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MetaJuice Announces the Launch of an NFT Marketplace in the IMVU Metaverse

The first phase of this NFT project is expected this fall. Unique to IMVU users in this process will be the ability to immediately “wear” the new NFTs and display them in the Metaverse. When wearing an NFT in a room or experience, users will be able to have a special “badge” and name color in the room and chat. Other users can click on the avatar to instantly see information and metadata from that NFT.

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MetaJuice, a company specializing in the development of blockchain-driven economies in the metaverse, announced the upcoming launch of an NFT marketplace in the IMVU metaverse. There are more than one million daily active users in this virtual world, CryptoMonday learned from a press release.

MetaJuice has been working with IMVU developers to develop an initial collection of NFTs that avatars can wear in this metaverse. The project relies on the power of the existing IMVU community. To purchase NFTs, eligible users can use VCOIN or even its sister token VCORE, which will soon be available outside the U.S. and Canada.

If you want to read more about MetaJuice and its newly launched NFT marketplace, and to be the first to find the most important business headlines in the world, download for free our companion app Born2Invest.

Wearable NFTs for Metaverse Avatars

The first phase of this NFT project is expected this fall. Unique to IMVU users in this process will be the ability to immediately “wear” the new NFTs and display them in the Metaverse. When wearing an NFT in a room or experience, users will be able to have a special “badge” and name color in the room and chat.

Other users can click on the avatar to instantly see information and metadata from that NFT.

IMVU users will be able to collect, display and resell

In addition, IMVU users can collect, display, and resell purchased NFTs in the marketplace. This is also a novelty in the IMVU metaverse – until now there was no marketplace here where NFTs could be resold, it was also not possible to give them away or manage them directly on the platform.

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In partnership with Immutable X, all NFTs created and traded on the IMVU platform will have no gas fees, enabling seamless transactions at launch.

Commenting on the news, Daren Tsui, CEO of Together Labs, IMVU’s parent company, said:

The NFT Marketplace will unlock new features that our users are excited about and provide even more ways for our 200,000 creators to make money. The introduction of scarcity, proof of ownership, and added value for virtual goods will further boost the IMVU economy.

IMVU boasts over 21.4 million units sold per month

This immense effort builds on IMVU’s thriving economy of more than 21.4 million units sold per month and a marketplace of more than 50 million virtual items. The NFTs will be integrated directly into the existing store so users can easily find and purchase them.

IMVU will launch with virtual clothing and accessories, and more will follow in the future. Soon, more than 200,000 active IMVU creators will be able to create, sell and buy NFTs directly using the IMVU Studio development environment.

Users who buy NFTs will be able to update their avatar accordingly to indicate that they are the owner of the respective NFT – regardless of whether the avatar is currently wearing the NFT or not.

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(Featured image by Andrey Metelev via Unsplash)

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Anne Kings is a reporter for the financial sector, often tackling Wall Street and shareholders' interests. She also covers the intersection of media and technology, and delves into interesting topics on entertainment. Sometimes she also writes about the cannabis industry, in particular CBD and hemp. She is currently based in New York.