New World Notes

Watch Live: IMVU's Mixed Reality Fashion Show Featured in Vogue

Starting to stream on YouTube (above) and Instagram just now, here's that mixed reality fashion show I mentioned recently, bringing together real designers with IMVU creators in an extravaganza featured by Vogue itself:

IMVU Partners With Top Real Life Brands to Sell Virtual Fashion, Becomes First Non-Crypto Virtual World to Mint Items as NFTs

I don't always get my metaverse news from Vogue Magazine, but when I do, I'm not surprised IMVU is involved:

“Fashion is at the epicenter of why people create avatars and connect with others on IMVU,” says Lindsay Anne Aamodt, the site’s senior director of marketing. “Part of that is because dressing up an avatar in a digital space gives people access to anything that they want to look like, and it’s hard to do that in the real world.” 

... Now, she’s spearheading a first-of-its-kind virtual fashion show on IMVU that unites the real-world labels Collina Strada, Gypsy Sport, Mowalola, Freak City, Bruce Glen, My Mum Made It, and Mimi Wade with expert creators who know their way around the 3D meshing and texturing process that brings IMVU’s clothes and accessories to life. The show will stream on May 27, after which IMVU users will be able buy and dress their avatars in the designer looks they saw on the virtual runway.

Subscribe to IMVU's YouTube channel to watch the show. Reached by phone after a whirlwind of preparing for this event over the last 6 months, Lindsay tells me that it was Vogue's global director who first reached out to IMVU about covering the show, after hearing about it from one of the brands. 

While there have been similar crossover events in other virtual worlds (for instance, Armani once had an official store in Second Life, with decidedly mixed results),  this is the most prominent real-to-virtual fashion launch in some time.

Another newsworthy feature:

IMVU's Plan to Make VCOIN the Most Used Blockchain-Based Currency in Virtual Worlds -- and the Real One

IMVU just announced the availability of VCOIN, an Ethereum-based digital currency for use in its virtual world with 7 million active users  -- and, by design, for buying and selling goods and services in the real world, too. From the announcement:

Available now for the IMVU desktop, mobile web, and web platforms, VCOIN is seamlessly integrated into the IMVU experience, enabling secure, global peer-to-peer transactions at the click of a button. IMVU’s high-velocity economy currently sees more than 27 million transactions and 13 billion Credits changing hands each month. With the addition of VCOIN, users can now easily and instantly pay for goods and services on the platform -- no complicated crypto wallets, or even bank accounts required -- and then convert their earned VCOIN into cash at an established rate.

This is a major move for at least a couple reasons: While blockchain-based currencies have attracted much hype and speculation, they are not actually used very much to, you know, buy goods and services. (As I never tire of noting, more people use Linden Dollars in Second Life than use Bitcoin every day.) At the same time, while there are other virtual worlds with a cash-out option for virtual currency, they also have small user bases -- and aren't authorized for use in the real world. While Linden Dollars outstrip Bitcoin in usage, for instance, they still only count some 400,000 daily users, and aren't intended for use as a RL currency.

Enter VCOIN, which hits the market with 7 million built-in customers. John Burris, IMVU's Chief Strategy Officer, tells me the company fully intends to encourage VCOIN's use outside IMVU -- and even approached the SEC with that in mind: