IMVU Integrates Topper by Uphold to Streamline Digital Payments in the Metaverse
IMVU, the world’s largest web3 social metaverse, has announced its integration of Uphold’s fiat-to-crypto on-ramp, Topper. This integration aims to simplify payments and empower the largest and most active crypto economy in the metaverse. With over 700k daily active users spanning more than 100 countries, this partnership is designed to provide a frictionless user experience for mainstream adoption of digital assets in virtual social worlds.
Uphold CEO Robin O’Connell believes that web3 payments create more value, ownership, and participation than traditional web2 payments. The goal is to bridge the gap between virtual experiences and real-world financial activities by allowing users to seamlessly transact and transfer digital assets between virtual and real worlds.
Partnership Details
- Over 1.5 million IMVU users have created crypto wallets using the Uphold platform since the beginning of this partnership in September 2020.
- IMVU has integrated Uphold’s API with its token, VCOIN, which is listed on the Uphold exchange, allowing users to easily convert their in-game VCOIN earnings to fiat currency.
- IMVU has unveiled a new exchange-listed digital token, VCORE, integrated with Uphold’s fiat-to-crypto on-ramp, Topper.
This collaboration aims to offer a seamless and globally-accessible payment mechanism to IMVU members, according to John Burris, Chief Strategy & Blockchain Officer of IMVU. Topper’s integration seeks to streamline and simplify financial transactions for users and creators within the virtual world.
About Uphold
Ranked #1 in the San Francisco Business Times Fast 100 List, Uphold is committed to making web3 easy. As a Web3 financial platform, Uphold serves over 10 million customers in more than 140 countries. It provides businesses and consumers with easy access to digital assets and services. Uphold’s unique “Anything to Anything” interface gives end users seamless access to and between digital assets and national currencies and precious metals. Uniquely, Uphold smart routes orders across 30 trading venues delivering optimal execution and superior liquidity to customers.
Uphold is regulated in the U.S. by FinCen and State regulators; and is registered in the UK and Canada with the FCA and FINTRAC respectively. To learn more about Uphold’s products and services, visit uphold.com.
Hot Take: Empowering Virtual Economies through Seamless Payments
The integration of Topper by Uphold into IMVU signifies a significant step towards empowering virtual economies through seamless payments. By bridging web2 experiences with web3 benefits, this partnership seeks to foster an environment where individuals can create, earn, own, play, and participate in shaping the future of the metaverse economy. With over 20 million virtual goods bought and sold each month on IMVU alone, this collaboration paves the way for a more inclusive approach to digital asset management within virtual worlds.
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