[Archived - RigsK] Opportunity for Creators - Creating NFTs on IMVU

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Posted by “RigsK” on June 22, 2022.

[Archived]

Hi Creators,

We wanted to keep you posted about an exciting new opportunity we’re working on for Creators and our entire IMVU community.

Later this year, we’ll be integrating NFTs into the IMVU Shop. To start we will create and sell a range of IMVU NFTs. After that we will integrate NFT creation directly into IMVU Studio tools so all Creators can have the option to make and sell NFTs in the Shop. Regular IMVU items will of course continue to be promoted and celebrated in the IMVU catalog. Creators can choose to make regular IMVU products, NFTs or both.

Check out the information below and stay tuned for more details on this exciting new feature and the benefits of NFTs in IMVU. You can also get involved by applying to join the IMVU Beta Group - see below for details.

–

NFTs 101

NFTs are new to many of us, so here is some basic information on what they are and how they work.

What is an NFT?
- NFTs (Non-fungible tokens) are collectable items with a digital certificate of ownership that is tracked on a blockchain for authenticity. NFTs allow people to verify that they are the official owner of an individual item. The owner of an NFT can keep or sell their NFT, similar to a real-world item when purchased.
When will NFTs launch?
- A few already have! Check out our 2021 Fashion Show NFTs and our collaboration with SHOES 54035 for a few examples of NFTs that are already living in the IMVU world. A broader rollout, including creator tools and NFTs in Shop, as described in this post, are planned in the near future.
What can an NFT be?
- Since an NFT is the certificate of ownership, nearly anything can be an NFT. On IMVU, you will first be able to create and own NFT clothing, hair, and some accessories; but over time, you’ll be able to also create and own NFT rooms, avatars, animations, furniture and more.
How will NFTs work on IMVU?
- NFT items will be sold inside of the Shop and can be purchased using VCOIN. Once purchased, they will immediately be displayed in the NFT section of your inventory and shown to other users when they click the NFT icon on your profile badge. NFT buyers also get a gold profile badge and will have the ability to unlock future exclusive features. Unlike regular items, users will be able to resell NFT items they buy, with Creators getting a percentage of proceeds from the re-sale.
- NFTs on IMVU will work natively for all users, meaning you don’t have to go through extra steps, such as connecting an external Web 3 wallet.
How do IMVU NFTs affect the environment?
- NFTs on IMVU carry no gas fees - meaning there is no processing fee when you make or verify an NFT transaction. Our NFTs utilize the Immutable X platform, through the purchase of carbon credits. These carbon credits offset the energy footprint to zero for any NFT created or traded utilizing the Immutable X platform.

Benefits of creating NFTs on IMVU

Why should I create an NFT vs. a regular item?
- NFTs provide new benefits and features to the IMVU community. An NFT comes with the ability for the owner to resell it, as well as exclusive access to a gold profile badge and other upcoming exclusive features. By creating an NFT, you are enhancing the IMVU experience for users while gaining an additional revenue stream from royalties on resells. NFTs also have the potential for increased overall value due to NFT exclusivity or limited runs.
How do NFTs increase my earning potential?
- In addition to receiving a royalty with the initial sale, the original Creator can also earn royalties every time a user resells the NFT. The NFT has more functionality than a traditional IMVU digital item because it is owned, it can be resold, and it provides the user with exclusive benefits like a gold profile badge. Similar to the broader NFT market outside of IMVU, NFT prices in IMVU could become higher than traditional digital items due to the added ownership and functionality they provide.
Are regular items being replaced by NFTs?
- Nope! IMVU will continue to support both NFTs and regular items.
How are NFTs different from custom creations on IMVU?
- Custom items, like other regular items, are not capable of being resold and do not grant access to the exclusive profile badge or other future NFT-based features.
How do NFTs protect against item theft?
- While there is no way to ensure the asset will not be imitated, an NFT proves that the particular item in question is authentic and owned by a specific user. Additionally, imitations of an NFT will not grant access to the exclusive profile badge or other future utility connected to NFTs.

What’s next?

Stay tuned for events, contests and more opportunities exclusively for Creators as we work to bring this exciting new feature to our community.

Get involved! Apply for the NFT Beta Group

Interested in being involved in the development of the IMVU NFT experience? Apply to the NFT Beta Group here: https://www.surveymonkey.com/r/BQD26Y5!

Get excited about this new opportunity for IMVU Creators! NFTs on IMVU will provide an additional way for Creators to expand their business and creative talents, plus earn through resale.

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Community posted 5 months ago Admin

Posted by “MaxSMoke777” on June 25, 2022.

[Archived]

I did make some lovely Unicorns for IMVU VIP members. ;)

I really agree with B and C! Are credits that costly?

But the implementation of a "Hash" system for generating a unique fingerprint for each file, then checking those Hashes against other files based on age, would identify 100% of all pirated material. Both we, as creators, and IMVU itself, losses hordes of value from these "extraction tools', openly sold to ROB developers of their items.

The value of an NTF is it's uniqueness, but why bother if any and ALL items can be stolen so easily?

