dan | ECOMI]
When did you buy your first Bitcoin?
The Cat 🐱 [BitboyCrypto], [25.02.21 13:35]
[In reply to Dan | ECOMI]
HAHA
The Cat 🐱 [BitboyCrypto], [25.02.21 13:35]
Thats too funny man I typed that up as you answered it.
Dan | ECOMI, [25.02.21 13:35]
Got my 1st BTC in mid 2017 - AND I WISH I PURCHASED MORE BTC haha
The Cat 🐱 [BitboyCrypto], [25.02.21 13:35]
Dan | ECOMI, [25.02.21 13:35]
We all have the crypto ragrets lol
The Cat 🐱 [BitboyCrypto], [25.02.21 13:35]
Are you also psychic?
Dan | ECOMI, [25.02.21 13:36]
haha only on thursdays
The Cat 🐱 [BitboyCrypto], [25.02.21 13:36]
[In reply to Dan | ECOMI]
I mined 100 BTC in 2010-2011 and LOST it when my hard drive crashed and I didn't back up the seeds. So I feel your pain.
Dan | ECOMI, [25.02.21 13:36]
[In reply to The Cat 🐱 [BitboyCrypto]]
brothers in arms lol
Dan | ECOMI, [25.02.21 13:36]
So I do have a few more videos of the DeLorean to share!
The Cat 🐱 [BitboyCrypto], [25.02.21 13:36]
Sure thing stage is all yours.
Feel free to share whatever you like with the community today.
Dan | ECOMI, [25.02.21 13:37]
So for those of you who are not aware, one of our brands is Back to the Future
and we have an amazingly detailed digital replica of the DeLorean, whihc you can soon own as an NFT
The Cat 🐱 [BitboyCrypto], [25.02.21 13:37]
Can I borrow that DeLorean to go back in time and save my seed phrases?
The Cat 🐱 [BitboyCrypto], [25.02.21 13:38]
Dan | ECOMI, [25.02.21 13:38]
Vid is uploading....
lol
This is an example of the DeLorean in AR, scaled up 1 to 1
All our collectibles can be scaled to whatever size you want
ALSO!
I have another preview of the DeLorean in interactive mode!
The Cat 🐱 [BitboyCrypto], [25.02.21 13:39]
I have to ask any plans to create a racing game with all these? Because that would be a good idea.
Dan | ECOMI, [25.02.21 13:40]
This of this as a digital radio control car haha
Dan | ECOMI, [25.02.21 13:40]
The Cat 🐱 [BitboyCrypto], [25.02.21 13:40]
[In reply to Dan | ECOMI]
That's so cool
Dan | ECOMI, [25.02.21 13:40]
Once in 'Drive mode' you can drive it around, do burnouts etc
The Cat 🐱 [BitboyCrypto], [25.02.21 13:40]
[In reply to Dan | ECOMI]
This one.
The Cat 🐱 [BitboyCrypto], [25.02.21 13:41]
[In reply to Dan | ECOMI]
That's freaking sick
Dan | ECOMI, [25.02.21 13:41]
We are in the process of adding finishing touches, like tire smoke and tracks when doing burnouts
Dan | ECOMI, [25.02.21 13:41]
and I can tell you it is quite addictive!
The Cat 🐱 [BitboyCrypto], [25.02.21 13:41]
[In reply to Dan | ECOMI]
Oh no you almost ran someone over with an AR car
The Cat 🐱 [BitboyCrypto], [25.02.21 13:41]
Dan | ECOMI, [25.02.21 13:41]
Well, they should get outta my way! 🤣🤣
Dan | ECOMI, [25.02.21 13:42]
So we are really trying to push the boundaries with whats out there now
The Cat 🐱 [BitboyCrypto], [25.02.21 13:42]
[In reply to Dan | ECOMI]
Would be cool to also go beyond just AR and add race tracks in the app and for the collectibles different shelves etc. But I am sure you guys have all that coming.
The Cat 🐱 [BitboyCrypto], [25.02.21 13:42]
[In reply to Dan | ECOMI]
Dan | ECOMI, [25.02.21 13:42]
and hopefully usher in a new era of digital toys, that are limited edition with full ownership
The Cat 🐱 [BitboyCrypto], [25.02.21 13:42]
[In reply to Dan | ECOMI]
Definitely man that's incredible.
Dan | ECOMI, [25.02.21 13:43]
It's always baby steps to start
Dan | ECOMI, [25.02.21 13:43]
Also, just in cas esome users are not aware, within VeVe you can create and decorate virtual showrooms
The Cat 🐱 [BitboyCrypto], [25.02.21 13:43]
I have one more question for you before I open the flood gates for user questions and allow a few users to win nfts.
