There are cuddly digital pets coming your way and while they are not like your usual furkid, they are still fun to own and for those who want to learn more about blockchain technology, this is a useful way to get educated on the technology and its potential.
OMC Group Sdn Bhd (OMC Group), the blockchain arm of AIO Synergy Holdings Berhad, is offering Omni Pets using the ERC-721 open standard based on the Ethereum protocol that allow for the creation of non-fungible unique tokens. Projects based on this standard have been used to build up rare digital collectibles as these tokens are all unique. This is unlike cryptocurrencies based on the ERC-20 standard, which are fungible, that is, they are all similar. When you own an Omni Pet, you are owning a unique pet and collectible, that can be cared for and nurtured and later traded through a secondary market like any collectible.
Well, what are Omni Pets and how are they created? The genesis of these digital pets are the eggs that are released by OMC Group every week. Only 200 eggs per week are released and the value of the pets that are hatched from the eggs depend on whether they are categorised as diamond, gold, silver or bronze, with the rarest and most expensive being the diamond ones and the lowest in value being the bronze ones. The eggs’ value is generated randomly and are not pre-determined. There are 16 designs covering physical characteristics such as eyes and body type with differing colour and pattern. The Omni Pets are also categorised based on the elements of fire, thunder, water and earth while limited edition pets come with horns and wings.
Because these pets are unique, they can be named too. OMC Group will allow owners to name their pets for free the first time but will charged a fee when they are renamed. Similarly, should the pet be traded on the secondary market, the new owner can name the pet for free the first time but will be charged for subsequent name changes. When successfully traded, there is an adoption fee to be paid too. The renaming fee is collected as a measure to ensure that users do not abuse the system and cause congestion to the network while the adoption fee is used to run and maintain the Omni Pets ecosystem.
Like pets of the flesh-and-blood kind, these pets need to be fed. OMC Group has created 11 categories of digital food that owners can purchase to feed them with. Just like furkids, when these pets are fed, they become happy and contented, and their “relation value” increases. This is depicted as heart icons on-screen on the relation value bar. Pets will sometimes also ask for specific food that, if fed to them, will double up the relation value. Besides food that is purchased, to keep the owners engaged, there is also a “daily spin” that occurs four times a day where free food that does not increase the “relation value” is distributed. The relation value is important because the higher the relation value, the higher the trading value.
The pets are bought with the in-game currency, known as “gold coins” that is valued at US$1 per gold coin. They can be purchased with Bitcoins, Ether, US Dollar Tether and OMCoin. Those interested to own these unique digital pets and learn about blockchain technology can start by investing an initial 100 gold coins. There will also be a Facebook community created to support Omni Pet owners.
Omni Pets can be traded, and because they are one-of-a-kind digital pets, they are rare. Also, with OMC Group limiting the number of eggs available for hatching to 200 per week, there will only be a finite number of them, which can then fuel a lively secondary market in trading them. To make things more interesting for owners/collectors, OMC Group is also planning to offer limited editions of Omni Pets during festive or special occasions.
Omni Pets is not just an opportunity to invest in a unique blockchain asset that can be traded through a secondary market among like-minded enthusiasts, but it is an opportunity for people to understand how blockchain works in a fun way. Given that the pets’ ecosystem is run on the OMChain2.0 consortium chain, OMC Group is reaching out to people to educate them about the application of blockchain technology through owning these pets. Owners will learn how the blockchain works from owning to trading as OMChain2.0’s smart contract is used to facilitate the transactions.
By OMC Group