The true capabilities of VE-VE are yet to be revealed, however, it’s continued development represents a true marriage of new technologies. Although we’ve looked at these individually in the past, it’s important to understand how these technologies intersect and integrate into the ECOMI ecosystem, to get a true sense of the achievements and future capabilities of the digital collectible platform.
What is the VE-VE app?
Touted as the ‘Netflix of digital collectibles’ by the ECOMI COO, Dan Crothers, VE-VE is leading the way in the emerging digital collectibles space. ECOMI offers a one-stop-shop for digital collectibles through the VE-VE 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.
Why Is It a Big Deal?
The Collect platform is a true intersection of new and evolving technologies. I will touch on these in more detail, but so you get a general sense of the all-in-one package, VE-VE:
- Uses blockchain/distributed ledger technology to process transactions, as well as to generate and ‘mint’ digital collectibles as non-fungible tokens (this wasn’t even possible until 2017).
- The minting of NFT’s also allows us to create digital scarcity and rarity, again, this only became possible recently.
- Employs a clever, deflationary token economic system, which is linked directly to the sale of products (digital collectibles).
- Offers both hot and cold wallet storage, through the app itself, and our hardware devices- the ECOMI Secure Wallet and soon the Collect Digital Wallet.
- Uses augmented reality technology to bring your collectibles to life, place and create Scenes, dioramas and more.
- In-app gaming, a continuously evolving industry, and multibillion-dollar market.
- Social media integration and sharing.
- Social media on-boarding to introduce new people to the crypto/blockchain space with ease.
- Leverages licensing and intellectual property to create digital collectibles based on some of the worlds biggest brands.
- Allows all of these technologies to be delivered to your pocket through a simple to use smartphone app!
VE-VE: Distributed Ledger Technology
VE-VE is a marketplace where users can buy, swap, sell and store digital assets in the form of digital collectible non-fungible tokens (NFTs). The authenticity, scarcity, and ownership of digital collectibles are managed using Distributed Ledger Technology (DLT). Before blockchain/distributed ledger technology (DLT), it was impossible to create and guarantee that digital files were originals, or individually identifiable.
Now, however, the primary characteristics of DLT- namely immutability- allow digital files to be traced and verified from creation, through to point of sale and eventual ownership by the user. Through the use of non-fungible tokens, VE-VE can create and distribute premium, licensed digital collectibles and verify their authenticity and ownership!
This has created an entirely new market sector, one in which intellectual property owners now have a new means to distribute their products, and fans/collectors are given new opportunities to own digital assets. For more information about the use of DLT, please see:
VE-VE also leverages DLT in the creation and functions of our token economic system. With our own token- the OMI token- we are able to quickly and efficiently facilitate:
- Microtransactions and payments.
- The rewarding of users for using OMI tokens through the master collector program.
- Tracing and verifying payments for, and ownership of, digital collectibles.
- A deflationary currency through the use of smart contracts, by reducing the overall supply of tokens each time a digital collectible (NFT) is purchased.
- The creation and maintenance of a second-hand marketplace (peer-to-peer) to allow you to purchase, trade and sell your collectibles to other users, without ever having to leave the VE-VE app.
For more information about the VE-VE marketplace, and our tokenomic modeling, please see the following:
Securely Store Your Digital Assets
Becoming the new owner of a digital collectible is a big deal, but knowing how to safely store them is just as important. When you take into account some digital collectibles have sold for more than $100k, the potential future value of your digital goods is definitely worth securing.
However, there are huge barriers to entry when entering this space, as it is difficult to understand the nature and use of cryptography, and how this is used to create cryptocurrencies and digital assets, let alone how to properly utilize this new technology to store and protect your assets.
Thankfully, ECOMI has solved these problems and dramatically reduced the learning curve by creating simple to use devices, and integrating them with a familiar and easy to understand smartphone app.
With two cold storage solutions- the ECOMI Secure Wallet and the VE-VE Digital Wallet- as well as our soon-to-be-available hot wallet solution through the ECOMI app, the company has integrated these cryptographic technologies to help you protect your new digital assets and currencies.
The Secure Wallet
Currently, the ECOMI Secure Wallet is the most robust cold storage device on the market. It is not only wireless, waterproof and incredibly durable, it also offers a long life battery, and is the size and thickness of a credit card!
This truly portable and innovative device uses cryptographic technology to ensure the utmost levels of security, with a hardware secure element which employs CC EAL5+ (the highest level available and used in government level deployments), and easy recovery methods if you ever lose your hardware card or phone. Moreover, the Secure Wallet pairs with the ECOMI app to make our cold storage solution the easiest to use and understand.
Currently, the ECOMI Secure Wallet can:
- Store large cap cryptocurrencies like Bitcoin, Litecoin, Ether, XRP and Bitcoin cash.
- Store more than 600+ ERC20 tokens
- Store GoChain and our own OMI token
- Store AND display your favourite (existing) digital collectibles based on the ERC721 token standard
- Convert and exchange your cryptocurrencies from within the app itself, further protecting you and removing the need to move your tokens to and from exchanges.
