Getting Started with NFTs on IMVU

Share this article! Here's a short link you can use: http://im.vu/help1043

What are NFTs?

NFTs (non-fungible tokens) are exclusive, rare, collectible items with a digital certificate of ownership that are tracked on a public blockchain for authenticity. NFTs allow anyone who owns a unique or limited edition item to verify that they are the official owner of that individual item. 

What are NFTs on IMVU?

NFTs on IMVU come in two forms: NFT Exclusives and Limited Edition NFTs. NFT Exclusives are unique, one-of-a-kind items that can only be owned by one person. Limited Edition NFTs are rare, collectible items that can be owned by a set number of people determined by its total quantity.

Since an NFT is the certificate of ownership, nearly anything can be an NFT. On IMVU, you can buy, resell, and create your own NFT clothing, hair, and accessories.

Over time, you will also be able to also create and own NFT rooms, avatars, actions, furniture, and more. Owning an NFT on IMVU unlocks a gold NFT profile badge, username, and other exclusive features.

Why is IMVU bringing NFTs to the platform?

We believe that Creators are best served when they are able to exert control over their art and continue to earn while their products gain new life and earn royalties through resales. Additionally, IMVU users will be able to truly own their products, with the ability to resell them.

In the future, we plan to implement additional benefits and features related to NFTs on IMVU. For example, you may be able to access special IMVU rooms or take your NFTs off platform into compatible metaverses, etc.

When will NFTs on IMVU launch?

You can now buy and resell NFTs on IMVU in the Shop on IMVU Mobile and IMVU Desktop.

Users who are eligible to purchase VCORE have the option to buy NFT using their available VCORE balance at the checkout page of the IMVU Website. 

How do NFTs on IMVU work?

NFTs on IMVU can be bought and sold right in the Shop with VCOIN. Once purchased, both NFT Exclusives and Limited Edition NFTs will be displayed in the NFT Exclusives category of your inventory. Other users can click on the gold NFT badge on your profile disc to see what NFTs you own on IMVU.

NFT buyers get a gold username, NFT badge and will have the ability to unlock future features. Unlike regular items, you will be able to resell NFTs on IMVU you buy, with Creators getting a percentage of proceeds from the resale.

NFTs on IMVU will work natively for all users, meaning you don’t have to go through extra steps, such as connecting an external Web3 wallet. In the future, you will be able to transfer NFTs on IMVU to external wallets and potentially take them to other platforms. 

How are NFTs on IMVU different from regular items on IMVU?

NFT Exclusives are unique, one-of-a-kind items that can only be owned by one person. Limited Edition NFTs are rare, collectible items that can be owned by a set number of people determined by its total quantity.

The total quantity of a specific NFT on IMVU is determined by the Creator and no more will be created after this number, and the proof of ownership lies on the blockchain.

NFTs on IMVU are easy to distinguish from regular items. NFTs on IMVU will be in the NFT Exclusives category of the Shop, marked with the gold NFT badge, and are priced in VCOIN. There will also be a confirmation screen before purchase that will validate that the item is an NFT.

Regular and custom items are not capable of being resold and do not grant access to the gold NFT badge or other future NFTs on IMVU-based features.

I’ve heard that other NFTs are scams. How are NFTs on IMVU different? 

NFTs on IMVU are made to be created, owned, and worn by IMVU users. Like any IMVU item, if an NFT on IMVU is reported through IMVU’s DMCA process, IMVU will take appropriate action against the NFT and its creator. IMVU can also remove stolen NFTs from the Shop.

How safe are NFTs on IMVU?

NFTs on IMVU are secured by the blockchain, which is an unchangeable record of transactions. This means that anyone can easily see that your NFT on IMVU is owned by you and you alone.

In addition, the files are hosted on IPFS, a decentralized file-hosting service built to last. Meaning that even in the unlikely event that IMVU goes down, your files will still be yours and accessible.  

How do NFTs on IMVU affect the environment?

NFTs on IMVU have a minimal impact on the environment because they utilize the Immutable X platform and carry no gas fees - meaning there is no blockchain processing fee when you make or verify an NFTs on IMVU transaction. 

Immutable X uses rollup technology to compress the amount of information required to trade or create NFTs on IMVU secured by Ethereum, via batched zero-knowledge proofs.

Immutable X will buy carbon credits needed to offset the energy footprint of any NFT on IMVU created or traded on Immutable X to zero through their certified climate conscious partners Trace and Cool Effect.