Tag Archives: social network

Virtual Shoppers spend Real Money

A new study from PlaySpan and VGMarket indicates that women are spending twice as much as men to purchase virtual items. Articles and analysis from:

Gamasutra “For the purposes of the study, virtual goods encompassed items, game content, and currency in social games, massively multiplayer games, and online PC and console games, including add-on levels and other DLC.”

CNET ” When looking at the median spent on first-party purchases within social-network games, the average female spent $55 dollars, compared to only $30 for males.”

VentureBeat ” Social networks are leading the market, with 32 percent of respondents making purchases in social networks.”

PR Web (Press Release)

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Filed under Facebook, Playspan, social games, social networks, virtual currency, virtual goods

Marvelous Team Up: Wadja meets gWallet

Social Network Wadja and social media monetization firm, gWallet partner up to offer innovative new reward programs for end users. Article by:

PRWeb ” By connecting global brand advertisers, including Coca-Cola, Volvo and Microsoft, with Wadja’s users, gWallet enables individuals to earn virtual points in a variety of compelling ways. Wadja’s unique platform allows users to redeem these points and send free SMS across the globe.”

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Filed under gWallet, virtual currency, Wadja

Marvelous Team-Up: Tagged meets Social Gold

Gamasutra reports that Solid Gold, a virtual goods monetization company has partnered with Tagged to provide virtual currency options for its 80 million members.  From the article:

” Social Gold will provide Tagged members across the globe with the most relevant payment methods for purchasing virtual currency and subscriptions whether visitors prefer credit card, bank transfer, mobile payment or other options.”

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Filed under Social Gold, Uncategorized

Facebook Credits coverage from f8 2010

Facebook Credits was a hot topic at the recent f8 2010 Conference in San Francisco. Articles and extensive analysis from:

The Wall Street Journal ” Instead of consumers having separate virtual currencies on separate Facebook applications, Facebook Credits will enable people to use one currency across all apps, which will reduce “friction” and increase transactions, Zuckerberg said.”

Financial Times ” At 30 per cent, Facebook is likely to see significant revenues from its Credits business as social gaming and sales of virtual goods boom on the social networking service and sites linked to it through Facebook Connect and Open Graph.”

VentureBeat ” In a question and answer session about Facebook Credits, developers were clearly disturbed with the plan for Facebook to keep 30 percent of every transaction.” Note: More on the subject here

BusinessWeek ” With Credits, Facebook is wading into the deepening virtual-goods market, which will almost double to $1.6 billion this year and could reach $3.6 billion in three years, according to Atul Bagga, a ThinkEquity LLC analyst in San Francisco.”

AllFacebook ” Additionally, Facebook will begin “seeding” millions of Facebook users accounts with Credits for them to spend in applications. For example, let’s say that a user is playing FarmVille yet has never purchase a virtual gift in the game. In order to get the user familiar with the virtual goods purchase behavior, Facebook will provide free credits to the user.”

ReadWriteWeb ” To coincide with the growth of the application market, particularly in the area of social gaming, Facebook also announced the expansion of its official virtual currency, Credits.”

Silicon Republic ” The move is intended to take advantage of the growing external ecosystem that Facebook Connect is already creating, which includes nine out of 10 news service providers and the top 10 iPhone apps.”

bNet ” The advantage is a lower barrier to adoption for users, who would have the advantage of only having to pay into a single system, and being able to take their pool of Credits to any app.”

At f8 2010, Mark Zuckerburg provides an update on Facebook Credits at about the 5:30 mark of the video.

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Filed under Facebook Credits, Uncategorized

myYearbook strengthens Virtual Currency business

myYearbook adds a Senior VP of Business Development to strengthen its position in social gaming and virtual currency monetization efforts. Article and analysis by EarthTimes

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Marvelous Team Up: Meez invades MySpace

Virtual games developer Meez invades massive social network MySpace, offering Meez virtual currency “Coinz”. Press Release from Marketwire

Additional coverage by CNET and VentureBeat

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Spigit raises $10 Million for innovative collaboration model

Spigit has created a workplace social network that uses virtual currency to reward employees who contribute innovative ideas. Funding round of $10 Million by Warburg Pincus. Article by New York Times

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