MetaJuice (www.metajuice.com), today announced VCOIN, the first transferable digital currency designed for the metaverse, now has 750,000 wallets on the IMVU platform. VCOIN launched into IMVU’s massive economy enabling the 1,000,000 daily active users to buy, gift, earn and convert VCOIN to cash to use in the real world. MetaJuice is the blockchain subsidiary of Together Labs, the parent company of the world’s largest 3D social metaverse, IMVU.
These 750,000 wallets come just twelve months after VCOIN’s release on all IMVU platforms. VCOIN was ready-made for adoption built directly into IMVU, with no complicated hoops of setting up and connecting an external wallet. VCOIN can be purchased in the IMVU app simply with a credit card.
VCOIN has opened the peer-to-peer service economy on IMVU. Now DJs, personal shoppers, night club hosts, and others can earn VCOIN for their services and convert that VCOIN to cash. Some of the most popular services and earners of VCOIN are digital artists, virtual fashion models, custom clothing/room creators and more. To help users match to service providers, MetaJuice and IMVU launched the “Gigs Marketplace” that enables producers of services to post and users to quickly find the talent they need. This is an easy way for the IMVU community to transact with VCOIN.
VCOIN can be purchased on IMVU, earned, gifted, withdrawn from the platform and even used to purchase select upgrades on the IMVU platform such as VIP subscriptions, access passes and more. After VCOIN is withdrawn from the platform, it is like cash, with all the benefits of being digital. VCOIN will also be the exclusive method to purchase NFTs with the upcoming NFT launch on the IMVU platform.
“We have always said that the high-velocity, comprehensive economy of IMVU was ripe for a digital currency to really maximize the full value of this metaverse, and achieving this milestone proves that,” said John Burris, President of MetaJuice. “VCOIN gives users the ability to buy, gift, hold, earn and convert earnings to real money, and our soon-to-launch VCORE token will give international users the ability to shape and share in the success of IMVU and other platforms. This is a powerful one-two combination that no other metaverse is offering.”
VCOIN is the first of two tokens to be introduced to the IMVU metaverse, with sister token VCORE launching soon worldwide (to users outside the U.S. and Canada). VCORE is intended to reward users for their engagement and give users a valued voice in the success of the metaverse economy. VCORE holders, over time, will be able to play, stake, earn and share their voice, empowering millions to help shape the future of the metaverse.
VCOIN is an ERC-20 token governed by a simple smart contract audited by trusted third parties, and is a fungible digital currency designed for virtual economies and ecosystems both on and off the IMVU platform. IMVU received no-action relief from the Staff of the U.S. Securities and Exchange Commission (SEC). With the no-action letter, IMVU can sell VCOIN as a transferable non-security.
“VCOIN has unleashed the service side of the metaverse economy and has given service providers a path to earn real money and that is something we – and they – value,” said Nancy Beaton, Senior Vice President of MetaJuice. “The wallet milestone is just one early indicator of how ready users and creators in virtual worlds are to play, create, hold, earn and shape the future of where they spend their time.”
