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Welcome to Virtual Currency News!

Virtual Currency has emerged as a massive industry. The ability to exchange real world cash in exchange for virtual currency to be used to complete “micro-transactions” online for virtual goods and gifts is an incredibly lucrative opportunity.

With the explosion of social network platforms such as Facebook, MySpace, Bebo, Quepasa, Hi5 and many others, virtual currency has emerged as the method of payment that makes the most sense for completing “in-network” transactions.

Social Games that are now a staple of social networks provide a glimpse into the future of virtual currency. The ability to easily invite and prod your friends into playing a game on a social networking site like Facebook has created an incredible opportunity for developers to leverage the social graph and platform.

Companies like Zynga, Playfish and SGN are rushing to capitalize on the explosive growth and monetization potential of social games by releasing titles that absolutely blow away traditional end user enrollment models. As online members begin to attribute emotional values to virtual goods such as in-game items and gifts, they have begun to open their wallets and purchase virtual currency for payments.

Massive Multiplayer Online Games such as World of Warcraft and Virtual Worlds such as Second Life also provide emerging yet basically stable economies where virtual currencies are already established.

VirtualCurrencyNews.com is a headline news aggregator that provides brief summaries and links to the top stories breaking in the rapidly evolving virtual currency industry. Rather than paraphrasing existing content from News articles, Press Releases and blogs, we provide a sentence or two to wet your appetite and a direct link to the original article. The concept is to keep the site simple and fast.

Virtual Currency News is your online resource to locate news and information about this incredible online phenomenoon.

The Virtual Currency News Team


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One response to “About

  1. Perspective by Social Times: http://www.socialtimes.com/2010/09/myyearbook-recruits-meez-into-virtual-currency-exchange-service/

    Meez Joins myYearbook’s Virtual Currency Exchange
    Currency Connect Platform Now Serves 12M Monthly Unique Visitors Across Top Online Communities

    SANTA CLARA, Calif., September 22, 2010 – Today at the Engage! Santa Clara 2010 Virtual Goods Conference, myYearbook, the best place to meet new people and one of the 25 most-trafficked sites in the United States, announced the newest partner to its Currency Connect virtual currency exchange service, Meez, an immersive social community with the highest engagement online. With the addition of Meez, the virtual currency exchange now covers many of the largest teen social networks that host a combined 12 million monthly unique visitors and nearly two billion monthly pageviews.

    Launched in December 2009, Currency Connect is an initiative of leading social media companies to promote site registrations and drive daily active users by linking their virtual economies. It is the first-ever service to allow members of virtual world and social networking sites to exchange virtual currency. Similar to a real-world currency exchange, an exchange rate is established between partner sites.

    Currency Connect gives users an additional way to spend the virtual currency they’ve earned on their favorite sites. This exchange creates continued opportunities for users to buy or earn more currency. Meez members will soon be allowed to exchange Meez Coinz Cards for myYearbook Lunch Money and vice versa.

    “The success of Currency Connect relies on the success of our partners,” said Geoff Cook, CEO of myYearbook. “All Currency Connect partners have experienced a direct increase in registrations through this platform as well as benefitting their members with a new way to use virtual currency, proving Currency Connect is beneficial for social networks in more ways than one. We are confident that Meez, and additional future partners, will share in these successes as well.”

    “Virtual currency is an important factor for monetization on Meez, and gives our users the ability to purchase the virtual goods they want. myYearbook’s Currency Connect will give our users even more options with their virtual currency balances, and will give myYearbook users direct entry into the Meez experience,” said John Cahill, CEO, Meez. “We are constantly on the lookout for new and exciting things to offer the members of Meez Nation.”

    myYearbook CEO, Geoff Cook and Meez CEO, John Cahill, are each speaking at the Engage! Santa Clara 2010 Virtual Goods Conference today on the following panels:
    • 11:00 – 12:00p PT – Geoff Cook – Getting Beyond Facebook, Are Apple and Google Part of the Solution?
    • 1:00 – 2:00p PT – John Cahill – Offers, Ads & Alternative Payments, Finding the Right Mix

    About myYearbook

    myYearbook makes meeting new people fun and easy online and on your mobile phone. myYearbook combines innovative social games, virtual goods, social applications, and a robust virtual currency called “Lunch Money” to facilitate introductions and break the ice. The average myYearbook member visits the site 14 times per month and spends 11 minutes per visit, making myYearbook one of the most engaging social media destinations on the Internet. According to comScore, myYearbook is one of the 25 most trafficked sites in the United States as measured by page views, by minutes, and by minutes per visitor per month. myYearbook started in a single high school in 2005 and has grown to over 20 million members worldwide. For more information please visit: http://www.myYearbook.com

    About Meez
    Meez integrates cross-platform social entertainment into an immersive virtual community. Driving this experience are social game mechanics, video, and rich multimedia sharing. With over fifteen million registered players and the highest user engagement online, Meez connects users with one another and the brands and artists they care about. Meez investors include Anthem Venture Partners, Battery Ventures and Draper & Associates, and is based in San Francisco, CA. For more information, visit http://www.meez.com

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