Comments on: Virtual Goods are a Major Source of Revenue for Social Game Developers http://www.insidesocialgames.com/2008/08/20/virtual-goods-in-social-networks/ Tracking Innovation at the Convergence of Games and Social Platforms Fri, 12 Mar 2010 16:25:57 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Ahmad Blog » Virtual Goods are a Major Source of Revenue for Social Game Developers http://www.insidesocialgames.com/2008/08/20/virtual-goods-in-social-networks/comment-page-1/#comment-3052 Ahmad Blog » Virtual Goods are a Major Source of Revenue for Social Game Developers Sat, 24 Jan 2009 18:06:24 +0000 http://www.insidesocialgames.com/?p=466#comment-3052 [...] very big businesses built upon ubiquitous social networking /IM platforms respectively. More:  Virtual Goods are a Major Source of Revenue for Social Game Developers Posted by: Ahmad No [...] [...] very big businesses built upon ubiquitous social networking /IM platforms respectively. More:  Virtual Goods are a Major Source of Revenue for Social Game Developers Posted by: Ahmad No [...]

]]> By: Robert Tolmach http://www.insidesocialgames.com/2008/08/20/virtual-goods-in-social-networks/comment-page-1/#comment-685 Robert Tolmach Fri, 05 Sep 2008 00:59:46 +0000 http://www.insidesocialgames.com/?p=466#comment-685 $35 million a year on facebook virtual gifts! Now, the dollars you spend to send virtual gifts can also make the world a better place. A new nonprofit app on facebook, Changing The Present, makes it easy. Your dollar goes to the nonprofit you choose, and the picture your friend receives shows what you helped accomplish. THEN: send a picture of a cupcake NOW: help feed a hungry child THEN: send a picture of lips NOW: help fund cleft palate surgery for a child's smile THEN: send a picture of a flower NOW: help preserve acres of the rainforest You can choose from among more than a thousand $1 donation gifts from hundreds of leading nonprofits. Imagine the impact we can make together as this new kind of gift catches on! Please help spread the word. Here’s the app: http://www.new.facebook.com/apps/application.php?id=2551062524 And here’s the related website: http://www.ChangingThePresent.org ( Full disclosure: my company, WellGood LLC, consults to ChangingThePresent ) $35 million a year on facebook virtual gifts!

Now, the dollars you spend to send virtual gifts can also make the world a better place.

A new nonprofit app on facebook, Changing The Present, makes it easy. Your dollar goes to the nonprofit you choose, and the picture your friend receives shows what you helped accomplish.

THEN: send a picture of a cupcake
NOW: help feed a hungry child

THEN: send a picture of lips
NOW: help fund cleft palate surgery for a child’s smile

THEN: send a picture of a flower
NOW: help preserve acres of the rainforest

You can choose from among more than a thousand $1 donation gifts from hundreds of leading nonprofits.

Imagine the impact we can make together as this new kind of gift catches on!

Please help spread the word.

Here’s the app:
http://www.new.facebook.com/apps/application.php?id=2551062524

And here’s the related website: http://www.ChangingThePresent.org

( Full disclosure: my company, WellGood LLC, consults to ChangingThePresent )

]]> By: Inside Facebook » Facebook Selling Virtual Gifts at $30-40 Million/Year Rate http://www.insidesocialgames.com/2008/08/20/virtual-goods-in-social-networks/comment-page-1/#comment-654 Inside Facebook » Facebook Selling Virtual Gifts at $30-40 Million/Year Rate Tue, 02 Sep 2008 21:12:57 +0000 http://www.insidesocialgames.com/?p=466#comment-654 [...] Virtual Goods are a Major Source of Revenue for Social Game Developers [...] [...] Virtual Goods are a Major Source of Revenue for Social Game Developers [...]

]]> By: Los mejores juegos de la semana | Facebook Noticias http://www.insidesocialgames.com/2008/08/20/virtual-goods-in-social-networks/comment-page-1/#comment-526 Los mejores juegos de la semana | Facebook Noticias Mon, 25 Aug 2008 12:23:46 +0000 http://www.insidesocialgames.com/?p=466#comment-526 [...] Virtual Goods are a Major Source of Revenue for Social Game Developers [...] [...] Virtual Goods are a Major Source of Revenue for Social Game Developers [...]

