11/17/2023 0 Comments M imvu sign up![]() ![]() If developers want to cash out, they can do so through a free market economy that allows them to sell credits directly to third-party registered credit brokers, who buy and sell credits on third-party websites. They keep the vast majority of the credits proceeds from sales of their virtual goods. Developers can get training on 3-D artistry and within a very short time upload their creations for a nominal credit fee. Users buy credits from IMVU and then use those credits to buy items from each other. Rosenzweig said the business model is dependent mostly on the sale of virtual currency. Those users are adding more than 4,000 customized 3-D items for sale each day. With the new interface, more users are clicking on “buy it.” In the past 30 days, more than 35,000 user-developers have sold virtual goods. They can then purchase the clothing with virtual currency by clicking on a “buy it” button. That interface allows users to try clothes on their avatars using a “try it” button. Users can create their own avatars for free, but IMVU got a big boost this summer after it launched a new user interface. Since 2004, IMVU’s own users have created more than 3 million items, giving IMVU the biggest catalog of virtual goods in the world. IMVU grew its revenue primarily by increasing the sale of virtual currency to its members, who use that currency to purchase virtual goods ranging from clothing for their avatars to furniture for their rooms. “I think it’s important that potential partners know which companies in this space are going to be around tomorrow,” Rosenzweig said. He’s speaking up about the success now because IMVU hopes to land partners that can drive more traffic to the site. Rosenzweig says he admires companies such as China’s Changyou and hopes to duplicate their success. If the company keeps up its momentum, it will have a shot at generating the kind of highly profitable larger business that publicly traded chat/virtual world companies in China have seen. For the past three months, the company has been profitable, Rosenzweig said. IMVU now has more than 40 million registered users and six million unique visitors a month, according to comScore. But today it’s starting to trumpet loudly that it has established a strong business with a $25 million annual revenue run rate.Ĭary Rosenzweig, chief executive and president of the Palo Alto, Calif.-based company, said in an interview the company has doubled its revenue in the past year in spite of the recession and the cooling off of the virtual world hype. IMVU has been fairly quiet about its success in virtual chat rooms, where people can create their own dressed-up 3-D characters and socialize in graphically beautiful settings. At the event, we will also announce 25 top game startups as the 2024 Game Changers. We're thrilled to announce the return of GamesBeat Next, hosted in San Francisco this October, where we will explore the theme of "Playing the Edge." Apply to speak here and learn more about sponsorship opportunities here.
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