Ecomi Collect ICO Review

Ecomi Collect

Ecomi Collect Digital Collectables for Giant Brands

Ecomi Collect Score



The ECOMI Collect project is backed by ORBIS Blockchain Technologies Limited, a New Zealand based company established in 2017 and the owner of the Secure Wallet brand/IP along with its associated manufacturing facility. Ecomi Technology PTE Ltd, the vehicle for the token sale and ongoing development/management of the ECOMI Collect project, is a registered entity in Singapore.

Ecomi Collect is the new Product that focuses on Digital Collectables, namely NFTs (Non-Fungible Tokens). 

REVIEW VIDEO

review video

TOKEN SALES

METRICS

Full breakdown

Ecomi Collect Token Metrics 

Ecomi Collects Sale is pegged to Bitcoin at the price of 1 sat per token. The total Hardcap for the raise will be 1500 BTC for 20% of the supply. The total supply of tokens is 750 Billion tokens and 150B tokens will be sold during the private sale and IEO on the 12th of May.

Public & Private Sale 20% of the Supply

Most of the funds were raised during December 2018 via smaller contributors around 1410 Bitcoin were raised already at an average price of 5900 BTC from individual investors. 

The private sale investors in December had no bonus or any discounts and no vesting. At the current price of Bitcoin the IEO contributors will have exactly the same terms and conditions as the investors of December. Everybody so far has the same terms: 1 sat at an average price of 5800 USD/BTC. 

In-App Purchases 40% of the overall supply 

To explain how these tokens affect the token price we first have to explain a bit how NFTs (Non-Fungable Tokens) work. The Ecomi token, OMI increases in value every time a user purchases an in-App digital collectible. The fiat is converted to OMI tokens which are used to mint a new Go 721 NFT. The NFT is added to the users secure wallet and locked in a non-accessible contract, effectively burning them.

The 40% for in-app purchases can only be used for NFTs, and will be directly used to mint collectibles, therefore the 40% of tokens can never become tradable circulating supply. Bringing the effective total token supply down to 60%

Although this cannot be officially stated in documents we understood that part of the money from in APP purchase will be used from the start to buy-back tokens from an exchange pool. Once all the tokens 40% of tokens are sold in-App Ecomi will buy tokens from an exchange pool. 

When looking into numbers of existing competitors for digital collectibles such as WAX, we can assume a similar or higher annual revenue. WAX reported annual revenue of 650.000.000 USD. As ecomi is working with huge brands that come with big following and userbase we can assume that Ecomi would do similar if not more sales.

Business Development 20% of the overall supply

150 billion OMI Tokens, will be allocated to the long term business development fund. These tokens will also be unlocked immediately after issuance. This will be used as required for additional content licensing, partnerships and a reserve fund. The tokens will also be used to onboard users to the Ecomi Collector App. 

The team states these tokens will be left untouched until funding from other sources, public/private sale and revenue from the In App Purchases Liquidity pool, are exhausted. Depending on the burn rate for the company, this should hopefully lock these tokens from the overall circulating supply for at least a year.

We would suggest to publicly show the wallets address containing the business development tokens.

Team & Advisors 20% of the total supply

The final 20% of tokens will be allocated to the Advisiors/Board Members and ECOMI Collect Team/Founders. The Advisiors/Board Members tokens are locked for 12 months and then fully unlocked at that point, while the Team/Founders tokens are locked for 24 months and vested at 25% quarterly, resulting in a full unlock of all tokens after 3 years.

Token IEO Price 1 Sat

Ecomi has pegged its token starting price to 1 Satoshi. They are listing and doing an IEO on Bittforx. 1 satoishi the lowest possible trading price on Bittforx. The team stated that they chose this as a measure to protect from short term price dumping. Due to the team not allowing any other trading pairs past BTC, and with plans to blacklist exchanges known to list tokens without project permission from listing with alternative trading pairs like ETH, on which the token could be traded at a lower price than one satoshi, this means that initial floor of the token price is already set. 

The token is GoChain based, which does not have any DEXs yet, which should prevent any decentralized exchanges from listing OMI Tokens. Most other centralized exchanges that have a Go Pair are already very established Exchanges. Its a similar approach to the LTO bridge, as any exchange could have integrated the LTO main net token and that could have rendered their bridge useless. However after almost 4 months now, there still has not been 1 exchange that tried it. 