0 Votes

Community posted 5 months ago Admin

Posted by “MaxSMoke777” on June 25, 2022.

[Archived]

Any file type can be "Hashed". Actually, textures would be harder to spot, if the offending party altered a single pixel it might not register.

But added "Junk Data" to a model is much more difficult, since a single errant vertex will become a random spike, and a single bad morph will stop all other morph targets from working. A mesh file is very susceptible to damage if anything goes awry.

With textures one would have to be more broad with the hashing, maybe doing sections of the data array instead of the whole thing at once. It would be more of a probability analysis, instead of a straight forward overview.

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Community posted 5 months ago Admin

Posted by “MaxSMoke777” on June 25, 2022.

[Archived]

But it doesn't have to be! Why will nobody listen? It's a simple fix and I've been harping on it for nearly a decade, ever since this rampant piracy started. IMVU can "Hash" all file uploads. This generates a unique fingerprint based on the content of the file. Just check those verses age, and if it's been derived or not, and all pirated content will stick out like a sore thumb. At that point it's easy to identify repeat offenders, ban their accounts, and remove their stolen content. EASY FIX!

0 Votes

Community posted 5 months ago Admin

Posted by “MsPixelicious” on June 25, 2022.

[Archived]

this is probably me being stoopid, but can i ask exactly HOW is 'ownership attached' to items with these things? - as im guessing it won't be connected with the pid number upon submittal to the catalogue, but will have to be 'purchased' after the event...which kinda implies, ANYONE could buy ownership of ANYTHING that doesnt already come with its own NFT tag!

..does that make sense?

0 Votes

Community posted 5 months ago Admin

Posted by “gaf210” on June 24, 2022.

[Archived]

Was about to say this same thing, i dont have any proof but i guess as long as compatibility is kept backwards with the classic client, there will be ways. As much as it hurt us older users to realize this

0 Votes

Community posted 5 months ago Admin

Posted by “LestatDeLioncourt” on June 24, 2022.

[Archived]

As long as the Classic Client is around, any product can be stolen with exception of newer style products which are not supported in the Classic ;-)

0 Votes

Community posted 5 months ago Admin

Posted by “iBAEi” on June 24, 2022.

[Archived]

I would be interested in this if it weren't for the fact that IMVU already has a massive problem with FRAUD. As a creator, I get between 10-25 reversed transactions due to FRAUD on a daily basis. When I research those transactions, every account has been disabled. If IMVU can't control fraudulent accounts, how is it going to control something as complicated as NFTs? NFTs are easily pirated and the process of notification and takedown isn't as simple as a DMCA report due to the NFT being published on the blockchain. My shop's sales have fallen by 75% since mid-February and can only be attributed to inflation and recession fears. I don't believe the NFT venture is a good idea in the current economic environment.

0 Votes

Community posted 5 months ago Admin

Posted by “Sylaraia” on June 24, 2022.

[Archived]

The DMCA has always been a band-aid being applied to an amputation. I think it was something passed for lawmakers seem like they were doing something. It basically puts the task on the individual to police their own intellectual property over the entire internet while letting companies not be pro-active on the matter because they just point at the DMCA process and shrug.

0 Votes

Community posted 5 months ago Admin

Posted by “SHOPMumzie54” on June 24, 2022.

[Archived]

Very Interesting!

0 Votes

Community posted 5 months ago Admin

Posted by “Lushen” on June 24, 2022.

[Archived]

IMVU is too fickle and vague about DMCA on its platform and does not operate it within the way it should legally be handled. Yet people believe it will be able to keep a lid on NFT's. The DMCA is becoming obsolete anyway because it suppresses creativity according to many.

0 Votes

Community posted 5 months ago Admin

Posted by “Sylaraia” on June 24, 2022.

[Archived]

@Lushen Yes! Upvote, upvote, upvote!

0 Votes

Community posted 5 months ago Admin

Posted by “Lushen” on June 24, 2022.

[Archived]

Not sure if yall took the hint, but crypto and NFT's are not profitable anymore. Especially with inflation in the US, most US users wont be so quick to jump on NFT's and vcoin with no increased return value. Your vcoin is just IMVU Credits rebranded and with the ability to be sold/converted. You are basically doing what the resellers did years ago. IMVU, this course of action is a joke. You should be ashamed of yourself.

0 Votes

Community posted 5 months ago Admin

Posted by “Sylaraia” on June 24, 2022.

[Archived]

Hmm. I was aware that there were modern workarounds for texture theft, but not of actual meshes. Considering the catalog is at 60 million and all of that data has to be adding up in costs, you'd think IMVU would be all over that as a cost saving measure for both backups and manpower with the DMCA claims.

0 Votes

Community posted 5 months ago Admin

Posted by “SoldierLuvr” on June 23, 2022.

[Archived]

Willing to learn more about this, for my customers.

0 Votes

Community posted 5 months ago Admin

Posted by “4u” on June 23, 2022.

[Archived]

Has there been any reported thefts of Studio made products?