In the next ECOMI app update, you’ll also be able to use the ECOMI app as a hot wallet. This means you won’t need the cold storage device to begin to take control of your digital assets (although it is the safest way to store them). The Secure Wallet is available now in our online store, and you can learn more about it there as well!
VE-VE Digital Wallet
The VE-VE Digital Wallet is very similar in appearance and employs the same security and innovative design features of the Secure Wallet. It is designed to integrate solely with the VE-VE app, however, and as such will not be the full-featured device that the Secure Wallet is.
Rather, this cold storage device will hold your ECOMI digital collectibles (based on the GO20 NFT standard) as well as the OMI token. It is also designed to retail at a lower price point of around $29.95 USD, and be a shelf-ready retail product. Owing to the integration of digital collectibles and this cold storage wallet, the Collect Digital Wallet will be sold both online and as a collectors starter pack in local tech stores, coming with a redeemable code for a rare digital collectible!
In creating this cold storage solution at a lower price point, ECOMI has also removed another barrier to entry. Furthermore, through use of our acquired licenses, we are able to re-design the wallet to feature your favourite brands and create limited edition wallets as well as digital collectibles, turning the hardware device into a collectible item as well!
For more information about the VE-VE Digital Wallet please see:
Bringing Your Digital Collectibles to Life!
Augmented reality (AR) superimposes computer-generated images/graphics over your current view of the real world, forming a composite image and allowing for a whole host of new visual information to be presented, in real time. Couple this with gestures, voice commands and physical actions, and AR has the potential to truly revolutionise our daily interactions with technology.
ECOMI has recognised and acknowledged the role that AR technology will play in our lives, and is already taking steps to ensure it is able to utilise AR to its fullest potential. Version one of VE-VE already has the capabilities to display your non-fungible tokens in augmented reality. Using the camera and capabilities of the modern smartphone, the Collect app recognises your surroundings, allowing you to display your digital collectibles, pin them to surfaces (such as your desk), and create Scenes and showrooms to show off to all your friends!
VE-VE augmented reality not only displays your digital collectibles as high quality/definition 3D renderings and models, but it also offers a number of other capabilities, including:
- Changing your collectible's appearance by adding skins, props, weapons and other items (also sold/distributed as NFTs).
- Building your own Scenes and diorama’s, by integrating with your real-world surroundings
- Actions and gestures (in the future these may represent attacks in gaming scenarios)
- The ability to show off your collection and share it with friends, by allowing you to create, display and share your collection and virtual worlds using social media and our digital showrooms!
As AR tech continues to develop, so too will your interactions with digital collectibles through VE-VE. Our partnerships with gaming and development companies, such as Big Red Button Entertainment and Pixion Games were formed with VE-VE and AR in mind, to fully utilise the capabilities of this technology, namely:
- Allowing for your collectibles to be used in gaming, both in-app and in AR
- The display and evolution of digital art and displays
- Building VE-VE to be used in conjunction/development with wearable AR, to create augmented gaming realities, 3-dimensional collectibles, and integrate these technologies into our every day lives.
With the first stages of gamification expected to roll out by the end of 2019, it won’t be long before you can battle your favourite digital collectibles, in AR, on your dining room table! Add to this the future capabilities/possibilities of floating giant, AR collectibles above a city, which can be viewed by anyone using the app, and the integration/capabilities of AR technology are only just beginning to be realised.
The VE-VE App
Sometimes it’s easy to forget that all of these technologies can be simple to use. So at this point, I wanted to remind you that the VE-VE platform, and all of these integrated technologies, are available in one central location- the VE-VE app.
By creating a smartphone app, this now-familiar technology literally puts collecting into your pocket, and into the pocket of millions of people around the world. Not only is it easy to get started thanks to our social media onboarding, that is, being able to create an account and get started with one button using Facebook or Twitter credentials, but all of the transactions and technology also occurs in the background.
As far as the user is concerned, all they have to do is:
- Download the VE-VE app
- Create an account
- Begin collecting!
Moreover, you can purchase your digital collectibles using a credit/debit card (again reducing barriers to entry) or OMI tokens, and they will instantly show up in your Collect wallet, at which point you can begin to explore our AR capabilities.
Furthermore, the first stages of our in-app gamification are expected before the year is out, and at that point, the capabilities of VE-VE will really start to heat up. You’ll have to wait a little longer for more information on that front, however!
Each of these technologies and integrations has been looked at in more detail on our blog, and if you would like to get a true sense of how they work, and how we are integrating licensing to create a premium collectible offering, please see the VE-VE series and interviews, available here.
It’s safe to say that the Collect app is poised to become the leader in the digital collectible space, and with mere months until it’s launch, we couldn’t be more excited to bring you these amazing technologies in one easy to use package.
About ECOMI
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 VE-VE 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.
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