The Popular World Billionaire, Elon Musk has being inspiring different Decentralized Finance Projects and here we have the American-Nigeria Music Artist David Adedeji Adeleke popularly known as Davido inspiring a token “Echoke” Social Token.

As you all know that Echoke was a slang introduced by Davido of which even Twitter has to craft an emoji for it. The slang is used to when you desire some to feel or show intense shock, surprise or wonder. When you tweet something using the #EChoke, a portrait of Davido holding his neck will appear, giving your tweets a little extra flair.

What is Echoke Token

$ECHOKE Social Token is a cryptocurrency that is built on Binance Smart Chain (BSC BEP-20). It provides access to giveaways, NFTs, festivals, exclusive merchandise, and other entertainment, media, and hospitality benefits.

By 2022,  anticipateionsthat the current entertainment landscape will be shaped by the artists and companies that draw the highest audiences and those that can effectively monetize the audience by putting their fan base in the driving seat.

A universal platform capable of creating community ownership of value will drive fans’ engagement. Blockchain technology provides the infrastructure to create such a project with the concept of cryptocurrencies. With $ECHOKE token, fans can become influencers and drive the next generation entertainment industry.

Why develop $ECHOKE Social Token?

Motivation: To turn fans in the entertainment and media industry from spectators into influencers and stakeholders.

The global entertainment market continues to grow year over year. However, entertainment and media are multi-billion dollar industries controlled and owned by a few people at the top.

On the other hand, the fans create or promote content for these industries but do not benefit due to the current ways incentives are set-up. Corporations and a privileged few get most of the money, and fans are left unrewarded as mere observers. With $ECHOKE tokens powering our ecosystem, we intend to turn millions of music and entertainment fans from spectators into influencers and decision-makers.

Our vision embraces cryptocurrency and blockchain technology as an effective tool to empower active fans and transform them from passive spectators into active influencers that can promote the music and entertainment industry.

The Opportunity Of Echoke Social Token

The entertainment industry is limited in direct fans engagement.

The current entertainment industry offers, for the most part, a transactional relationship with fans. Fans pay to listen to music, attend concerts/shows and buy merchandise without any reciprocal benefits.

While there have been attempts to activate direct fans engagement, the results have been underwhelming to a large degree. Cryptocurrencies have come to enable community ownership of value created by communities developed by fans.

When communities are built from scratch with tokens, early investors and hodlers can acquire tokens and benefit from early access to become major stakeholders as the ecosystem expands. $ECHOKE is built on a similar ideology and designed to reward early hodlers and investors.

The Innovation

A token where fans can get involved and become stakeholders in the entertainment industry.

$ECHOKE partners with artists, festivals, streaming apps, fin-techs, parties, hotels, clubs and more to offer giveaways and discounts on their services. These partners are provided $ECHOKE tokens, and in return, they offer giveaways in exchange for the tokens as well as exclusive discounts on services.

Those that will hold $ECHOKE tokens are high stakeholders in the entertainment industry. They may be super-fans of an artiste, a frequenter of a party series, a massive user of a streaming app, or a combination of both. The discounts and giveaways given to these users will provide them with more benefits for less money.

This entire process is made possible via the novel application of a scalable, blockchain-based token with purchasing and utility infrastructure deployed through a secure, trustless smart contract on the Binance Smart Chain (BSC) network.

$ECHOKE tokens are finite in the amount that will be issued, and as holders get incentivized, we expect more people to want to acquire the tokens. Hodlers of the token will patronize partners’ services more, which will drive the use-cases.

Backed by African Entertainment Legend Davido

$ECHOKE token is created by Omegoat and built-in collaboration with African pop superstar Davido as our first partner. We wanted our first partner to be a respected brand in media and entertainment that has cultivated a dedicated fanbase of young Africans and understands the entertainment industry.

Davido was an obvious choice in this regard and we have been impressed with his previous forays into fintechs and his effect on those projects. We’re undertaking a very huge task, so we need the most brilliant mind to help us put things together.

Davido has one of the biggest social media presence of any entertainer in Africa and can leverage it to bring about the change we desire. Omegoat is a Defi/Crypto project created to provide the crypto-loving public with autonomous finance products that governments cannot takedown. The $ECHOKE token is the first of a handful of projects we will release in the near future.

$ECHOKE tokens are not sold anywhere. The only way for you to get them is from our periodic giveaways on our Omegoat website (https://omegoat.com). This way, greedy rich people don’t buy up all the tokens on the first day. Only true fans (in their great numbers) can have access to these tokens and gain the benefits from it.

$ECHOKE Tokenomics

Public sale – 12.5%

Private sale – 5%

Team ownership – 35%

Echoke Foundation – 10%

Product & marketing – 5%

Partnerships – 15%

Giveaways / Faucets – 7.5%

Community Treasury – 10%