Creating NFTs on IMVU

Creators will be able to earn VCOIN by creating NFTs with IMVU Studio if they are part of the Earn Money Program and can purchase VCOIN. Learn about the Earn Money Program here. There may be some restrictions on countries and US states where VCOIN can be purchased or withdrawn.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. All users who can purchase VCOIN can purchase NFTs on IMVU. VCOIN earned through Gigs or gifted by friends can be used to purchase NFTs on IMVU

More Creators will be able to make NFTs on IMVU in the near future with IMVU Studio. Stay tuned for more information!

Unlike regular items, NFTs on IMVU allow you as a Creator to earn new VCOIN revenue from the initial sale and royalties every time a user resells your NFT Exclusive or Limited Edition NFT.

In addition, your earning potential could increase because the prices for NFTs on IMVU could become higher than prices for regular items.

You are also enhancing your customers’ experience since they receive a gold profile badge and access to other upcoming features when they purchase an NFT on IMVU.

Creating an NFT on IMVU will be similar to creating a regular product on IMVU Studio. 

Step 1: Select the option to mint your product as an NFT once you have created your item and are ready to publish. 

Step 2: Add additional information including a description, categories, attributes, total quantity, and a fixed sales price in VCOIN.

Step 3: After you pay a submission fee in VCOIN, NFTs on IMVU go through our Peer Review process and then appear in the Shop.

IMVU-based products will be NFT-able by default. All items not owned by IMVU will not be NFT-able by default.

Creators must opt-in to allow others to create an NFT from their products. NFTs on IMVU automatically become non-derivable and non-NFT-able.

You can only derive from an existing non-NFT item and mint a new NFT item if one of the following apply:

  • The Creator of the parent product is IMVU (e.g. base product); or
  • The Creators of the parent products, along with the full derivation history, have specifically opted-in to allow their derivations to be published as an NFT 

When an NFT on IMVU is sold, a royalty goes to the original NFT Creator and is distributed to Creators along the derivation chain if applicable.

Nope! IMVU will continue to support both NFTs and regular items.

Custom items, like other regular items, are not capable of being resold, and do not grant access to the gold profile badge, NFT-only rooms, or other future NFT-based features. 

Being part of the blockchain also allows for an NFT on IMVU resale to be traced with each transaction detail part of their codebase. 

Creators can determine the total quantity of an NFT on IMVU by setting it as 1 for an NFT Exclusive or anywhere between 2 to 10,000 for a Limited Edition NFT.

Similar to our current Shop and other online marketplaces, we have standard fees that go towards the submission, listing, transaction, royalty, and platform supporting NFTs on IMVU. See below for an explanation of each fee.

A flat 250 VCOIN ($1 USD) submission fee covers the cost of Peer Review and the cost of publishing your NFT on IMVU. This fee cannot be paid in Dev tokens.

A listing fee helps prevent the Shop from being flooded with items which would make it harder for your NFT to get attention and sell. 

A transaction fee covers the cost for payment processing and third party fees to our partners Uphold and Immutable X.

A royalty fee goes to the original NFT Creator and is distributed to Creators along the derivation chain if applicable. It also covers the cost of the Creator tools for NFTs on IMVU. 

A platform fee covers the cost related to future investments in the IMVU platform, ongoing research & development, maintenance of the servers that all IMVU experiences use, as well as platform-wide customer support, user and experience moderation, and user acquisition.

NFTs on IMVU rely on smart contracts, which use blockchain technology to track ownership of NFTs. These contracts behave similarly to how property and vehicle titles are used to track ownership of physical items. 

Other than Limited Edition NFTs which have a set quantity determined by the IMVU Creator, imitations of NFTs will not have the exclusive gold profile badge or access to future exclusive features. 

If you believe your intellectual property has been stolen, NFTs on IMVU will follow a similar process to our current DMCA process. IMVU can also remove stolen NFTs from the Shop.

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.