Bloomberg provides an interesting video interview with IFEELGOODS, Inc CEO, Scott Silverman discussing Facebook Credits virtual currency.
Tag Archives: video
An interesting video explaining the benefits of virtual currency over other forms of advertising on the internet.
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. “
Mediapost analyzes a recent study by Tubemogul that indicates that video ads on Facebook utilizing Virtual Currency as an incentive have much higher viewing times. From the article:
” Completion rates for Facebook’s virtual currency and app in-banner video ads were both above 40% compared to about 25% for in-banner video ads on other sites.”
The Open Metaverse Currency (OMC) is a virtual currency for the OpenSim Hypergrid.
Robert Scoble interviews one of the Supersonic Ads co-founders about their virtual currency platform and how it integrates with FarmVille and other social games.
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.”
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.