At least for the short term, it seems that the ICO Price provides a ground for investors. The team told us, that the 1 sat price should help overcome the 2 months until the app goes live and there will be real buy demand for OMI Tokens via on App Purchases. 

Token Economics & Token Use case

The Ecomi token, OMI, is used to purchase NFTs from within the Ecomi Collect app. Users can easily acquire the OMI token via fiat in-app payments, which then automatically purchases the OMI token in the background and exchanges the OMI for the NFT digital collectible. The OMI tokens used in the exchange are then sent to a “Burn” wallet address and will not be used again.

The tokens can be seen as something called reverse equity, a similar model to how bitmax tokens work. In order to increase their revnue, Ecomi products sales require them to buy tokens from the exchange. I hope that this system will be adopted by more projects as its a great way to bring utility to useless tokens.

Other token use cases are discussed such as discounts for collectibles for users that stake OMI.

Green lights

 

  • Team has been working Ecomi Collect since early 2018. 
  • Product launch is only 2 months away after the public sale.
  • There is a clear product-market fit.
  • Token has a strong use case and is directly correlated to the sales on the Ecomi App.
  • Team has over 30 years of experience in the field of collectibles.
  • Alfred Kahn creator of the Pokemon brand is part of the full-time team members.
  • All-Star Team members.
  • An actual product that I would buy. 

red flags

  • IEO on Bittforex has yet to prove itself. 
  • With Bitcoin increasing the market cap for Ecomi increases every day.
  • Weak crypto community. 
  • The Team has little experience in crypto. 

Ecomi Collect
DETAILED ANALYSIS

ICOs Found

ADVISOR SCORE

Medium

  • Most Advisors are very active. 
  • Advisors have a lot of experience in crypto. 

TEAM SCORE

High

  •  Alfred Kahn works full time with Ecomi Collect and is responsible for the Pokemon brand, YoGiYo & Teenage Mutant Ninja Turtles.
  • CEO David Yu has turned his hobby of collectibles into a multi-million dollar empire across Asia. 

Ecomi Team & Advisors ICO Review

David Yu- ECOMI CEO

With more than two decades of experience in collectibles, gaming, retail products and distribution, and licensing, ECOMI CEO David Yu has a wealth of experience when it comes to transforming unique intellectual properties into globally recognized products and brands. David began his entrepreneurial journey at 14. His enterprising nature took him from re-selling stamps and phone cards, to the eventual purchase of liquidated stock, which included comics, collectibles, and Star Wars and Star Trek memorabilia- leading to the opening of his first collectibles store, Games R Us Ltd- at 17 years old.

David has already 17 established companies under his belt, Yu has spent the past 20 years working with intellectual property, licensing and branding, and specialises in bringing new products to national and international markets- particularly in the Asia-Pacific region.

Yu’s established businesses across gaming, collectibles, and entertainment (among others), including:

  • Games R Us Ltd- incorporated in 2001 as New Zealand’s premier gaming supplier which owned and operates the Vagabond Games chain established since 1997
  • Hobby Co Limited- an import, distribution and marketing company and industry leader in marketing solutions for the Trading Card Game segment.
  • Livewire Games Limited– New Zealand’s largest owned and operated online gaming specialist store
  • Vagabond Games Limited– currently New Zealand largest owned and operated gaming franchise store chain

Intellectual Property distributed by GRU Distributions (Games R Us)

 Alfred Kahn Head of Global Licensing

Alfred Kahn- properties are responsible for more than $25 Billion in retail revenue. Alfred is a founder and currently the CEO of CraneKahn LLC (a global IP development and marketing company), Chairman of the Board at Toon Goggles Inc, as well as being the founder, Chairman and CEO of 4Kids Entertainment (1991–2011). His company 4Kids Entertainment was responsible for some of the biggest releases in the licensing industry, including Pokémon, Yu-Gi-Oh, Teenage Mutant Ninja Turtles, Cabbage Patch, and Polly Pockets.

