IMVU’s new convertible VCOIN has been posted on social media.

According to the company’s January 12 announcement, posted in Cointelegraph, VCOIN is available to IMVU users from today.

IMVU has already completed over 27 million transactions per month with unsupported blockchain loans. VCOIN seeks to give users involved in these transactions the opportunity to convert their revenues into a value that they can use outside of the platform, whether in peer-to-peer transactions or converting to a fiat system, by integrating the game’s virtual economy into the rest of the economy. More tangible.

Regarding the projected growth of the global hypothetical economy, John Barris Cointelegraph, IMVU Chief Strategy and Blockchain Officer, said:

“All types of users will be able to specialize in their skill sets. Thus, space builders can now receive money from owners who want to manage that space, and people who are good at designing clothes, but cannot sell, can receive money from the creators who market these virtual goods. You can remove VCOIN from the platform and pay VCOIN to other users who haven’t even heard of IMVU, because it will have real value.
Users will be able to buy and sell VCOIN on IMVU at a flat rate of 250 VCOIN for $ 1, although there will likely be a mobile purchase premium to pay the fees required by the Google Play Store and the Apple App Store.

Once on the platform, users will generally be able to treat the coin as their current IMVU Credits. They do not have to provide customer information, such as a government ID card, before they transfer VCOIN from the platform to the wallets, as they will operate as the ERC-20 model codes. Hot wallet provider Uphold will manage VCOIN wallets.

IMVU was the third cryptocurrency token to receive a letter without action from the U.S. Securities and Exchange Commission. The SEC defines limits on the use of VCOINs, including provisions such as a fixed rate, with the aim of preventing the token from investing in IMVU.

By connecting VCOINs to the internal economy of IMVU’s avatar-based 3D social network, the company has introduced an interesting digital status app that looks more appealing to SEC than, say, Telegram’s plans for GRAM. Icons.

Source: CoinTelegraph