One of the most exciting developments to coincide with the release of ECOMI Collect is the ECOMI Collect Digital Wallet (ECDW). This innovative and physical product is being built to allow you to safely and securely store your digital collectibles (as non-fungible tokens) offline and in cold storage. Better yet, it will be readily available in some of the worlds largest retail stores!
What Is the ECOMI Collect Digital Wallet?
Built using the impressive Secure Wallet technology, the ECDW is a physical cold storage device. It is designed to store your digital collectibles, as well as securely store the OMI token- the token of the ECOMI ecosystem. OMI tokens are then used to purchase your collectibles as non-fungible tokens (NFTs) or can be staked (held at the address) to increase your master collector rating.
The Wallet integrates with the ECOMI Collect app, allowing you to seamlessly move your collectibles from the apps in-built hot wallet to more secure cold storage.
- Stores digital collectibles as non-fungible tokens (NFTs)
- Same size and thickness as a credit card- almost weightless at a meager 20 grams
- Up to 4 weeks battery with everyday use (this is exceptionally longer if rarely used)
- Heat/cold resistant
- Durable- the ECDW has more than 15 degrees of flex and can stand up to rough treatment
- CC EAL 5+ Security
- Retail product
Similar to the Secure Wallet, the ECDW pairs wirelessly with the ECOMI Collect app. Once connected and paired, users can utilise their Hardware Wallet to authorise the transfers of their digital collectibles and assets.
When transferring collectibles or OMI token ownership, the user must physically approve the transaction by pressing the button on the ECDW, ensuring that no transactions can take place by a malicious third party.
Moreover, if the ECDW is lost, the user can recover their digital collectibles and OMI tokens using the seed numbers generated during the setup.
Is It the Same as the Secure Wallet?
Although the ECDW is built using the same security standards as the Secure Wallet, it is an independent device. The Secure Wallet is a more robust hardware wallet, with the option to store crypto-currencies, digital collectibles and before long other NFC enabled cards.
The ECOMI Collect Digital Wallet, on the other hand, is designed to only store digital collectibles (and the OMI token). It will, however, be one of the first cold storage devices to have NFT storage capabilities, and the first to be globally distributed as a collector pack- keep reading for more info!
Get Ready to Retail
Right now the digital collectible community is one that is solely online, and relatively obscure. Although recent developments are bringing the industry into the limelight, is still in its infancy (the first NFTs were minted in December 2017).
Owing to the extensive industry experience brought by CEO David Yu, and head of licensing Al Kahn, it was recognised early on that although dealing with digital collectibles, people still need and want something tangible.
As such, one of the key strengths of the ECOMI Collect Digital Wallet is that it will be a shelf-ready retail product.
Although the first release of the product will look similar to the Secure Wallet, we are able to use the intellectual property/licenses acquired to make the product more appealing to mainstream audiences (as seen in the image above). Future versions will also have their own screen, allowing you to view your digital collectibles without opening the ECOMI Collect app.
We want to go for the mass market, so you don’t actually need to know about blockchain. So we have a retail product that will be available, (because) collectors still want to have ownership of something even though it’s digital.
We can make them unique as well by decorating the interface with limited edition artwork from the publishers/licenses, it will have an interactive screen so you can view your collectibles, and the back of it is also one of the activation platforms for the augmented reality.
— David Yu
AMA with Ivan on Tech
Retail Starter Pack
Another key strength of the ECOMI Collet Digital Wallet is its release as part of a digital collectors starter pack. With a retail price around $29.99 USD, the starter pack comes with a redemption code for a ‘rare’ digital collectible (also valued at $29.99). So in purchasing the starter pack you actually get the ECDW for free, allowing you to store multiple NFTs and show them off to your friends!
The hardware cards themselves will also be released as special/limited editions, turning them into a collectible item as well.
Retail partnerships are yet to be announced, however, both David and Al have decades of experience in global distribution and go-to-market strategies. You can expect to see the ECOMI Collect starter pack in local tech and gaming stores, convenience stores, as well as showcased at gaming and collecting conventions.
The ECOMI Collect Digital Wallet and retail starter packs are expected to be released in Q4 2019. This will be dependant on market conditions, and adoption of the ECOMI Collect platform, to ensure that we are releasing a versatile, capable, and saleable product. Other information and retail partnerships will be released closer to launch!
If you want to learn more about ECOMI Collect, and the amazing range of digital products we’re bringing to market, check out the rest of our series:
ECOMI Collect Part 1: What is ECOMI Collect?
The collectibles industry is poised to change for the better, and thanks to ECOMI Collect, they’re about to go digital!
ECOMI Collect Part 2: How Does ECOMI Collect work?
Dive into some of the underlying tech to see how we mint a new digital collectible!
ECOMI Collect Part 3: Augmenting Reality!
We now have a myriad of new digital experiences available to us- so how is ECOMI Collect taking advantage of…
ECOMI Collect part 4: Marketplace, Purchasing, and Pricing
Want to know how to acquire your favourite digital collectibles?!
ECOMI is a technology company based in Singapore and is leading the way in the emerging digital collectibles space. ECOMI offers a one-stop-shop for digital collectibles through the ECOMI Collect app bringing pop culture and entertainment into the 21st century.
The Collect app allows users to experience true ownership of premium digital collectibles. Through the app marketplace, users can obtain common, rare, or one-of-a-kind digital collectibles, share these across the social network service, and exchange them with the Collect community, all from the palm of their hand.
ECOMI sees digital collectibles as a new asset class which offers intellectual property owners the opportunity for new revenue streams in the digital landscape. Digital streaming, gaming, and in-app purchasing have become a multibillion-dollar market and the next to join this digital trend is the pop culture and collectibles industry.