IMVU’s new fiat-convertible VCOIN goes live on the social network.
Per a Jan. 12 company announcement shared with Cointelegraph, VCOIN is available for users of IMVU, starting today.
IMVU already hosts over 27 million transactions a month using its non-blockchain-backed credits. VCOIN aims to give users involved in those transactions the opportunity to convert their earnings into value that they can use off the platform, both in peer-to-peer transactions and in conversion to fiat, integrating the game’s virtual economy into the rest of the economy more tangibly.
Regarding the hoped-for boost to the virtual world’s economy, IMVU’s chief strategy and blockchain officer, John Burris, told Cointelegraph:
“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