Dan | ECOMI, [25.02.21 13:43]
Here's an example from one of our supporters
The Cat 🐱 [BitboyCrypto], [25.02.21 13:44]
What is your roadmap?
Dan | ECOMI, [25.02.21 13:44]
haha oky, I shall prepare myself
The Cat 🐱 [BitboyCrypto], [25.02.21 13:44]
[In reply to Dan | ECOMI]
Oh wow that's cool.
Dan | ECOMI, [25.02.21 13:45]
So roadmap, we have a lot of cool stuff coming this year:
- Custom branded showrooms
- OMI Staking
- Blind box openings
- The 'VeVeVerse' - which I can elaborate on in the future
- A Brand new type of digital product with leading licensors
and the list goes on and on
A new exchange listing coming very soon too, so stay tuned for that!
The Cat 🐱 [BitboyCrypto], [25.02.21 13:46]
[In reply to Dan | ECOMI]
Okay I know I said that was the last question but you just gave me more ammo for more questions with that list.
Dan | ECOMI, [25.02.21 13:46]
haha shoot
The Cat 🐱 [BitboyCrypto], [25.02.21 13:47]
[In reply to Dan | ECOMI]
Starting off, custom branded showrooms? Is that going where I think it is an example, lets say NFL player NFTs in a stadium or Cartoon Network characters in their own enviornments?
Second, OMI staking will there be tiers for this and will users receive staking rewards for securing the network?
Dan | ECOMI, [25.02.21 13:48]
Yes, you are 100% bang on. So for NFL you could expect a stadium where all your collectible players can be placed on field
The Cat 🐱 [BitboyCrypto], [25.02.21 13:49]
[In reply to Dan | ECOMI]
Blind box openings would be basically a mystery box right?
Dan | ECOMI, [25.02.21 13:49]
Or maybe a batcave or corner of Gotham city for your batmans
Plus showrooms you can create from scratch at your own design
Dan | ECOMI [25.02.21 13:49]
[In reply to The Cat 🐱 [BitboyCrypto]]
yes that's correct - they are hugely popular in the collectible world
The Cat 🐱 [BitboyCrypto], [25.02.21 13:50]
that's super cool I am stoked for all this. So essentially mystery box chance at getting a "rare" nft right?
Dan | ECOMI, [25.02.21 13:50]
[In reply to The Cat 🐱 [BitboyCrypto]]
We're are working through the final model, but ultimately yes the idea is to reward users for staking
The Cat 🐱 [BitboyCrypto], [25.02.21 13:50]
Like opening a pack of pokemon cards
Dan | ECOMI, [25.02.21 13:50]
[In reply to The Cat 🐱 [BitboyCrypto]]
Exactly
Dan | ECOMI, [25.02.21 13:51]
1 in X chance of getting a rare
The Cat 🐱 [BitboyCrypto], [25.02.21 13:51]
Great thanks for the AMA today Dan, I learned a lot and I hope our community is as excited as I am about Ecomi and Veve.
The Cat 🐱 [BitboyCrypto], [25.02.21 13:51]
I will open the flood gates for 5 minutes get your best questions in for Dan for a chance to win some NFTs.
Open
Sean O., [25.02.21 13:51]
Hi Dan! You made a big announcement with GM in here, and have mentioned in various interviews the desire to have interactive NFTs. In the future, will we be able to have car races with the various vehicles your are implementing? A version of Ready Player 1 if you will? 🙂
Dan | ECOMI, [25.02.21 13:52]
[In reply to Sean O.]
Definitely! Multi-user interactivity is a core part of the VeVeVerse 🙂
Babywerewolf, [25.02.21 13:52]
What's the most difficult aspect 9f launching this ecosystem?
Dan | ECOMI, [25.02.21 13:52]
[In reply to Babywerewolf]
Everything lol
Luke Sullivan, [25.02.21 13:52]
Hi Dan, will there be an option to trade with other people who have NFT’s?
Dan | ECOMI, [25.02.21 13:53]
[In reply to Luke Sullivan]
Yes, coming this year!
Elvis, [25.02.21 13:52]
When will you get listen on Uniswap?
Dan | ECOMI, [25.02.21 13:52]
[In reply to Elvis]
Stay tuned...
Sean O., [25.02.21 13:51]
Hi Dan! You made a big announcement with GM in here, and have mentioned in various interviews the desire to have interactive NFTs. In the future, will we be able to have car races with the various vehicles your are implementing? A version of Ready Player 1 if you will? 🙂
Dan | ECOMI, [25.02.21 13:52]
[In reply to Sean O.]
Definitely! Multi-user interactivity is a core part of the VeVeVerse 🙂
Victor R, [25.02.21 13:52]
What is the price target of OMI by the end of the bull run?
