IMVU's new blockchain-backed stablecoin goes live
The token, which has gotten a lot of attention for its interesting way of placating U.S. regulators, is now live for IMVU users in over 140 countries. IMVU's new fiat-convertible VCOIN goes live on the social network. Per a Jan. 12 company announcement shared with Cointelegraph, VCOIN is available for users of IMVU, starting today. IMVU already hosts over 27 million transactions a month using its non-blockchain-backed credits. VCOIN aims to give users involved in those transactions the opportunity to convert their earnings into value that they can use off the platform, both in peer-to-peer....
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Together Labs partnered with Immutable X to facilitate carbon-conscious NFT activity within the IMVU ecosystem. Immutable X, the scaling solution for layer-2 NFT protocol Immutable, has penned an agreement with Together Labs to integrate into the platform's native social metaverse IMVU. The partnership will foster the creation and distribution of NFTs within the game's virtual ecosystem.IMVU, pronounced "imm-view," is a blockchain simulation game akin to The Sims or Second Life in which players can design, inhabit and interact with virtual worlds. Parented by Silicon valley-based firm....
After getting some boundaries in which to operate from the SEC, IMVU's new blockchain-based token will be a major test case for crypto. When the Securities and Exchange Commission gave its blessing to social media platform IMVU to launch VCOIN, it was a major leap forward for acceptable scope of crypto applications. The implications for what sorts of projects the SEC considers a security are, in and of themselves, huge. But part of the appeal of VCOIN to the SEC is that, with its stable price and clear use case, IMVU has managed to demonstrate to the commission that the token is a means of....
On Sunday, the non-custodial market protocol Aave announced that the Aave DAO has approved a new stablecoin for the ecosystem called “GHO.” Aave Companies proposed the stablecoin during the first week of July and the collateral-backed stablecoin will be pegged to the U.S. dollar’s value.
A New collateral-Backed Stablecoin Crafted by Aave Companies Is Due to Launch After the Aave DAO Votes on Genesis Parameters
Aave explained on Sunday that the Aave decentralized autonomous organization (DAO) approved a proposal to create a stablecoin token called....
The SEC has granted permission to digital avatar firm IMVU to sell its Ethereum-based VCOIN digital currency, though with some restrictions.