Bloomberg provides an interesting video interview with IFEELGOODS, Inc CEO, Scott Silverman discussing Facebook Credits virtual currency.
Tag Archives: currency
An interesting video explaining the benefits of virtual currency over other forms of advertising on the internet.
” The network says that its Hub Culture Knowledge Brokerage Services has now negotiated a gold production contract in South America sold to a private European buyer using Ven.”
EA intends to integrate video ads into social games. The concept is called “incentivized social video” and the goal for the end user is to obtain points/level up/receive virtual currency (in-game) in exchange for watching an online video ad. On a side note, this is a potentially game changing promotional tool as virtually currency becomes integrated into more online activities besides games. In the long term, the trick is going to be providing some type of login or quiz that will require human interaction and thwart the bots that will be designed to game the system. A short, post viewing quiz that requires login would also provide critical feedback and invaluable data to the advertiser.
Further, a video campaign thoroughly embedded within the entire fabric of a contextually related social game would allow the advertiser to build a much more engaging and relevant experience with the end user if the advertiser is willing to “up the ante” and provide higher points or perhaps customized virtual goods that are earned exclusively by viewing a “series” of online videos and answering questions within an associated quiz widget. If this can be achieved online video advertising tied to rewards and loyalty programs should be frickin’ gi-normous. Articles and analysis from:
Games.com ” You know the feeling all too well. You hit a wall in your favorite Facebook game when you’ve run out of Energy. But instead of putting up for more, Madden suggests that players could watch a video ad for some more Energy. You get more Energy; EA gets its precious moola from advertisers; everyone is happy! Hey, at this point, anything beats shelling out cash. “
Inside Social Games ” With video advertising, Madden says he thinks advertisers can solve the challenges of engagement and scalability in social games. The trick is allowing the user to feel in control of the experience, as in not forcing them to watch an ad while playing game, and to slot the experience into the game in a targeted way. “
Forbes ” EA is already working on a new system that will allow advertisers to dynamically place brands or messaging across platforms and get measurable results that can be compared to traditional television or Internet advertising buys. “
Forbes has an interesting article that discusses the evolution of virtual currency beyond the traditional monetary form of credits. From the article:
” A big takeaway is that while we typically associate currency directly with money, the rise of the social web and quantification is shifting that reality to become more inclusive of kinds of capital that were formerly intangible. “
As widely anticipated, Facebook makes their virtual currency, Facebook Credits a mandatory option for all social game developers that use a payment system. Articles and analysis from:
The Wall Street Journal ” Facebook began testing Credits as a form of currency with some developers in 2009. It says they are now used in more than 350 applications from 150 developers, representing more than 70% of virtual goods transactions volume on Facebook.”
WebProNews “ Users and developers shouldn’t react with too much dismay. Other in-game currencies will be still be permitted, and Facebook intends to let developers keep 70 percent of the revenue from transactions that involve Facebook Credits.”
The Street ” While some game developers have their own currency payment methods, most large app companies already use Facebook Credits.”
GigaOM ” Facebook developers will have the option of using their own payment system in addition to Facebook Credits but Facebook will be offering incentives like early access to product features and on-site promotion to help get them on board fully.”
Forbes “ Forex traders and global conspiracy theorists take note: with close to 600 million people using the system, we could be watching a Dollar rival spring to life. To the bunkers! ”
TechCrunch “ This is about more than purple cows and gold coins, too — in the long run, Facebook has a strong incentive to maximize the number of users who are signed up for Credits. Right now the vast majority of Credits are spent on gaming, but it’s very likely that Facebook will eventually begin allowing third-party websites to offer a ‘Pay With Facebook’ option, and that may include everything from digital content to physical goods.”
Video: interviews with social game developers concerning the initial Facebook Credits announcement at the f8 Conference (about 10 months ago)
The New York Times discusses recent brand advertisement campaigns related to virtual goods in social games. From the article:
” So far, the virtual goods market largely consists of micro-purchases. Consumers typically pay $1 to $3 while playing games like FarmVille or Mafia Wars, both created by the social-gaming company Zynga, to get a jump on game rivals.”