Dan | ECOMI, [25.02.21 13:53]
[In reply to Victor R]
your guess is good as mine 🙂
Max E, [25.02.21 13:52]
? convert gems to OMI coin
Dan | ECOMI, [25.02.21 13:53]
[In reply to Max E]
Coming soon 🙂
Tristeboi, [25.02.21 13:52]
any fashion designers, manga, artists, rapper collabs?
Dan | ECOMI, [25.02.21 13:53]
[In reply to Tristeboi]
Have you been listening into our conversations? 😉
Luke W, [25.02.21 13:53]
Are the walls of the Veve vault for hanging art NFTs 👩🎨
Rhys (ECOMI- Will not ask for ETH), [25.02.21 13:54]
[In reply to Luke W]
yep! you can place your collectibles anywhere you want to in your Showrooms, so you can hang them on walls too
Kevin Barden, [25.02.21 13:52]
When will the next set of drops be? Will they be at regular times?
Dan | ECOMI, [25.02.21 13:54]
[In reply to Kevin Barden]
They will become more regular, like weekly, once we are out of Beta 🙂
Rhys (ECOMI- Will not ask for ETH), [25.02.21 13:54]
hahaha i'll try and help you Dan, this is insane
The Cat 🐱 [BitboyCrypto], [25.02.21 13:54]
at 7 p.m. I will close the chat
So Dan can answer in peace
lol
aisha, [25.02.21 13:53]
Firstly Dan, Thank you for your time. Will General Motors be available globally or are there some region restrictions?
Also will there be secret rare, like the Ghostbusters collection or just limited to Ultrarare,rare,uncommon,common?
Dan | ECOMI, [25.02.21 13:54]
[In reply to aisha]
Global for sure, and there will likely be a Secret-Rare!
Bungo Nakamura, [25.02.21 13:53]
Any plans for cooperation with PornHub?? NFTs for adults: )
Dan | ECOMI, [25.02.21 13:55]
[In reply to Bungo Nakamura]
hahaha I have been asked this many times ... could be cool?
Jack, [25.02.21 13:54]
🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀
Dan | ECOMI, [25.02.21 13:55]
[In reply to Jack]
Here's hoping with you guys support!
John Do, [25.02.21 13:54]
What is the relationship with $ecom?
Rhys (ECOMI- Will not ask for ETH), [25.02.21 13:54]
[In reply to John Do]
there is NO relationship with ecom
👉👉 our token is the OMI token 👈👈
The Cat 🐱 [BitboyCrypto], [25.02.21 13:55]
[In reply to Oscar Downing]
5 mins
Luke Sullivan, [25.02.21 13:54]
How come you are only available on BitForex for now? Are you going to be available on any other sites any time soon?
Dan | ECOMI, [25.02.21 13:56]
[In reply to Luke Sullivan]
Stay tuned, new exchange coming soon!
steve, [25.02.21 13:56]
What is your "rarity" higherarchy, is secret rare the rarest?
Dan | ECOMI, [25.02.21 13:56]
[In reply to steve]
Secret-rare is the most rare / lowest editon
Wunderbar, [25.02.21 13:56]
Hi Rhys, when is the marketing scaling up, so everyone get to know Ecomi?
Rhys (ECOMI- Will not ask for ETH), [25.02.21 13:56]
[In reply to Wunderbar]
we're already scaling it up 😊
Fetcher, [25.02.21 13:56]
Hi Dan!
NFTs are becoming a really big thing. I understand that Ecomi´s primary target will be the retail market - which is going to be extremly huge... How will ecomi explain the value of nfts to people so that they understand better?
Dan | ECOMI, [25.02.21 13:58]
[In reply to Fetcher]
We do this by attract the user with their fav brands and then a great digital collectible experience on top of that. Once in VeVe the mainstream users can learn more about NFTs and OMI
Dan | ECOMI, [25.02.21 13:57]
holy moley - can't keep up sorry guys 😅
IchiTakeru (Trader), [25.02.21 13:57]
Will gems always be 1:1 gem:1 usd, and will we be able to convert our gems from VeVe in to crypto / usd later down the line? Ie, if we auction an item off and wish to cash in on a rare gain?
Dan | ECOMI, [25.02.21 13:58]
[In reply to IchiTakeru (Trader)]
Yes and Yes
Kevin Barden, [25.02.21 13:57]
DEX and CEX announcements... when can we expect them?
Rhys (ECOMI- Will not ask for ETH), [25.02.21 13:57]
[In reply to Kevin Barden]
early march
NeoZen, [25.02.21 13:58]
When you say the collectibles stay within veve FOR NOW what are the potential scenarios expanding outside of veve?
Im getting mega 'Ready Player One' vibes, especially with that DeLorean!!! Could they potentially be used in games at some point?
