LONDON, United Kingdom – In a significant development, Uphold, the renowned global Web3 financial platform, has revealed that it will be partnering with IMVU, one of the world’s largest Web3 social metaverses. This strategic integration involves Uphold’s Topper, a fiat-to-crypto on-ramp, aimed at streamlining payments and bolstering the metaverse’s largest and most vibrant crypto economy.
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Topper brings simple transactions to the next generation of IMVU’s flourishing creator economy by bridging a simple Web2 experience with the benefits of Web3.
With over 700k daily active users spanning across more than 100 countries, the need for a frictionless user experience is paramount to the mainstream adoption of digital assets in virtual social worlds. The broader partnership between Uphold and IMVU includes initiatives to transition IMVU from Web2 to Web3, allowing Web2 users to access VCORE and embrace the evolving Web3 ecosystem.
“We believe that Web3 payments will continue to be the way of the future, as it creates more value, ownership, and participation than traditional payments.”
Robin O’Connell, CEO of Uphold Enterprise
“On IMVU alone, over 20 million virtual goods are bought and sold each month,” said Robin O’Connell, CEO of Uphold Enterprise. “We have been proud to serve the IMVU users with our digital asset platform and now with Topper – providing a user-friendly gateway for purchasing the new VCORE.”
The ability to seamlessly transact and transfer digital assets between virtual and real worlds is pivotal for unleashing the full potential of the metaverse economy. Users want to earn where they play but then take those earnings into real life to spend, save, and invest, bridging the gap between virtual experiences and real-world financial activities.
Partnership Details:
Since the beginning of this partnership in September 2020, over 1.5 million IMVU users have created crypto wallets using the Uphold platform. With the integration of Topper, IMVU users have immediate access to utilize cryptocurrencies in the metaverse effortlessly.
IMVU has already integrated Uphold’s API with its token, VCOIN, which is listed on the Uphold exchange. Users with Uphold accounts can easily convert their in-game VCOIN earnings to fiat currency. VCOIN is the third digital token to secure a no-action letter from the staff of the SEC, proof of how a digital asset can be properly managed in the metaverse.
IMVU recently unveiled a new exchange-listed digital token, VCORE, integrated with Uphold’s fiat-to-crypto on-ramp, Topper. Now, IMVU users outside of US & Canada have access to VCORE. Designed for NFT and Metaverse creators and communities, VCORE emphasizes regulatory compliance and empowers the community to help shape the virtual world, fostering an environment where individuals can create, earn, own, play, and participate in its future.
“For nearly two decades, we have been building our community at IMVU. Our collaboration with Uphold was driven by their cutting-edge payment solutions, offering a seamless and globally-accessible payment mechanism to our members,” stated John Burris, Chief Strategy & Blockchain Officer of IMVU.
IMVU has a massive global community, a dynamic economy, and passionate creators/earners. Topper’s integration aims to streamline and simplify financial transactions, particularly catering to the challenges faced by users and creators within the virtual world.
To learn more, please visit topperpay.com/.
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About Uphold:
Uphold is a Web3 financial platform dedicated to simplifying the world of Web3. Serving over 10 million customers in more than 140 countries, Uphold offers businesses and consumers easy access to digital assets and services. Uphold’s “Anything to Anything” interface allows users to seamlessly move between digital assets, national currencies, and precious metals.
Uphold prides itself on smart routing orders across 30 trading venues to deliver optimal execution and superior liquidity. Uphold guarantees 100% asset reserve without lending out customer assets, pioneering radical transparency by publishing its assets and liabilities every 30 seconds on a public website (https://uphold.com/en-us/transparency).
Uphold holds regulatory licenses in the United States, the United Kingdom, Canada, and Europe, ensuring compliance with relevant authorities. To learn more about Uphold’s products and services, visit uphold.com.
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