Non-fungible token or NFT is one of the hottest segments of the cryptocurrency market. The NFT sector was the best performing sector in 2020. The growth trajectory has been sustained in 2021 as well. Non-fungible tokens are essentially certificates of ownership of a physical or digital asset. This makes them non-fungible as they cannot be replicated and the original asset stays with the owner – more like copyrights. The NFT technology has opened the floor for a new debate on the potential of blockchain technology.
However, while it is one of the hottest segments of the cryptocurrency market it has its own fair share of problems. Ecomi is a platform that is aiming to solve the problems of the NFT sector. Let’s get into its details!
What is Ecomi?
Ecomi is a Singapore-based company which has the support of Orbis Blockchain Technologies. The main offering of the Ecomi platform is the VeVe application and Ecomi Secure Wallet. The aim of the firm is to inculcate the popular culture into the digital realm with the help of NFTs. The company has a firm belief in the potential of the NFT technology and sees a bright future. Ecomi wants to help the growth and development of the technology by being at the forefronts of solving the key problems.
Ecomi was founded in 2017 but the project gained popularity in 2020 when the VeVe application was launched. VeVe is a next-generation marketplace for non-fungible tokens. Users can utilize the application to buy, sell, share and trade any kind of NFT in just a few simple steps.
The Ecomi platform functions through its native token, OMI. OMI has a supply of 750 billion tokens; however, it employs a deflationary mechanism. This means that the tokens that are spent on NFTs are eliminated from the market.
The development of the VeVe has not been completed yet as it was only launched in December 2020. However, the platform has garnered attention like no other. The VeVe application makes NFTs easy and convenient and this has contributed to the success of the platform. Moreover, the NFT is considered to be one of the hottest sectors of the crypto market and has a good growth potential. The NFT sector will also pull Ecomi and VeVe upwards with itself.
The projections for the cryptocurrency are bullish. According to the estimates of Digital Coin Price, Ecomi is expected to end the year with a price level of $0.0092 while the price is expected to climb upwards towards $0.021 by 2026.