Dan | ECOMI, [25.02.21 13:58]
[In reply to NeoZen]
Ready player one is the goal 😄😄
Rhys (ECOMI- Will not ask for ETH), [25.02.21 13:58]
the chat will be muted in a couple minutes team
Jerome Danks, [25.02.21 13:58]
Hey dan, What are the future plans for Ecomi/Veve's digital collectibles to remain competitive? virtual reality action figures, battles, races, etc?
Dan | ECOMI, [25.02.21 13:59]
[In reply to Jerome Danks]
All of the above! We has lots of epic plans and ideas
Beniamin, [25.02.21 14:00]
Any plan for Warner Bros licences ? Like old school cartoon ntfs
Rhys (ECOMI- Will not ask for ETH), [25.02.21 14:00]
[In reply to Beniamin]
we already have the WB license
Michael Brauer, [25.02.21 13:52]
Hi Dan
When can we expect the final release of the IOS app?
Rhys (ECOMI- Will not ask for ETH), [25.02.21 14:06]
[In reply to Michael Brauer]
the iOS app is already live 👍
NeoZen, [25.02.21 13:52]
When this platform starts to have 100,000s or millions of people have you figured out how to distriubute drops like ultra and secret rare when there are only a couple 100 of them but thousands of simultaneous people wanting to buy them?
Rhys (ECOMI- Will not ask for ETH), [25.02.21 14:07]
[In reply to NeoZen]
drop days happen the same time and day every week. 8 am PST (although they're 7 am right now due to daylight savings hours).
You have to be in it to win it!
Autonomous Evolution version SE-778H, [25.02.21 13:52]
Will there be location based NFT's? Like comic conventions, etc...?
Rhys (ECOMI- Will not ask for ETH), [25.02.21 14:04]
[In reply to Autonomous Evolution version SE-778H]
absolutely, VeVe has a geo-locating ability, so we can make collectibles available at special events like Comicon
Bbusy, [25.02.21 13:57]
Explain the burn mechanism so people understand the potential from by using the tokenmetrics side and not just look at the marketcap
Rhys (ECOMI- Will not ask for ETH), [25.02.21 14:02]
[In reply to Bbusy]
The deflationary token - The OMI token has two uses: firstly, it is the utility token of the VeVe NFT ecosystem, in that every new NFT purchase uses OMI, and in not too distant future staking it/being a liquidity provider will enable you to acquire certain exceptionally rare and valuable NFTs. Secondly, you need OMI tokens (which in the app are actually Gems) in order to participate in the peer-to-peer market.
The mechanics are designed to create token scarcity as adoption and NFT sales grow, due to the deflationary nature of the token supply.
The normie stablecoin - In order to make the experience of using the app as seamless as possible for mainstream users who would prefer to just buy NFTs and don't want to engage with the volatility of crypto, there is an in-app stablecoin called "gems" each of which always represents $1. So these mainstream users can buy gems with their fiat, safe in the knowledge that if they leave them in their wallet for a month before they come back to buy an NFT, 1 gem will still be worth $1.
Under the hood, however, every transaction runs on OMI. Let's go through the two main types of transaction to understand how this works in practice.
Mechanics of new NFT purchases - When a user buys a new NFT by converting their OMI into in-app gems and swapping those for the NFT, all of that OMI is permanently burned, reducing the circulating supply. The OMI tokens that were swapped actually get held in a wallet, called the Vault wallet, and when the Gems that represent them are spent in the store, they’re burnt.
If on the other hand a user who does not own OMI directly buys in-app gems with cash (fiat), then the equivalent amount of OMI (based on the spot rate at that time) is taken out of the in-app reserve and held in the Vault wallet. When those Gems are spent in the Store, the underlying OMI are again burnt, reducing the reserve supply. In order to keep the reserve liquid, 10% of the money used for store purchases (minus platform fees) is used to buy back OMI from exchanges.
Example: If a user spends $100 on a new NFT, the equivalent in OMI is permanently burned and $10 is spent on buybacks from exchanges.
Mechanics of secondary market NFT purchases-If a user swaps their OMI into Gems and then buys an NFT on the secondary market from another user, those Gems (and therefore the underlying OMI) are transferred to the seller. If they are then spent on a purchase in the VeVe Store, those OMI are burnt
If a user chooses to buy those gems with fiat, 100% of that money (minus platform fees) is used to buy back OMI from exchanges. I repeat, 100%. This is a big deal, as the secondary market is expected to be bigger than the primary market.
Example: If a user spends $100 on a secondary market purchase, after Google/Apple fees, $70 is spent on buybacks.
Basically, when purchases are made in the Store (whether it's with fiat or Gems), OMI tokens get burnt.
Right now that is the only way the tokens get burnt. When we implement the coming changes to allow Gem > OMI swaps, there will be a 2.5% fee placed In the Market (peer to peer marketplace), to be paid by the seller, which is also burnt.