0 Votes

Posted by “RigsK” on June 22, 2022.[Archived] Hi Creators, We wanted to keep you posted about an exciting new opportunity we’re working on for Creators and our entire IMVU community. Later this year, we’ll be integrating NFTs into the IMVU Shop. To start we will create and sell a range of IMVU NFTs. After that we will integrate NFT creation directly into IMVU Studio tools so all Creators can have the option to make and sell NFTs in the Shop. Regular IMVU items will of course continue to be promoted and celebrated in the IMVU catalog. Creators can choose to make regular IMVU products, NFTs or both. Check out the information below and stay tuned for more details on this exciting new feature and the benefits of NFTs in IMVU. You can also get involved by applying to join the IMVU Beta Group - see below for details.– NFTs 101 NFTs are new to many of us, so here is some basic information on what they are and how they work.  <ul><li>What is an NFT?<ul><li>NFTs (Non-fungible tokens) are collectable items with a digital certificate of ownership that is tracked on a blockchain for authenticity. NFTs allow people to verify that they are the official owner of an individual item. The owner of an NFT can keep or sell their NFT, similar to a real-world item when purchased.</li></ul></li><li>When will NFTs launch?<ul><li>A few already have! Check out our <a href="https://opensea.io/collection/imvu-fashion-show-2021" target="_blank">2021 Fashion Show NFTs</a> and our collaboration with <a href="https://thedematerialised.com/shop/shoes-53045/cybair-ice" target="_blank">SHOES 54035</a> for a few examples of NFTs that are already living in the IMVU world. A broader rollout, including creator tools and NFTs in Shop, as described in this post, are planned in the near future. </li></ul></li><li>What can an NFT be?<ul><li>Since an NFT is the certificate of ownership, nearly anything can be an NFT. On IMVU, you will first be able to create and own NFT clothing, hair, and some accessories; but over time, you’ll be able to also create and own NFT rooms, avatars, animations, furniture and more. </li></ul></li><li>How will NFTs work on IMVU?<ul><li>NFT items will be sold inside of the Shop and can be purchased using VCOIN. Once purchased, they will immediately be displayed in the NFT section of your inventory and shown to other users when they click the NFT icon on your profile badge. NFT buyers also get a gold profile badge and will have the ability to unlock future exclusive features. Unlike regular items, users will be able to resell NFT items they buy, with Creators getting a percentage of proceeds from the re-sale. </li><li>NFTs on IMVU will work natively for all users, meaning you don’t have to go through extra steps, such as connecting an external Web 3 wallet.</li></ul></li><li>How do IMVU NFTs affect the environment?<ul><li>NFTs on IMVU carry no gas fees - meaning there is no processing fee when you make or verify an NFT transaction. Our NFTs utilize the Immutable X platform, through the purchase of carbon credits. These carbon credits offset the energy footprint to zero for any NFT created or traded utilizing the Immutable X platform. </li></ul></li></ul> Benefits of creating NFTs on IMVU <ul><li>Why should I create an NFT vs. a regular item?<ul><li>NFTs provide new benefits and features to the IMVU community. An NFT comes with the ability for the owner to resell it, as well as exclusive access to a gold profile badge and other upcoming exclusive features. By creating an NFT, you are enhancing the IMVU experience for users while gaining an additional revenue stream from royalties on resells. NFTs also have the potential for increased overall value due to NFT exclusivity or limited runs. </li></ul></li><li>How do NFTs increase my earning potential?<ul><li>In addition to receiving a royalty with the initial sale, the original Creator can also earn royalties every time a user resells the NFT. The NFT has more functionality than a traditional IMVU digital item because it is owned, it can be resold, and it provides the user with exclusive benefits like a gold profile badge. Similar to the broader NFT market outside of IMVU, NFT prices in IMVU could become higher than traditional digital items due to the added ownership and functionality they provide. </li></ul></li><li>Are regular items being replaced by NFTs?<ul><li>Nope! IMVU will continue to support both NFTs and regular items. </li></ul></li><li>How are NFTs different from custom creations on IMVU?<ul><li>Custom items, like other regular items, are not capable of being resold and do not grant access to the exclusive profile badge or other future NFT-based features. </li></ul></li><li>How do NFTs protect against item theft?<ul><li>While there is no way to ensure the asset will not be imitated, an NFT proves that the particular item in question is authentic and owned by a specific user. Additionally, imitations of an NFT will not grant access to the exclusive profile badge or other future utility connected to NFTs. </li></ul></li></ul> What’s next? Stay tuned for events, contests and more opportunities exclusively for Creators as we work to bring this exciting new feature to our community. Get involved! Apply for the NFT Beta Group Interested in being involved in the development of the IMVU NFT experience? Apply to the NFT Beta Group here: <a href="https://www.surveymonkey.com/r/BQD26Y5" target="_blank">https://www.surveymonkey.com/r/BQD26Y5</a>!  Get excited about this new opportunity for IMVU Creators! NFTs on IMVU will provide an additional way for Creators to expand their business and creative talents, plus earn through resale.