(Representative Image: Shutterstock)
Blockchain firm MetaJuice, a subsidiary of Together Labs, on June 21, said it will launch NFT marketplace in the IMVU metaverse – an avatar-focused social network – having over 1 million daily active users.
NFT, or a non-fungible token, is a financial security consisting of digital data stored in a blockchain, a form of distributed ledger. The ownership of an NFT is recorded in the blockchain, and can be transferred by the owner, allowing NFTs to be sold and traded.
MetaJuice has collaborated with IMVU creators for its inaugural collection of wearable in-world apparel NFTs, harnessing the power of the existing IMVU community.
“The NFT marketplace will unlock new functionality our users are excited about, providing our 200,000 creators even more ways to earn. Introducing scarcity, proof of ownership, and ancillary benefits to virtual goods will supercharge the IMVU economy,” said Daren Tsui, CEO of Together Labs, the parent company of IMVU.
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