So both marketplaces will burn OMI at that point. e.g. i sell a collectible in the market for 100 Gems. 2.5 Gems is burnt (which is actually 2.5 Gems worth of OMI, gets moved from the Vault wallet which is where it is currently being held, and sent to the out of circulation wallet).
the buybacks come from:
10% of sales in the Store
100% of the revenue generated from the sale of Gems (which is done with fiat).
Omar Rodriguez, [25.02.21 13:59]
OMI MERCH!?!?! VEVE MERCH?
Dan | ECOMI, [25.02.21 14:00]
[In reply to Omar Rodriguez]
Some of the community has created this epic merch - https://teespring.com/h-i-g-h-e-r-dead-inside
Tristeboi, [25.02.21 13:59]
takashi murakami collab
ALAN THE ALIEN, [25.02.21 13:59]
[In reply to Tristeboi]
THIS AND WE NEED KAWS!
Dan | ECOMI, [25.02.21 14:02]
[In reply to ALAN THE ALIEN]
This will be epic.. love Kaws!
Sean Newman, [25.02.21 14:00]
🚀🚀🚀. DEAR OMNI TEAM How are you guys planning on expanding into the VR space ? 🚀🚀🚀🚀🤡🤡
Dan | ECOMI, [25.02.21 14:01]
[In reply to Sean Newman]
yes!
Ryan, [25.02.21 14:00]
Hi Dan.
As far as I’m aware, there’s a difference between paying with gems and USD. For example I can’t buy some with gems but only USD. Will this be changed in future?
Thank you.
Dan | ECOMI, [25.02.21 14:00]
[In reply to Ryan]
Moving fwd, Gems will be the ubiquitious currency in the app - having both Gems and USD became to painful
Complex, [25.02.21 14:00]
Dan - what did you eat for dinner ?
Dan | ECOMI, [25.02.21 14:06]
[In reply to Complex]
Potatoes
liron klomp, [25.02.21 14:00]
Why aren't you collaborating with Pokemon, whilst mr Khan is linked to setting up Pokemon?
Dan | ECOMI, [25.02.21 14:01]
[In reply to liron klomp]
They are the biggest brand in the world - let us get out of Beta first and go from there haha
Ryan Donnelly | TITANBLOCK, [25.02.21 14:00]
I heard that OMI is the blue-chip of NFT's. I think this interview has proven that.
Dan | ECOMI, [25.02.21 14:05]
[In reply to Ryan Donnelly | TITANBLOCK]
Thank you @ryandonz
Ben Fox, [25.02.21 14:00]
Hi Dan loved the AMA tonight! As you eluded to earlier, with purchasing NFT's from VeVe being so accesible to non-crypto users, where do you see the future scale of Veve being or where would you like it to go?
Dan | ECOMI, [25.02.21 14:02]
[In reply to Ben Fox]
Netflix for digital collectible and other digital products in an immersive digital collectible ecosystem
The Cat 🐱 [BitboyCrypto], [25.02.21 14:01]
@DanECOMI you may now begin answering some questions
You can either choose the best questions for the winners or answer as many as you can handle.
Rhys (ECOMI- Will not ask for ETH), [25.02.21 14:03]
(im going to chime in and help where I can team)
Dan | ECOMI, [25.02.21 14:03]
@ecomi_rhys 👌
Oky ..
let me see ... there are too many good ones!! argh
The Cat 🐱 [BitboyCrypto], [25.02.21 14:04]
All up to you guys on how many NFTs you want to give away. 😉
Shaun Pierso, [25.02.21 13:59]
[In reply to Dan | ECOMI]
So my question would to be directed towards this veveverse you speak of. The concept I have thought of this is a virtual world among the users within the platform? For the aspect of trading potentially racing and other things. Also would this veveverse have VR malls to go shopping from top brands since malls are slowly going away as we go into the digital world.
Dan | ECOMI, [25.02.21 14:06]
[In reply to Shaun Pierso]
The winner is, Shaun!
aisha, [25.02.21 13:52]
Dan, can you please clarify to new/interested investors that the ticker for ECOMI is $OMI and not $ECOM. Many have been purchasing the wrong token. Thank you :)
Rhys (ECOMI- Will not ask for ETH), [25.02.21 14:07]
[In reply to aisha]
I will re-iterate this.
Our token is called OMI
we are NOT the 'ecom' token
The Cat 🐱 [BitboyCrypto], [25.02.21 14:07]
Dan | ECOMI, [25.02.21 14:07]
OMI and ECOMI
Tommy, [25.02.21 13:51]
Dan, is the streetfighter NFT on WAX in anyway affecting your licensing with capcom? Will we see SF NFT on VeVe?
