REDWOOD CITY, CA, June 29, 2021 (GLOBE NEWSWIRE) -- (via Blockchain Wire) –– VCOIN, the first transferable digital currency designed for the metaverse, teamed up with Uphold, a digital wallet and trading platform that makes cryptocurrencies and other assets easily accessible, to launch a debit card that allows users to earn real in-game value and spend it on real-life transactions.
The partnership will allow US-based IMVU users to withdraw their VCOIN earnings into their Uphold account and, for the first time, spend it via an Uphold Debit Card accepted at over 50 million retailers and ATMs, while earning 2% cashback on every transaction.
This new offering expands VCOIN’s utility for holders and makes it even easier for earners of VCOIN to spend its value in real life. To obtain a card, users can visit therealvcoin.com/debit-card/.
“The ability to earn VCOIN in the metaverse and quickly access that value in the real world has been behind the premise of VCOIN,” said Nancy Beaton, VP of Strategy at VCOIN. “Partnering with Uphold on a debit card makes this promise even more frictionless and accessible, creating a practical means by which metaverse users can earn digital currency that holds real-world value to use in the real world.”
To sign up for the Uphold debit card, users must have or create an Uphold account and then download the Uphold Card app. Once downloaded, users can connect their Uphold Account to the app and order a card. To receive a physical debit card, there is a one-time fee of $9.95 USD. Digital-only debit cards are free to order and use through the Uphold Card app. For every purchase both online and in store, cardholders will earn 2% cashback into their Uphold Account.
VCOIN holders can also quickly access VCOIN as soon as it is in their Uphold wallet, with no transfer wait times or hidden fees.
VCOIN initially launched in IMVU, the leading friend discovery metaverse and social app, with a digital economy that facilitates 27 million transactions and 14 billion credits changing hands each month. IMVU received only the third crypto-centric no-action relief from the Staff of the U.S. Securities and Exchange Commission (SEC), enabling IMVU to sell VCOIN as a transferable non-security, thus unlocking its full potential to power peer-to-peer transactions and enable users to earn and convert VCOIN to real money for the real world.
“Uphold is dedicated to providing easier access and onramps to transformative digital currencies that will improve the virtual economy; and VCOIN is an exceptional digital currency that fits this bill,” said Uphold Chief Revenue Officer, Robin O’Connell. “We’re pleased to partner on this debit card so more users can spend their VCOIN at their favorite stores.”
The card will first be available for U.S. residents with international availability coming soon. VCOIN also plans to launch its own branded debit card through Uphold soon. That card will provide additional incentives for holders and users of VCOIN.
For more information on VCOIN, please visit: www.therealvcoin.com.
For more information on IMVU, please visit: www.imvu.com.
And to keep up with real-time information, follow VCOIN on the following social channels: Twitter, Medium, Discord, and LinkedIn.
About VCOIN
Built on blockchain technology, VCOIN is an ERC-20 token that can be purchased, earned and exchanged within peer-to-peer virtual economies -- and, for the first time, be transferred off platforms and converted to fiat. VCOIN enables users to buy, earn, hold and exit to real value, giving users control over their earnings. VCOIN is already used in IMVU, the leading friend discovery metaverse and social app, and both are Together Labs companies. www.therealVCOIN.com
About IMVU
Based in Silicon Valley, IMVU (imm-view) is the world’s largest friendship discovery and social platform, and a top 5 grossing app in the ios/Apple App Store and Google Play Store, where millions of users customize their avatars and explore over 400,000+ destinations to connect with each other. Through chat and events, IMVU’s massive metaverse enables and empowers friendship and human connection. A community of hundreds of thousands of users powers IMVU’s peer-to-peer economy by designing and selling virtual goods and destinations, adding to a growing catalog of 50 million items. The IMVU experience is available on the web, a desktop app, and as an iOS and Android app.
About Together Labs
Together Labs innovates technologies that empower people worldwide to connect, create and earn in virtual worlds. Our mission is to redefine social media as a catalyst for authentic human connection through the development of a family of products grounded in this core value. These include IMVU, the world's largest friendship discovery and social platform; VCOIN, the first regulatory-approved transferable digital currency; and WithMe, an upcoming mobile platform built on insights from the science of friendship. For more information, please visit https://togetherlabs.com/.
About Uphold
A digital money platform serving more than 7 million customers in more than 150 countries. Uphold today holds around $2.5 billion in customer assets. The Silicon Valley firm opens around 16,000 accounts a day typically as consumers seek a more versatile and cost-effective home for their financial lives. Leveraging blockchain technology, the platform provides both consumers and businesses with easy access to 51 digital assets, 28 national currencies, four precious metals and 50 fractional U.S. equities. Not all assets are available in all regions. Uphold’s unique trading experience - ‘Anything-to-Anything’ - allows customers to trade directly between asset classes, saving time and money. Uphold supports financial inclusion by enabling customers virtually anywhere to open an account in less than 5 minutes and invest with no minimum amounts. Customers can send money to virtually anyone with an email address free of charge. To learn more, please visit https://uphold.com/en-us/
Media Contact: Transform Group, imvu@transformgroup.com