KUALA LUMPUR: AIO Synergy Holdings Bhd's blockchain arm, OMC Group Sdn Bhd, recently launched Omni Pets to the public as a way to introduce blockchain technology.
The aim is to inject element of fun in learning while playing a game collecting one-of-a-kind digital tokens that can be traded.
Omni Pets are digital tokens created using the ERC-721 open standard based on the Ethereum protocol and are non-fungible, that is, these tokens are all unique unlike the ERC-20 standard used to create cryptocurrencies.
With only 200 unique digital tokens offered per week in the form of eggs, the company said these pets, when hatched have to be cared and nurtured as their trading value also rises if they are 'happy' and 'contented'.
These digital pets come in 16 designs covering physical characteristics such as eyes and body type with differing colour and pattern while there will also be limited editions for festive or special occasions.
The pets can be bought with the in-game currency known as "gold coins" that is valued at US$1 per gold coin.
The in-game currency can be purchased with bitcoin, Ether, US dollar Tether and OMCoin.
OMC Group chief executive officer Jack Lee said each Omni Pet is represented by a unique token in the company's blockchain.
He said OMC Group believed that this is a fun and interesting way for people to understand blockchain better while giving them the opportunity to collect and trade unique digital assets.
"Beyond Omni Pets, the use of ERC-721 can be used to tokenise other assets, such as art collections, property and jewellery. We also believe that blockchain technology can enable a trusted form of ownership for digital assets and we are taking this step with Omni Pets," he said during the virtual launching ceremony today.
OMC Group said the digital pets' ecosystem is run on the OMChain2.0, a consortium blockchain that only allow for authorised participants and is a secure and performance-driven platform.
Owners of the digital pets will also learn how the blockchain works from owning to trading as OMChain2.0's smart contract is used to facilitate these transactions.
Besides the launch, OMC Group has also signed a memorandum of understanding with Uber Capital and Whale Media as part of its effort to widen its blockchain reach and offer more services in the coming months and announced strategic partnerships with Wechain and the Malaysia Emerging Technology Association.