Rhys (ECOMI- Will not ask for ETH), [25.02.21 14:09]
[In reply to Tommy]
We have announed the SF brand is coming to VeVe, the licensing deals are different, wax is making...cards.. of some sort?
We have beautiful high res 3D collectibles with interactive AR
James, [25.02.21 13:51]
Hey y’all.. kinda nervous to ask but my questions, haha.
1. Do you think it it becomes big enough that we could incorporate our owned NFTs into emoji type conversation on iOS and Android? That would be mass adoption in seconds. If it’s a dumb question just mute me lol.
2. Will you release daily OMI burn numbers somewhere once the app is fully up and running?
I love the VeVe app tho! Keep up the good work!
Dan | ECOMI, [25.02.21 14:16]
[In reply to James]
Thanks James! The options for NFTs in the future is very wide and we will be looking into many opportunities
Burn number can be see in this spreadhseet, kindly created by one of our community members!
https://docs.google.com/spreadsheets/d/1zt2Om_WtkECcUQf-gjkYSw31XrH4fRGEpE5KiaWszws/edit#gid=0
Mexifries, [25.02.21 13:52]
what is the accurate market cap and circulating supply of $OMI? Coin tracking sites dont seem to have accurate info.
Rhys (ECOMI- Will not ask for ETH), [25.02.21 14:08]
[In reply to Mexifries]
we will be updating these details as soon as possible, not sure why none of them have the correct details
Unix Demon, [25.02.21 13:53]
do you have any anime/manga licences?
Dan | ECOMI, [25.02.21 14:13]
[In reply to Unix Demon]
In the works - stay tuned
Beskar, [25.02.21 13:54]
Have you considered Capcom?
Rhys (ECOMI- Will not ask for ETH), [25.02.21 14:09]
[In reply to Beskar]
already announced
here are the released brands so far
1. TOKIDOKI: Mermicorn, Donutella, Unicorn, and Cactus Friends
2. CBS: Star Trek - The Next Generation, Picard, and Discovery
3. CARTOON NETWORK: Adventure Time, Powerpuff Girls, We Bare Bears, and Tuzki
4. CAPCOM: Monster Hunter, Monster Hunter - Iceborne, and Street Fighter
5. Warner Bros: DC Collectables, Harley Quinn, The Joker, Superman, and Batman
6. The NFL
7. Jurassic park
8. Back to the Future
9. Ultraman
10. Ghost Busters
11. Fast and the Furious
12. CryptoZoic Cryptkins
13. GM Motors
Jason Wang, [25.02.21 13:54]
would there be an interactive multiplayer ar experience in the future where u can interact with others?
Dan | ECOMI, [25.02.21 14:14]
[In reply to Jason Wang]
Yep
Autonomous Evolution version SE-778H, [25.02.21 13:54]
What about the Anime environment? Will we see some DBZ or All Might?
Rhys (ECOMI- Will not ask for ETH), [25.02.21 14:11]
[In reply to Autonomous Evolution version SE-778H]
Anime is indeed one of our verticles. We are acquiring brands and licenses in Pop Culture, Sports, Gaming, Film & TV, Anime & Animation, Vehicles and Celebrities
Max E, [25.02.21 13:54]
Will there be a web app that's similar to the mobile app?
Rhys (ECOMI- Will not ask for ETH), [25.02.21 14:12]
[In reply to Max E]
yep! web platform development is underway, we'll keep you updated in our quarterly updates, so keep an eye out for those. I dont think i can share links here, but you'll find our blog links in the main ECOMI chat, in the pinned message
Beskar, [25.02.21 13:55]
Hello DAN, why are there regional restrictions on some of the NFT's
Dan | ECOMI, [25.02.21 14:14]
[In reply to Beskar]
The licensor determine this, not us. But we aim to have as many as we can globally available
Anthony Alfieri, [25.02.21 13:56]
Is there any future products that will be compatible with Veve nfts like an actual physical shelf you can mount with interoperability involving wearables or something we can display and see our collectibles or something along those lines?
Dan | ECOMI, [25.02.21 14:12]
[In reply to Anthony Alfieri]
Great question - winner
And yes, coming this year
Rhys (ECOMI- Will not ask for ETH), [25.02.21 14:15]
[In reply to Anthony Alfieri]
it's been built for when we're all wearing AR glasses. so it will do away with the need for physical anchors, and in the digital world you need premium digital content, which VeVe provides
Sean Newman, [25.02.21 13:57]
Dan do you think dogecoin will go to the moon?
Dan | ECOMI, [25.02.21 14:12]
[In reply to Sean Newman]
Didn't it already go there? 😅
Sun Sunders, [25.02.21 13:57]
Want to thank Dan and the team for their great product and ushering in a new era for cllecting and collectors. Will the team consider StarWars license in the future because a whole generation grew up with this and I am a huge fan of your VeVe app already!!