On top of these amazing accolades, Alfred also developed licensing, marketing and brand development programs for other iconic international brands, including:

  • Nintendo- Mario Bros, Zelda and Donkey Kong
  • James Bond
  • World Wrestling Federation
  • Monster Jam Monster Trucks
  • Xbox
“The magnitude of blockchain technology will disrupt the collectables industry by giving licensed brands another platform to sell and protect their digital IP.
ECOMI will set the standard in this space.” — Alfred Kahn, CEO CraneKahn LLC
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HYPE SCORE

Medium - High

  • Ecomi had a lot of Mass Media Hype.
  • People are anticipating the 1 sat IEO.

TOKEN SCORE

Medium - High

  • 40% of the supply will never be circulating
  • 1 sat starting price 
  • strong token use case & economics

Github & Tech

The Smart, Secure, Bitcoin and Cryptocurrency Wallet

Ecomi has already built two main products, the secure wallet and app and is currently about to publicly release the Ecomi collect app.
 
The Secure Wallet is literally the size and thickness of a credit card. Designed to be ultra-portable, the storage device fits easily in whichever wallet/case you currently use to store your credit cards. By using printed circuitry and an e-paper display screen the Secure Wallet is almost weightless, coming in at a meager 20 grams, is waterproof, and comes with 15 degrees of flex.
 

Supported Currencies

The ECOMI Secure Wallet can now store:

  • Bitcoin LitecoinvEthereum Ripple Bitcoin Cash More than 600 ERC20 tokens GoChain

ECOMI Collect

Using the ECOMI Collect app, you can:

  • Purchase your favourite characters and series, instantly and around the world.
  • Build your own personal showroom, to display your digital collectibles and create custom scenes using collectible characters, Scenes and props.
  • Share this showroom and your collection on social networks, and on your personal ‘wall’ within the ECOMI Collect app- allowing other users to comment and show their appreciation for your collection.
  • Display and interact with your favourite collectibles in the real-world using augmented reality.
  • Connect to our secondary marketplace, allowing you to buy, sell and trade your collectibles with other members of the ECOMI community.

TEAM

David Yu

CEO

Daniel Crothers

COO

Mikel Duffy

CTO

Joseph Janik

Head of Hardware

James Li

Licensing Manager

Sean Liang

Sales Manager

Arkit Vora

Secure Wallet Lead Developer

Nishanth Shankar

Full Stack Developer

Dhruv Dangi

Mobile Developer

Jeremy Su

Solidity Developer

Steven Connery

Solutions Architect

Rhys Skellern

Communications Manager

Fendi Thien

PR Coordinator

Oliver Finel

Community Manager

CONCLUSION

Ecomi Collect ICO Review Conclusion

The Ecomi collect review took quite a while to do as there was a lot of content out there on their medium account to go over. When I first looked into Ecomi, I was quite negative on the project. It seemed like an amazing project for equity investors, but useless for the Token holders. After skimming the project I was impressed by the team, but then clicked away for a month until one of our team members told me to look again into the token use case as he said it reminded him a lot of Bitmax Token. 
Only after understanding that the token is actually directly proportional to the revenue of Ecomi I became a lot more excited. 

Most people understand the NFTs (Non-Fungabel Tokens) are great and that people holding those make good money. Cryptokitties sold for a lot of money during the kitties bubble and WAX the biggest company selling digital collectibles reported annual revenue of 750M USD and that in the bear market. It was always clear that digital collectibles are a great use case for crypto, but the tokens of those usually seemed useless. WAX tokens are currently evaluated at 61M USD and that’s down 97% from ATH without any utility. 

The Ecomi token, OMI, is used to purchase NFTs from within the Ecomi Collect app. Users can easily acquire the OMI token via fiat in-app payments, which then automatically purchases the OMI token in the background and exchanges the OMI for the NFT digital collectible. The OMI tokens used in the exchange are then sent to a “Burn” wallet address. 

Meaning, every time ecomi wants to sell a digital collectible it first needs to mint it by burning tokens, once the token pool is depleted they need to buy back the tokens from an exchange. The team speaks for itself, and they already delivered a lot, including 15 major license partners. I do not think that user acquisition will be a problem and also think that this project has a real use case and that the coin will increase in value independently from any speculation.

This is one of the first projects that I think can bring real mainstream adoption to an ICO and grow through real utility.

8.2

ADVISOR

8.2

TEAM

6.3

HYPE

6.9

TOKEN

gaming

CATEGORY

All information including our "Grading system" rating, is provided merely for informational purposes. ICO DOG does not provide investment advice (read more).

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