VCOIN is the ﬁrst global transferable digital currency that allows users to buy, gift, earn and convert earnings in the metaverse into real money for the real world.
Originally launched by MetaJuice in January 2021, VCOIN is an ERC-20 token, integrated into the IMVU metaverse where more than 1 million daily users can buy, sell, earn, and gift it. In November 2020, VCOIN received the third ever crypto-related SEC Staff No-Action Letter, allowing VCOIN to be sold as a non-security.
In June 2022, VCOIN reached 750,000 wallets on IMVU, making it one of the most widely adopted token wallets for a gaming platform.
While it’s currently primarily used in IMVU, VCOIN will be supported in upcoming Together Labs metaverses such as WithMe.
Users can purchase VCOIN directly on IMVU using a credit or debit card, at the fixed rate of 250 VCOIN = $1.00. For users in countries where VCOIN is unable to be purchased, they can still be sent VCOIN from other users on IMVU, or earn it through the Gigs Marketplace.
This fall, MetaJuice will launch an NFT Marketplace on IMVU, introducing IMVU’s users to the concept of NFTs and digital ownership. At launch, VCOIN will be the sole currency utilized to purchase NFTs, and the currency that sellers will earn for selling NFTs.
The ability to purchase VCOIN without connecting bank accounts, earn it through the Gigs Marketplace, and send between friends on-platform, all without connecting or creating an external wallet makes VCOIN a token that’s easy to obtain, and simple to use.
Because of VCOIN’s set rate of exchange, users who earn or are gifted VCOIN can transfer it to Uphold, where it can be converted into fiat at a fixed rate, after completing KYC requirements.