Dan | ECOMI, [25.02.21 14:12]
[In reply to Sun Sunders]
Who wouldn't consider Star Wars haha. I'm a nerd so would love to have it
U A, [25.02.21 13:57]
Hi Dan, I live in the netherlands and use a hawewei phone. I couldn't install the app. it said your device isn't compatible with this version. Are there accessibility issues and any idea why?
Dan | ECOMI, [25.02.21 14:11]
[In reply to U A]
More devices will be compatible in the coming months
NeoZen, [25.02.21 13:57]
When this platform starts to have 100,000s or millions of people have you figured out how to distriubute drops like ultra and secret rare when there are only a couple 100 of them but thousands of simultaneous people wanting to buy them?
Dan | ECOMI, [25.02.21 14:10]
[In reply to NeoZen]
Great question - Another winner
Lala, [25.02.21 14:00]
How will it be possible to trade OMi on other exchanges when on Uniswap only a wrapped version on OMi will be provided ???
Rhys (ECOMI- Will not ask for ETH), [25.02.21 14:13]
[In reply to Lala]
there will be a wrapped version yes, wOMI to use it on ethereum. We're building our own interface so we can also incentivise LP's with some really fun stuff!
Ben Fox, [25.02.21 14:00]
Hi Dan loved the AMA tonight! As you eluded to earlier, with purchasing NFT's from VeVe being so accesible to non-crypto users, where do you see the future scale of Veve being or where would you like it to go?
Rhys (ECOMI- Will not ask for ETH), [25.02.21 14:12]
[In reply to Ben Fox]
into the millliiooonnssssssss
Dan | ECOMI, [25.02.21 14:07]
How many winners do I choose?
The Cat 🐱 [BitboyCrypto], [25.02.21 14:08]
[In reply to Dan | ECOMI]
As many as you feel is appropriate
Please note the handles of the winners you are choosing.
Dan | ECOMI, [25.02.21 14:18]
Oky team, I need to get back to the grind - sorry I couldn't answer all your questions but please jump into our TG and our community mods can help you - https://t.me/ecomiout
Rhys (ECOMI- Will not ask for ETH), [25.02.21 14:19]
hey guys i can't post links so i'll put a space in it, but our TG is t. me/ ecomi
Rhys (ECOMI- Will not ask for ETH), [25.02.21 14:20]
[In reply to Dan | ECOMI]
typo in this one!
The Cat 🐱 [BitboyCrypto], [25.02.21 14:20]
You can post links
Rhys (ECOMI- Will not ask for ETH), [25.02.21 14:20]
your bot clears them
i've tried to post a few but they disappear
The Cat 🐱 [BitboyCrypto], [25.02.21 14:20]
Clears only telegram lol
Sorry
http://t.me/ecomi
Rhys (ECOMI- Will not ask for ETH), [25.02.21 14:20]
hahaha thanks mate
we have an announcement channel too that will make your lives easier
not quite
just pm'd it to you. it's / ecomiANN
The Cat 🐱 [BitboyCrypto], [25.02.21 14:21]
Telegram
t.me/ecomiann
Rhys (ECOMI- Will not ask for ETH), [25.02.21 14:22]
awesome, thanks for tuning in everyone! hope you're all excited as we are!
and to everyone who's coming on the ride- welcome to the ECOMI Fam!
The Cat 🐱 [BitboyCrypto], [25.02.21 14:22]
That includes me
I will be helping these guys and I am selective with who I help.
Great AMA guys thanks for coming!
How to Buy OMI - A Step by Step Guide
This is a step-by-step guide on how to buy the OMI token securely. This guide is for devices compatible with Windows 10 and newer, MacOS 10.11 and higher, Android OS, and Apple iOS.
The OMI token "serves as a medium of exchange," where you buy, sell, or trade your digital collectibles on the VeVe app.[1] ECOMI Technologies PTE Ltd, based out of Singapore initially listed their OMI token through BitForex.com[2] on May 13, 2019.
Contents
Step 1 - Create a Fiat Wallet With a Crypto Exchange (This guide will use Crypto.com)
Step 2 - Purchase Ethereum
Step 3 - Create a BitForex Wallet and Setup Security Settings
Step 4 - Register BitForex.com Wallet in Crypto.com Wallet
Step 5 - Transfer Ethereum to BitForex Wallet
Step 6 - Transfer Ethereum to Spot Wallet
Step 7 - Buy USDT tokens
Step 8 - Buy OMI token
The initial step is to get a crypto-fiat wallet so that you can purchase Ethereum cryptocurrency with U.S. dollars. If you already have Ethereum, go to Step 3.
