ECOMI Collect part 4: Marketplace, Purchasing, and Pricing
ECOMI Collect is the world’s first marketplace for premium, licensed digital collectibles, and artwork. Earlier in this series, we covered using distributed ledger technology (DLT) to mint and generate new collectibles, as well as how ECOMI plans to use augmented reality to truly digitize this new collectible experience. Now, without further ado, let’s dive into the how, as we explore the ECOMI marketplace, and how to actually purchase your digital collectibles.
Creating Your ECOMI Collect Account
It probably comes as no surprise that new users must register an account with ECOMI Collect to begin their digital collection. This process has been kept deliberately simple, allowing the user to register manually via email, or by using the single sign-on service provided, allowing you to register with the click of a button using your Facebook, Twitter, or Google accounts.
Once registered, the user will also be prompted to enter their preferences for specific brands and interests. In doing so, content, games, and collectibles will be tailored to your suit your interests, and ensure you don’t miss a chance to acquire your favourite characters and artworks!
ECOMI Collect Marketplace
Once you have registered your account, you can browse through the myriad of brands and collectibles available. ECOMI Collect will make suggestions based on your preferences, however, you will also have the option to:
- Browse through individual brands and character series
- View new releases or recommended content
- Apply filters to narrow your search results
Each week, ECOMI will release new collectibles, known as an ‘ECOMI drop day,’ ensuring there is always new collectible content available, as well as other digital/virtual goods so you can continue to customize and personalize your digital collectible experience. Of course, all of these will then be available in augmented reality, and in Q3/4 this year will also feature in our in-app gaming. For more information, please see ECOMI Collect Part 3: Augmenting Reality.
It is also important to note that the ECOMI Master Collector program gives you the option to stake your OMI tokens to receive other rewards and network benefits. These include access to priority sales, limited edition releases, secret-rare collectibles and staking rewards for early participants.
Purchasing Your New Digital Collectible
Once you have found a collectible that you love, it’s time to become the new owner! Purchasing on ECOMI Collect couldn’t be simpler, and you have two options when acquiring a new digital collectible.
- Purchase via credit/debit card
ECOMI Collect is designed for mass-market adoption, and it is therefore imperative that purchasing be made simple and familiar. Therefore, users will have the option to use a credit/debit card to acquire their favourite collectible.
- Purchase using OMI tokens
The OMI token underpins transactions on ECOMI Collect, and the second-hand marketplace (more on this later). To be one of the first to purchase OMI tokens, you can participate in our token sale. Simply join us on Telegram for more information. Otherwise, once ECOMI Collect launches, OMI tokens will be available as an in-app purchase through the app itself.
When a purchase is made via a credit/debit card, the equivalent amount of OMI tokens will also be ‘spent,’ and locked permanently away in a separate contract. Similarly, when OMI tokens are used for purchasing, these tokens will be sent to the same contract. In this way, the total supply of OMI tokens is reduced each time a digital collectible is purchased.
ECOMI Collect Second Hand Marketplace
Aside from purchasing new licensed content from ECOMI, the app also facilitates a second hand or peer-to-peer marketplace. Peer to peer trading allows for the seamless transfer of digital collectibles from one ECOMI Collect user to another, across the world and instantaneously.
Moreover, through the app the second-hand marketplace allows you to connect with other users, browse social walls and collections, and acquire additional digital collectibles!
In the secondary market, users can:
- Browse through personal collections
- Post their digital collectibles for purchase or trade with other users
- Set their own sale price, or use one suggested by ECOMI Collect
- Increase their ‘Master Collector’ ranking and take advantage of other benefits.
The second-hand marketplace will solely use the OMI token to facilitate transactions.
How Much Will Digital Collectibles Cost?
Just as with physical collectibles, ECOMI will be releasing their digital counterparts in different series/seasons. There are also limited numbers released in each series, with varying levels of rarity. These range from:
- Common (62%)
- Uncommon (20%)
- Rare (10%)
- Ultra-rare (6%)
- Secret-rare (2%)
The total/actual number of digital collectibles released will vary from license to license. However, after 10 weeks, any unsold digital collectibles will be destroyed, effectively reducing the supply of each collectible/character available, and ensuring there is no market dilution. This may also mean that collectibles purchased as ‘common’ may eventually become rare as time goes on.
Although subject to change, the price/value of collectibles will vary depending on rarity, ranging from around $9 USD for common types, up to $550 USD for ultra-rare collectibles.
Moreover, ECOMI recognized early on that pricing on ECOMI Collect must remain consistent. As such, all collectibles purchased from ECOMI will be priced in both USD and OMI tokens, however, its value will be pegged to the USD.
This is not only important to assist with adoption, but also imperative to ensure that acquiring a new collectible is not affected by market fluctuations, as we are likely to see with the OMI token.
In the token sale, OMI can be purchased at a value of 1 OMI = 1 Sat (0.00000001 BTC).
At this rate, a USD $9 digital collectible would be worth approximately 245, 360 OMI tokens (at the time of writing 1 BTC is roughly equal to $3, 668 USD).
If the OMI token value was to double to 1 OMI = 2 Sats, a US$9 digital collectible would be worth 122, 680 OMI tokens.
At all times it is the user’s choice whether to make a purchase using a debit/credit card, or the OMI token.
We trust this gives you some insight into the economic system underpinning ECOMI Collect and gives you time to prepare for the worlds first premium, licensed digital collectibles platform. More specific information will be released closer to the launch of ECOMI Collect (Q2 2019).
NOTE: Figures and pricing are subject to change.
Please, also see:
ECOMI Collect Part 5: Digital Wallet and Retail Pack
ECOMI’s mission is to create the world’s best platform to purchase, trade and collect premium licensed digital collectibles. With user-friendly products and applications, ECOMI delivers the freedom to secure and control your digital assets, data, and cryptocurrencies from one user-friendly interface.