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Together Lab's VCOIN.
Together Labs
March 30, 2022 6:21 AM EDT

Social platform IMVU has long been a big player in the metaverse game, with 7 million monthly users. Last year, parent company Together Labs took things a step further with the launch of VCOIN, a blockchain-based cryptocurrency that users can spend within IMVU or convert to real-world money. VCOIN, the only active cryptocurrency for which the U.S. Securities and Exchange Commission has issued a no-action letter (giving it legal stability), creates the “building blocks” for other metaverses to establish their own future crypto­currencies, says Together Labs CEO Daren Tsui.

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Write to Julia Zorthian at julia.zorthian@time.com.

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