What is OMI?

OMI is the ticker symbol for the ECOMI token, which underpins transactions on the VeVe app.

Usage:

I bought some OMI so I can use it to buy collectibles in the future.

Full Definition:

OMI is the ticker symbol for the ECOMI token, created by ECOMI, the company that develops VeVe.

The tokenomics behind the OMI token are still in development, but the idea behind the OMI token is that it underpins all the transactions on the VeVe app.

Whenever collectibles are purchased on a drop or in the marketplace, a certain amount of OMI tokens is burned, creating deflationary pressure on the token.

The ECOMI team is also creating an incentive program called the OMI Utility Program, which will reward OMI holders for staking or locking up their tokens in the VeVe app, reducing the circulating supply of tokens.

The team have also stated that eventually users will be able to purchase land and other items within the VeVeVerse using OMI.

Additionally, the ECOMI team plans to provide further utility for the token by encouraging other developers to utilize the token in their games and projects.

Three games so far have announced that they will incorporate and burn OMI tokens: Epiko Regal, Feeshes, and Canon Crisis, with more to be announced.

The symbol for the OMI token is a red circle, which many users have incorporated into their usernames on Twitter and other social media sites in order to show their support for OMI/VeVe.