In a groundbreaking move, Uphold, the leading global web3 financial platform, and IMVU, the world's largest web3 social metaverse, are set to redefine transactions in the digital realm with the introduction of Topper. This fiat-to-crypto on-ramp, scheduled for integration by the end of November, promises to simplify payments and enhance the already thriving crypto economy within IMVU.
With over 700,000 daily active users spanning 100+ countries, IMVU recognizes the importance of a seamless user experience for the mainstream adoption of digital assets in virtual social worlds. Topper, a bridge between web2 simplicity and web3 benefits, is poised to bring straightforward transactions to the forefront of IMVU's flourishing creator economy.
Robin O’Connell, CEO of Uphold Enterprise, envisions a future where web3 payments dominate, creating more value, ownership, and participation than traditional web2 payments. IMVU alone witnesses over 20 million virtual goods transactions monthly, emphasizing the significance of a frictionless financial experience.
The broader Uphold and IMVU partnership aims to transition IMVU from web2 to web3, allowing users to access VCORE and embrace the evolving web3 ecosystem. Uphold, proud to serve IMVU users with its digital asset platform, introduces Topper as a user-friendly gateway for purchasing the new VCORE.
Seamlessly transacting and transferring digital assets between virtual and real worlds is pivotal for unlocking the metaverse economy's full potential. Users desire the ability to earn in the virtual realm and seamlessly translate those earnings into real-world financial activities, effectively bridging the gap between the two.
Since the partnership's inception in September 2020, over 1.5 million IMVU users have created crypto wallets using Uphold. With Topper's integration, IMVU users gain immediate access to effortlessly utilize cryptocurrencies in the metaverse. Uphold's API integration with IMVU's token, VCOIN, further enhances the user experience, allowing easy conversion of in-game earnings to fiat currency.
IMVU's recent introduction of VCORE, a new exchange-listed digital token, integrated with Uphold's Topper, extends access to users outside the US and Canada. Designed for NFT and Metaverse creators and communities, VCORE prioritizes regulatory compliance and empowers the community to shape the virtual world's future.
John Burris, Chief Strategy & Blockchain Officer of IMVU, emphasizes the collaboration's significance in providing a seamless and globally-accessible payment mechanism to the IMVU community. The integration of Topper aims to streamline financial transactions within the virtual world, catering to the unique challenges faced by users and creators in IMVU's dynamic and passionate global community.