Buying NFTs on IMVU

Share this article! Here's a short link you can use: http://im.vu/help1044

Who can buy NFTs on IMVU?

All users who can purchase VCOIN can purchase NFTs on IMVU. There may be some restrictions on countries and US states where VCOIN can be purchased or withdrawn. See full list here. 

All users can send VCOIN, receive VCOIN, and convert VCOIN to Credits. VCOIN earned through Gigs or gifted by friends can be used to purchase NFTs on IMVU.

When can you buy NFTs on IMVU?

You can buy and resell NFTs on IMVU in the Shop on IMVU Mobile and IMVU Desktop. Creators will soon be able to make and sell NFTs on IMVU. 

Where do you buy NFTs on IMVU?

You can buy NFTs on IMVU right in the Shop. The new NFT Exclusive Category will show you all of the NFT Exclusives and Limited Edition NFTs available on IMVU.

You can filter by NFT products and NFTs on IMVU also have a gold NFT badge similar to imvu+ and AP items. When you click on an NFT, you can also see other NFTs made by the same Creator.

You can also purchase NFTs on IMVU while you’re chatting with someone in a Live Room. If you see them wearing an NFT on IMVU, you can click/tap on the avatar or NFT badge next to their name to buy any of the NFTs on IMVU they are wearing which are listed for sale. 

How do you buy NFTs on IMVU?

You can purchase NFTs on IMVU with VCOIN in two ways: you can (1) visit the NFT Exclusives category in the Shop or (2) select a user in a Live Room who is wearing and selling an NFT on IMVU.

You can only buy one NFT Exclusive or Limited Edition NFT at a time. You cannot gift NFTs on IMVU, but you can gift VCOIN.

NFT Exclusives are unique, one-of-a-kind items which can only be owned by one person. Limited Edition NFTs are rare, collectible items which have a total quantity that is set and no more of that specific item design will be made afterwards.

When buying a Limited Edition NFT, the lowest priced NFT in the set will be displayed. You can only own one item from a Limited Edition NFT set at a time.

If the specific Limited Edition NFT that you are purchasing becomes unavailable before you finish buying, you will have the option to try and purchase an identical Limited Edition NFT in the same collection at the same price.

Click this link to learn the different ways to buy NFTs on IMVU.

How many NFTs on IMVU can I buy?

You can only buy one NFT Exclusive or Limited Edition NFT per transaction. Although Limited Edition NFTs have a total quantity greater than one, you can only own one Limited Edition NFT at a time.

These guidelines shouldn’t interfere with your shopping experience. These rules are in place to prevent users from having duplicate products and to give everyone a fair chance to buy NFTs on IMVU.

My state or country does not allow me to buy/withdraw VCOIN. If someone gifts me VCOIN, can I use that to buy and resell IMVU NFTs on IMVU? 

Yes. You are only restricted to buying or withdrawing VCOIN, but if it’s gifted to you, you can use it to buy NFTs on IMVU. You will also have the option to resell that NFT.

Note: If you resell an NFT on IMVU, the VCOIN you will receive from that sale cannot be withdrawn through Uphold. See the complete list of states and countries restricted in purchasing and withdrawing VCOIN here.

How are the prices of NFTs on IMVU determined?

The initial sale price for NFTs on IMVU are determined by the Creator, and it must be priced at a minimum of 250 VCOIN ($1 USD). The future resale price is determined by the owner of the NFT on IMVU who chooses to resell it.

Why does the price of NFTs on IMVU change over time?

Just like any collectible item, the scarcity and variable demand for items will mean that the prices may change. It depends entirely on what the current owner chooses to set as the price and what is considered reasonable by the buyer.

Why is two-factor authentication required?

We value your security and want to ensure the highest quality of protection for your IMVU account and NFTs. Therefore, two-factor authentication (2FA) is required for any transactions involving VCOIN.

To protect your NFTs, you will not be able to turn off 2FA unless you’ve sold all your NFTs. Learn how to set up 2FA here.

What is VCOIN?

VCOIN is IMVU's first digital currency. Built on blockchain technology, VCOIN can be purchased, earned, and exchanged within the IMVU platform. Most importantly, it can be transferred off the platform and converted to real cash! Learn more about VCOIN here.

What is a VCOIN Wallet?

Your VCOIN Wallet displays the total amount of VCOIN in your IMVU account. You will be able to view the total amount of available VCOIN, your transaction history, and options to withdraw VCOIN to your Uphold account, buy more VCOIN, and send VCOIN as a gift to another user. 

What is Uphold?

Uphold is a licensed and secure digital money platform that allows you to buy digital assets (such as cryptocurrency) after a stringent verification process. It is IMVU's partner that allows you to convert cryptocurrencies, like VCOIN, to cash or other currencies. 

Uphold can also link to your bank account and directly deposit funds once you have converted your digital assets into a local currency.

What is Immutable X?

Immutable X is IMVU’s third party partner for NFTs. Through our partnership, all NFTs created and traded on IMVU will incur zero gas fees - meaning there is no processing fee when you make or verify NFT transactions on IMVU. Learn more about Immutable X here. 

What is a token ID?

Your token ID is the unique serial number of your item. 

What is a contract address?

The contract address points you towards the smart contract that underlies our NFT transactions on IMVU. This holds us accountable by letting you, the user, or Creator, see everything we’re doing on a website and a contract that we cannot edit. If the blockchain smart contract states that you would get a certain percentage every time someone resells your item, you can verify that it is happening and is correct.

What is a token standard?

A token standard is the set of rules that the smart contract uses when executing. All of our NFTs on IMVU use the ERC-721 token standard and is the standard across the industry for defining and using NFTs. Others exist, but IMVU has chosen to go with the most well-understood and tested standard.

What is sales history?

The sales history allows you to review all past transactions for an NFT on IMVU and see how much it previously sold for. In addition, you can see everyone who has owned it before you.

What is a smart contract?

A smart contract is a piece of programming that lives on the blockchain and executes automatically, without the input of a centralized source. They are used to track ownership of digital items, similar to how property and vehicle titles are used to track ownership of physical items.

Because all transactions are recorded on a public blockchain, they are immutable and censorship resistant as no central part has rights to control or alter ownership.

On IMVU, smart contracts are primarily used to automatically guarantee royalties to Creators no matter whether the sale happens on our platform or somewhere else. If your creation is sold, you get a piece of it.