Share this article
Avatar Social Platform IMVU Launches Ethereum Token to Power Its Virtual Economy
The VCOIN token launch got the green light from the U.S. Securities and Exchange Commission late last year.
Updated May 9, 2023, 3:14 a.m. Published Jan 12, 2021, 10:21 a.m.
Digital avatar and social networking platform IMVU announced the launch of its VCOIN digital token Tuesday, after getting the green light from the U.S. Securities and Exchange Commission (SEC) late last year.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- VCOIN is an Ethereum-based ERC-20 token that can be exchanged both on and off IMVU's platform.
- Users will be able to buy goods and services with the digital tokens on IMVU's platform, while earners will be able to convert tokens into cash if desired.
- “While most virtual platforms allow users to earn in-game credits, those credits cannot be converted into anything that holds value outside of that platform or game,” said John Burris, chief strategy officer.
- The token will be sold initially at a rate of 250 VCOIN for $1, or $0.004 per token.
- On Nov. 17, the SEC published a “no-action letter,” effectively granting IMVU permission to offer VCOIN to users, albeit with strict restrictions on how these tokens may be sold.
Read more: SEC Grants Digital Avatar Firm IMVU Permission to Sell Crypto Tokens
Plus pour vous
Ce qu'il:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Plus pour vous
VanEck's new Avalanche ETF filing to include staking rewards for AVAX investors
The fund will use Coinbase Crypto Services as its initial staking provider and pay a 4% service fee, with rewards accruing to the fund and reflected in its net asset value.
Ce qu'il:
- VanEck has updated its filing for an Avalanche ETF, VAVX, to include staking rewards, aiming to generate income for investors by staking up to 70% of its AVAX holdings.
- The fund will use Coinbase Crypto Services as its initial staking provider and pay a 4% service fee, with rewards accruing to the fund and reflected in its net asset value.
- If approved, the fund will trade on Nasdaq under the ticker VAVX, tracking AVAX's price via a custom index, and will be custodied with regulated providers, including Anchorage Digital and Coinbase Custody.
Top Stories
