IMVU’s New Blockchain-supported Stablecoin Made Available

By Robin Wong | January 18, 2021

IMVU’s new fiat-convertible VCOIN – which has reportedly been accumulating attention for its own way of pulling the US lawmakers’ strings – is now rolled out to IMVU, across more than 140 nations. 

Specifically, IMVU has reportedly already been involved in the facilitation of more than 27 million transactions monthly, using its non-blockchain-supported credits.

VCOIN reportedly looks to provide any client carrying out those transactions the chance to turn their earnings into value, which can be utilized outside of the platform environment, both in peer-to-peer transactions and in conversion to fiat, finalizing the integration of game’s virtual economy, into the remaining of the economy in an enhanced tangible manner. 

“All kinds of users are going to be able to specialize in their skill sets. So builders of rooms can now get paid by hosts that want to run that room, people who are great designing clothes but not great at marketing them can get paid by creators who put those virtual goods into the marketplace. You can take your VCOIN off platform and pay other users who have never even heard of IMVU with VCOIN because it will have real value.” IMVU’s chief strategy and blockchain officer, John Burris, further remarked. 

Users will reportedly have the power to conduct selling and purchasing VCOIN from and to IMVU, with a fixed rate of 250 VCOIN for $1, although mobile devices-enabled purchases may reported be subjected to a premium to pay fees, as per request from Google’s Play Store and Apple’s App Store.

When interacting with the platform, users will reportedly have the power to consider the coin like IMVU’s existing credits. They are not subjected to providing KYC data such as government identification, until they look to transfer VCOINs outside the platform into wallets, to operate as typical ERC-20 tokens.

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