[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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97 Comments

Community posted 5 months ago Admin

Posted by “MaxSMoke777” on June 23, 2022.

[Archived]

What is the point of the NFT item when IMVU still has done nothing to really stem the flow of pirated items? Until they implement a "Hash" system for finger printing file assets and actively scan for reuploads under other accounts, piracy of items will continue to run a muck. The difference between an NFT and a normal IMVU item is minor. If they don't scan for reuploads by pirates, the items will continue to be knocked off and ruin any assumed-value.

0 Votes

Community posted 5 months ago Admin

Posted by “wiing” on June 23, 2022.

[Archived]

I am sorry I have zero interest in VCOIN and my bigger concern is, I have seen a fellow mesher's mesh specially made for IMVU inc. as gift end up in thieves catalog. There's no way you can prevent it. Thieves love challenges and love to steal things that are expensive. You have no idea how heart breaking and frustrating it is seeing our hard work being ripped and have to file DMCA ALL THE TIME!

0 Votes

Community posted 5 months ago Admin

Posted by “LestatDeLioncourt” on June 23, 2022.

[Archived]

Thank you for clarifying. One last question, please.

Will these NFTs sell any other place other than those owned by Together Labs?

0 Votes

Community posted 5 months ago Admin

Posted by “RigsK” on June 23, 2022.

[Archived]

Hi @LestatDeLioncourt thank you for the question. NFTs will only be purchasable using VCOIN.

0 Votes

Community posted 5 months ago Admin

Posted by “Sylaraia” on June 23, 2022.

[Archived]

Okay, to recap, profits for VU and creators are down. The cause of that has been debated to death in another forum thread. I'm going through deja vu here all over again, because IMVU's answer to the Great Recession over a decade ago was to do the complete opposite of what economists tell businesses to do in a bad economy, and it raised prices. Here we are again, heading into a recession with inflation rampant and rather than lowering the absurdly high cost of the credits, they choose to try and put out a trinket; a bauble; a shiney, worthless, can't be eaten and sure as hell won't ever be worth anything a year from now, NFT at the end of the trend in the hopes that some dashing prince will ride in and buy it?

If you want to raise profits, IMVU, here's some suggestions grounded in reality. There's first:

A. Realize that $3 for 1000 credits is fantasy land and lower the cost. No, don't run more back-to-back-to-back sales; lower the damn cost.

B. Move the truck (I said truck!) out of California, the land where businesses go to get taxed to death and get nothing in return from the government. You're a damn tech company; 99.9% of your people wouldn't even have to change residence if they don't want to (although why anyone would want to remain there mystifies me). The only people who would need to be on the new site is the lonely security guard to guard the server and the people who maintenance it! The move pays for itself within the year and then profits soar!

C. Stop flooding the market with predits and devaluing your own product. Stop believing that everyone is going to become a VIP! They're NOT. No one wants 90% of what is on the VIP list, and going into a recession, subscriptions to luxuries are the first thing that gets axed.

0 Votes

Community posted 5 months ago Admin

Posted by “Jazper” on June 23, 2022.

[Archived]

If this will keep people on imvu from stealing textures this would be a great thing. People using extractors to steal your textures and or trying to change them claiming them as their own!!! Sounds good to me this idea however id like to have more info on this.

0 Votes

Community posted 5 months ago Admin

Posted by “NEY” on June 23, 2022.

[Archived]

I really don't understand, they want more money, as always, I'm sure that nobody uses the vcoin in many countries and now this? do you think it will give them profitability xD? because they don't invest in improving the game like 3d design or infrastructure, nothing changes in imvu except clothes.

0 Votes

Community posted 5 months ago Admin

Posted by “Gatho” on June 23, 2022.

[Archived]

I only can see the fall of a kingdom....

0 Votes

Community posted 5 months ago Admin

Posted by “LestatDeLioncourt” on June 23, 2022.

[Archived]

Question:

@RigsK said... "How will NFTs work on IMVU? NFT items will be sold inside of the Shop and can be purchased using VCOIN."

Can these also be purchased with Credits?

Does this market only work with VCOIN?

The reason I ask is many cannot use, buy or sell VCOIN.

Thanks...

0 Votes

Community posted 5 months ago Admin

Posted by “RainEvenMorn” on June 23, 2022.

[Archived]

This wont get off the ground but yes....I have the same question as Gaf. Surely it's only for original meshs? I'm sure imvu are aware most meshs these days on imvu are downloaded from ready made asset sites. How is that a Nft. If it's from derived meshes does the mesher get royalties as well?

0 Votes

Community posted 5 months ago Admin

Posted by “gaf210” on June 22, 2022.

[Archived]

I recognize that this imvu NFT at least will give you the extra benefit of being able to use it in a chatroom, different than the use of regular nfts (don't have any use XD) that i think are the ones being referred in the comments.

The idea is not bad, we will see about the execution but it sounds reasonable to use vcoin for this as well, at this point, vcoins didn't differ much from credits but with this , its being given an extra valid use.

Will only original meshes be allowed to be an nft? would there be a validation stage or high initial fees to make one in order to keep theft out of the equation? I would like to see how this evolves

0 Votes

Community posted 5 months ago Admin

Posted by “ch0ux” on June 22, 2022.

[Archived]

Absolutely not. Announcing this just as cryptocurrency is crashing is breathtakingly tone deaf.

0 Votes

Community posted 5 months ago Admin

Posted by “Saturrn” on June 22, 2022.

[Archived]

i'm sorry but this is sad

0 Votes

Community posted 5 months ago Admin

Posted by “PrinceCyril” on June 22, 2022.

[Archived]

Hot take but this might actually push more people away

0 Votes

Community posted 5 months ago Admin

Posted by “Sylaraia” on June 22, 2022.

[Archived]

Seriously - the world reinvents the pet rock and you're trying to cash in on something that on its face is a scam? The NFT 'fad' is already beginning to pass as people realize that there's nothing significant about having exclusive rights to a digital image anyone can replicate with a screenshot. So, you either hoard your image in a digital vault, like Gollum with his precious, or you open it up to the world out of some deranged sense of smug superiority, and people will just screenshot it and roll their eyes at the foolishness. Bah.

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.