Gloebits enables cash outs and raises sale limits

All approved Gloebits merchants can now withdraw their in-world proceeds through PayPal.
The cash-out limit of 5,000 Gloebits is also going up, based on the merchant’s transaction history and level of identity verification.
Cash-out limits will continue to rise in the future, Gloebits CEO Christopher Colosi told Hypergrid Business. 
Christopher Colosi
“As time goes by, we’ll need higher and higher limits, and the system is now in place for that,” he said. “The next couple of steps on that latter will be $50 and $100 per month for a 30-day rolling limit.”
To get a raise in limit, a merchant should be close or have hit the limit. It means, for instance, a merchant who is trading only five dollars per month cannot just get a raise by requesting it, Colosi said.
“It adds risk to everyone without providing any additional value, he said. “If they were expecting a big uptick in business, we’d work with them on that, of course, but generally that doesn’t happen over night.”
The company has been using information from its payment processors to verify identity information provided, but will need to do additional identity verification when higher amounts of money are involved both for security and taxation purposes.
“For US users, for instance, at some point we may need them to fill out a W-9 form for tax reporting, but there may not be a need to ask a merchant doing $40 of business a month to fill that out,” he said. “This is a constantly changing space, so I can’t tell you what we’ll do at what limits, but for a merchant who moves up above $1,000 per month, perhaps it’s worth it for us to send them though a third-party identity verification service which charges us $40 per person. Or maybe we’ll stick to our own, less expensive mechanisms. If we keep fraud low in our system, we keep costs low for everyone. That’s our goal.”
The company is also working on improving functionality, such as the “Buy Currency” button in OpenSim viewers, reducing the amount of messages and notifications sent in-world to users on Gloebits-enabled regions, and improving the website.
A “Buy Currency” button appears on the viewer on a Gloebits-enabled region when users authorize Gloebits, but the button is currently not working. Gloebits developers are now working on it, said Colosi, but it will require some cooperation from the rest of the OpenSim developer community.
“We get asked to make this work, and this process has a lot of challenges, and we hope that the core and viewer teams will work with us to redesign it at some point,” he said.
Reducing messages sent to users
Gloebits is also working to reduce messages that users get on every new session on a Gloebit-enabled region since many users don’t want these messages to appear all the time.
However, because many users are still asking for support or help with authorizing avatar accounts for Gloebits and with loading and other issues, it means these messages are still needed, especially while the “Buy Currency” button issue is being resolved, said Colosi.
“The only place they can currently get these messages on demand is by clicking on their balance, but they have no way to know that,” he said. “Ideally, when they try to purchase something, they would get our messaging, but this purchase runs through the ‘Buy Currency’ flow which we can’t intercept. So, we’ve done the best we can to reduce spammy messages, but keep things easy for users.”
Boost in-world instructions and images
Many grids want to provide in-world instructions and imagery to their users to make them know that they are using Gloebits. They are using in-world billboards, internal messaging, and links to the Gloebit website.
“It is great to see grid owners working so hard to provide the best possible experience for their users, so we love these questions,” he said. “We don’t yet have affiliate logs and builds, but we’ll work on that. Many of the grids have put together their own displays in the meantime. ”
In addition, Gloebits has improved the install or configuration instructions on its website, and grids can now link to it on the Gloebits app discovery page.
More grids using Gloebits
Activity involving Gloebits is increasing, although that varies from grid to grid. For example there is less activity and fewer transactions on about six grids that are not using Gloebits as their major currency but only on some regions, and on three others that are still testing Gloebits, according to Colosi.
Mobius Grid uses the currency grid-wide. TheKaz grid is also using Gloebits grid-wide, and all their regular residents have signed up for Gloebits.
The Great Canadian Grid, which remains the biggest user of Gloebits currency with most merchants, has already installed and is testing the module at the Gloebit Malls. ZanGrid has 18 regions in total enabled for Gloebits. TanGle Grid is using Gloebits on its Gloebitville and EXPO Isle Var regions.
3rd Life Grid has two Gloebits enabled shopping regions with 64 shops in total and the shops are available for hypergrid creators from any grid.
Other grids and regions using the currency include MisFitz Grid, Baller Nation, Van Den Brande 3D Design on the Gnosis Grid, and Seven Oaks and That Place Amusements on OSgrid.
Next Reality Grid and WorldThreeD are also testing the currency.
Virtual Worlds Grid has not enabled Gloebits, but they will be doing in depth research to find out if Gloebits will be used in the future before enabling, grid owner Myron Curtis told Hypergrid Business, since it’s had a bad experience with another multi-grid currency.
“I am still unhappy with how Open Metaverse Currency was forced out of service by the development team without the courtesy of even surveying the grid owners to determine the impact of that action, and I am looking for ways that currency can be added without being jeopardized by someone’s personal attitude,” he said.
Grids are improving integration
Mobius Grid has enabled Gloebits grid-wide, and it comes with all rented regions, owner Shawn Corr — also known as Serra Royale in-world — told Hypergrid Business.
Mobius Grid has implemented Gloebits grid-wide. (Image courtesy David Kariuki.)
Great Canadian Grid has put in place an ATM to make it easy for

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