NFTs: Minting

IMVU has a very active creator community of over 200,000+ unique users/creators uploading more than 350,000 new digital items into the IMVU marketplace every month. As of late 2022, this marketplace has been updated to support the minting, buying and selling of NFTs. While Creator-minted NFTs are coming to the platform this year, NFTs created by IMVU were launched into the IMVU ecosystem successfully in Q3 of 2022. This led to a number of weekly drops that generated the following results. Success Highlights:
  • Top 10 in global NFT collectible transactions on DappRadar
  • 15K NFTs dropped in less than 2 months - all selling out
  • Community interest leading to an average sell out time of 7.5 minutes
Starting in Q1 of 2023 a pipeline of web3 native brands and communities are being evaluated to launch in Q2 of 2023. To continue and build on these early results the thousands of IMVU creators will be able to mint and sell NFTs. In Q2 of 2023 with the addition of VCORE support to the creator studio tool, all platform fees can be paid in VCORE. Utilizing NFTs for our community has opened up various opportunities overall for IMVU. MetaJuice is currently in conversations with the following:
  • Successful NFT community projects
  • Web3 native brands
  • Major retail brands
The ability to turn IMVU digital items into NFTs by integrating minting functionality into the existing platform is a massive technological achievement for the entire metaverse economy. This integration will allow NFTs to be minted into the existing IMVU Creator Studio used to post digital goods today. This will make it easy for Creators to engage and mint NFTs using a tool they already know and use every day. On top of NFT minting, the tool will also help calculate estimated and actual earnings for creators through royalties. The NFTs minted will then be put up for sale into the existing IMVU Marketplace that players have been using and purchasing items on for years. Once VCORE is launched and integrated into this marketplace, international creators can pay marketplace fees and sell the NFTs they create using the Creator Studio tool in VCORE.