Months after sealing a $25 million deal with Ripple and other participants including Vivi Nevo, Founders Fund, Karlie Kloss, Omni is now integrating XRP. This is no doubt huge for Ripple demonstrating how their earlier initiative, Xpring, is paying off. Xpring is the “proverbial” spring for serious start-ups and the initiative that “invest in, incubate, acquire and provide grants to companies and projects run by proven entrepreneurs”.
More about Omni
Omni is a brainchild of Thomas MacLeod and with Stefan Thomas, the former CTO of Ripple and founder of Coil, another Xpring supported company joining Chris Larsen the co-founder of Ripple as a member of Omni advisory board, the start-up is poised to change the concept of ownership.
In their Medium page, Omni say they are a new way of owning and accessing things. Through their platform, users can find and rent what they need while renting out what they don’t need. This way they safe space while earning XRP as they do so.
Simply put, Omni acts as the keepers of an on-demand personal storage platform build on a shared economy model. Because of this, users get to earn when they share their things via renting while at the same time saving space, all from the comfort of their homes. Their main objective is to make people live “lighter”.
What the XRP Integration Means
The new XRP integration means users can now cash out their rental earnings straight into their XRP wallets. It’s also the first of a kind around San Francisco Bay Area and Portland where users get to earn XRP without going through an exchange.
By doing so, the start-up is providing an avenue for crypto curious investors to own digital assets which can they can cash out instantaneously. Besides, Omni is eliminating unnecessary risk because the owner has full control of their XRP. They are the legit owners with no custodians controlling their private keys.