What is the issuance price of ECOMI(OMI) currency?

ECOMI (OMI) was initially issued at $0.001 per token during its ICO in July 2019.

Dec 08, 2024 at 12:33 pm

What is the issuance price of ECOMI(OMI) currency?

Introduction

ECOMI (OMI) is a digital currency used within the VeVe Collectibles app ecosystem. VeVe allows users to collect, display, and trade officially licensed digital collectibles. OMI is essential for facilitating transactions within the app and has been gaining popularity among collectors and investors alike. This article will explore the issuance price of ECOMI (OMI) and delve into the various aspects surrounding its release and value.

Issuance Price of ECOMI (OMI)

ECOMI (OMI) had an initial issuance price of $0.001 per token. This price was established during the project's initial coin offering (ICO) in July 2019, where a total of 500 billion OMI tokens were created. The ICO raised approximately $11 million and marked the official launch of the ECOMI (OMI) cryptocurrency.

Factors Influencing the Issuance Price

Several factors influenced the initial issuance price of ECOMI (OMI):

• Market Conditions: The overall cryptocurrency market conditions at the time of the ICO played a significant role. In July 2019, the market was amidst a correction, which may have impacted the initial pricing of OMI.
• Project Valuation: The initial issuance price was also influenced by the team's valuation of the project. They estimated the project's potential and set an issuance price they believed would reflect the project's value.
• Investor Interest: The level of investor interest during the ICO also affected the issuance price. Strong interest from investors can lead to a higher initial price, while lower interest may result in a lower price.

Post-Issuance Price Performance

Since its ICO, the price of ECOMI (OMI) has experienced fluctuations, both increases and decreases. The market value of OMI is determined by a combination of factors, including demand, supply, market sentiment, and the overall performance of the VeVe Collectibles app ecosystem.

Additional Considerations

In addition to the issuance price, here are some other important considerations regarding ECOMI (OMI):

• Tokenomics: The distribution of OMI tokens is as follows: 40% for private sale, 20% for ICO, 20% for team and advisors, and 20% for the ecosystem.
• Utility: OMI is primarily used for purchasing NFTs on the VeVe Collectibles app. It is also used for staking and other platform-related activities.
• Market Capitalization: The market capitalization of ECOMI (OMI) is approximately $1.5 billion, making it a notable player in the digital currency space.

Conclusion

The issuance price of ECOMI (OMI) was $0.001 per token, set during its initial coin offering in July 2019. Multiple factors, such as market conditions, project valuation, and investor interest, influenced this price. Since then, the price of OMI has fluctuated based on market forces and the performance of the VeVe Collectibles app ecosystem. Understanding these factors is crucial for investors considering ECOMI (OMI) as a potential investment.