Step 1 - Create a Fiat Wallet with a Crypto Exchange
a) U.S. Citizens (excludes New York)
i) Create a Crypto.com Wallet Please use the referral code xkh64rqrh2
b) U.S. Citizens (excludes Alabama, Rhode Island, and Hawaii)
i) Create a Binance.us Wallet
c) International (excludes U.S. citizens)
i) Create a Binance.com Wallet
Step 2 - Purchase Ethereum
Be forewarned this is the step that can be burdensome because your cryptocurrency purchase may get blocked depending on your bank/credit card company's policy on cryptocurrency purchases. This may result in many irate calls to your bank requesting them to take a hold off of your account. Some may refuse and you may need to change banks. USAA is a great bank that allows cryptocurrency purchases.
Note: I recommend you use a debit card by Visa.
a) Log in to Crypto.com App and select Trade
b) Select Buy
c) Select Ethereum
d) Select + Add Credit or Debit Card
e) Input your card information and select Add Card
f) Input the amount of Ethereum to purchase and select Buy (Amount) ETH
g) Select the box I understand that a 0.0%(Note the example is during a no-fee promotion) is required for every card purchase and select Continue
h) Select Confirm
i) Processing screen will appear
j) Enter Passcode
k) Verify your transaction (this is an example from USAA)
i) Select No(so that you can conduct the transaction on the App) and select Next
ii) Select how your temporary code gets sent to you via email or phone text and select Next
iii) Enter the temporary code (Received through email or text) and select Submit
l) You have successfully purchased Ethereum and will get the following message.Tap anywhere to close the message.
m) You will receive an email from Crypto.com confirming your purchase. Note: It may take a while for your transaction to go through (sometimes 2+ hours)
Step 3 - Create a BitForex Wallet and Setup Security Settings
Prior to performing this step, you must have Google Authenticator installed on your mobile phone.
a) Create a BitForex Wallet and Spot Trading Account
b) Setup Google Authenticator secondary passcode
i) Click on the dropdown
ii) SelectSecurity Settings
iii) Click on Bind Now under Google Authenticator
iv) Click Send (a verification code will be sent to your email address)
v) Enter the Email Verification Code
vi) Open the Google Authenticator App and click +. You must have Google Authenticator installed on your mobile phone in order to complete this step.
vii) Scan the QR code. A new line item Bitforex (This email address is being protected from spambots. You need JavaScript enabled to view it.) will appear.
viii) Enter the Google Verification Code from the Google Authenticator Bitforex code and select Confirm
ix) Once complete, the Google Authenticator will have a Checkmark
c) Set up Trading Password (This is mandatory for all future trades)
i) Click on Go to settings under Trading Password
ii) Enter a 6-digit password
iii) Go to your email for the verification code and enter the Verification Code
iv) Open the Google Authenticator App and enter the Google Verification Code
v) Once complete, the Trading Password will be checked
Step 4 - Register BitForex.com Wallet in Crypto.com Wallet
a) Open Crypto.com app and click on Transfer
b) Click on Withdraw
c) Click on Crypto
d) Click on External Wallet
e) Select Add Wallet Address
f) Select Ethereum (Note this example is based on Ethereum)
g) Open Bitforex and click on Deposit under Ethereum.
h) Click on QR Code
i) This will open the QR code for you to scan into your Crypto.com app
j) On your Crypto.com app select the QR code symbol
k) Scan the BitForex QR code image and the Ethereum Address will populate on your phone. Input WALLET NAME Bitforex ETH and select Continue.
l) The Check your email to confirm your new wallet address screen will appear. Select Open Email.
m) Open your email from your mobile phone and select Confirm Withdrawal Address
n) The address will appear in your Withdrawal Whitelist (keep this open for Step 5)
Step 5 - Transfer Ethereum from Crypto.com Wallet to BitForex Wallet
a) Click on Withdraw ETH
b) Select how much ETH in US dollars to transfer, enter notes in Send Note (Optional) and click Withdraw
c) Enter Passcode
d) Tap Anywhere to close the Your ETH withdrawal request has been submitted screen
e) You will receive an email notification also confirming the withdrawal request has been received. The transaction will take up to 2+ hours (depending on the time of day)
f) Once the withdrawal is complete, you will receive an email notification
Step 6- Transfer ETH from BitForex Wallet to Spot Account
a) On Bitforex, click X to close the QR code window
b) Click on Transfer
c) Select ETH under Coin/Token, Spot Account, Transfer All, and Continue
Step 7 - Convert Cryptocurrency to USDT (Tether)
a) Sell ETH (Ethereum) for USDT (Tether)
Step 8- Buy OMI (Congratulations on getting this far, you're almost there)
a) Buy OMI Token with USDT (Tether)
References
- What is ECOMI (OMI)? Retrieved 16 March 2021.
- Ecomi (OMI) Token Sale Has Come to a Successful Close. Retrieved 16 March 2021.
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