Sorry about the long post but I wanted to put together a review of CHZ and OMI just in case others might find it useful, I had to rush it a bit so please forgive any errors:
Disclaimer: I own both CHZ and OMI. I'm also not a financial adviser and my experience of NFTs is quite limited so please don't make any financial decisions based on what I say, this is just my opinion.
The apps:
OMI: The VeVe app is still in its beta phase. The NFTs themselves are first generation and whilst they already look impressive it will be interesting to see how they evolve as time goes on. You could one day have your very own charizard flying around the house setting fire to your girlfriends hair.
Whilst they already have some really good contracts in place, the selection of NFTs on the app is currently limited to Batman, Harley Quinn, The Joker, Ghostbusters, the Powerpuff girls and a few other less popular names, however demand has outweighed supply and most of these are currently unavailable making it quite hard to get anything that you might actually want.
One thing that I really like about the VeVe app is that you can trade your NFTs on the VeVe market place, meaning that if you buy the right NFT which sells out whilst still in demand, it could potentially be worth much more than what you initially paid for it.
CHZ: The socios app has been around for a while and is up and running smoothly. It allows football fans to interact with the club and other fans as well as to buy and sell fan tokens which rise and fall in value whilst giving you influence on club decisions through fan polls. The app can be used to offer fans benefits such as VIP access to games and other bonuses such as club tours and meeting players.
Conclusion: I think that the Socios app has good potential to keep the interest of football fans, however the potential uses and room for improvement seems to be quite limited in comparison to VeVe, so it may struggle to take off amongst mainstream fans. That said, the fact that such high profile clubs like Juventus, Barcelona, PSG and now Man City have signed up with Socios suggests that they do feel that it will be successful.
The VeVe app has a long way to go to reach its full potential, however I feel like the VeVe app could become extremely popular once it is out of beta and a wider variety of bigger, better and more advanced NFTs are made available, though we might have to wait a while to see if it actually lives up to that potential.
Price and Market cap:
CHZ currently has a price of $0.57 giving it a market cap of $3.1billion whilst the fully diluted market cap which includes CHZ that haven't yet been released onto the market is $5.1 billion.meaning that there's $2 billion of CHZ as yet unreleased.
OMI is currently fluctuating rapidly but as at time of writing is sitting at $0.012 on 20/03/21, given that there's 166 billion OMI in circulation this gives it a market cap of roughly $2billion
It's quite important to note that OMI is deflationary, meaning that whenever people purchase NFTs on the VeVe app the correlating value of OMI is burnt, reducing the supply and putting upward pressure on the price of OMI.
The tokenomics of OMI are a little more complicated, however of the 750 billion OMI that were issued:
340 billion are locked up never to be released
97 billion were accidentally locked up, effectively never to be released
168 billion are currently in circulation
145 billion OMI shared between the team and business development costs are currently out of circulation with the potential to be introduced at any time.
Conclusion: OMI is a long way ahead of CHZ in this category in my opinion, the lower market cap is a benefit for OMI and the deflationary nature of the currency gives OMI the potential to increase in value exponentially, however this will rely on the VeVe app becoming popular and the NFTs becoming widely used.
Contracts:
Both have shown that they have the ability to attract top contracts already which is a bullish sign for CHZ and OMI. There's rumours that OMI will be looking to sign contracts with Pokemon, the NFL and the UFC in future and many other contracts could be in the pipeline. CHZ has already signed contracts with Juventus, Barcelona, PSG and now Man City. They have already signed top teams in most of the top leagues in Europe and can start working their way down to other clubs in these leagues.CHZ also has the potential to start looking outside of football if it wants to go down that route but it's as yet unknown if they will.
Conclusion: This one goes to CHZ as the list of clubs that they have already signed while impressive is still rather small in comparison to the possibilities, however both have huge potential to expand here.
Availability:
OMI is currently only available on Bitmax and Bitforex with a listing on Uniswap coming up on March 24th.
CHZ is currently available on Binance, Huobi, FTX, Bitfinex, Uniswap and a host of other exchanges.
Conclusion: OMI is currently very hard to get hold of, many people including myself have had to sign up to Bitmax or Bitforex just to buy it whereas CHZ is readily available on many top exchanges. This gives OMI a big advantage going forward as it will likely increase in value significantly once it starts getting listed on more popular exchanges.
Final conclusion:
I think both of these cryptocurrencies have the potential to multiply in value in the long term as long as things go smoothly. OMI appears to have a lot more room for improvement than CHZ.but this will be reliant on the team behind it to make the moves necessary to ensure that it reaches its full potential.
It's worth noting that whilst Bitcoin seems to have less of an impact on OMI than it does on CHZ, the impact of Bitcoin on both of these cryptocurrencies is undeniable and should Bitcoin head into a bear market, the value of both OMI and CHZ could be significantly impacted.
Please be aware, the Uniswap listing for OMI due to take place on the 24th March has had a lot of hype. Quite often when this happens the price builds up in the time before the listing only to then dump quite hard soon after listing. If you are interested in purchasing OMI, it may be advisable to wait until some time after the listing has taken place to see if you can buy any dips that may take place.
Topic: NFT review: CHZ vs OMI (Read 81 times)
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