]]> By: Facebook adds more social features to ads » VentureBeat http://www.insidesocialgames.com/2008/08/20/virtual-goods-in-social-networks/comment-page-1/#comment-474 Facebook adds more social features to ads » VentureBeat Thu, 21 Aug 2008 21:20:27 +0000 http://www.insidesocialgames.com/?p=466#comment-474 [...] speaking, these engagement ads may be worth something. Virtual goods are already starting to make more money for third-party application developers; certainly, branded goods are an area for [...] [...] speaking, these engagement ads may be worth something. Virtual goods are already starting to make more money for third-party application developers; certainly, branded goods are an area for [...]

]]> By: Daniel James http://www.insidesocialgames.com/2008/08/20/virtual-goods-in-social-networks/comment-page-1/#comment-455 Daniel James Thu, 21 Aug 2008 00:43:32 +0000 http://www.insidesocialgames.com/?p=466#comment-455 Sir, we have been doing this for years (since Feb 2005) with Puzzle Pirates, in the US market, and Habbo Hotel has been doing it for longer starting in Europe and going worldwide. Also, World of Warcaft is not a Korean MMO and uses the subscription business model, not microtransactions. Excellent examples of the prevalent of microtransactions in social environments in Asia would be Cyworld in Korea (I think est. $200mm+ in 2006) and Tencent's QQ in China. Both are very big businesses built upon ubiquitous social networking/IM platforms respectively. The astonishing thing is that Facebook and Myspace have not taken the fairly simple step of building a wallet and the other supporting pieces of a virtual economy. Sir, we have been doing this for years (since Feb 2005) with Puzzle Pirates, in the US market, and Habbo Hotel has been doing it for longer starting in Europe and going worldwide.

Also, World of Warcaft is not a Korean MMO and uses the subscription business model, not microtransactions.

Excellent examples of the prevalent of microtransactions in social environments in Asia would be Cyworld in Korea (I think est. $200mm+ in 2006) and Tencent’s QQ in China. Both are very big businesses built upon ubiquitous social networking/IM platforms respectively. The astonishing thing is that Facebook and Myspace have not taken the fairly simple step of building a wallet and the other supporting pieces of a virtual economy.

]]> By: Matt McAllister http://www.insidesocialgames.com/2008/08/20/virtual-goods-in-social-networks/comment-page-1/#comment-453 Matt McAllister Thu, 21 Aug 2008 00:33:56 +0000 http://www.insidesocialgames.com/?p=466#comment-453 Good post Greg. We agree -- the market for virtual goods within social games is big and getting bigger. But real world money isn't the only way to pay for these virtual goods. Gamers can also take part in ad offers to earn the virtual currency they need to play the games or pay for upgrades, etc. That's one area where my company, Offerpal Media, really excels. Good post Greg. We agree — the market for virtual goods within social games is big and getting bigger. But real world money isn’t the only way to pay for these virtual goods. Gamers can also take part in ad offers to earn the virtual currency they need to play the games or pay for upgrades, etc. That’s one area where my company, Offerpal Media, really excels.

]]> By: Matt Mihaly http://www.insidesocialgames.com/2008/08/20/virtual-goods-in-social-networks/comment-page-1/#comment-452 Matt Mihaly Thu, 21 Aug 2008 00:22:03 +0000 http://www.insidesocialgames.com/?p=466#comment-452 Just a note Greg: WoW does not do virtual asset sales in Asia. There, one either pays a subscription (much less than the Western rate) or pays for time at a PC baang (internet cafe that exists for gamers). WoW gets its revenue, in the latter case, from the PC baang operator. It's also worth noting that the pay-for-virtual-stuff model originated in the West (I pioneered it) in 1997. It arose slightly later (but independently) in South Korea and swept Asia. --matt Just a note Greg: WoW does not do virtual asset sales in Asia. There, one either pays a subscription (much less than the Western rate) or pays for time at a PC baang (internet cafe that exists for gamers). WoW gets its revenue, in the latter case, from the PC baang operator.

It’s also worth noting that the pay-for-virtual-stuff model originated in the West (I pioneered it) in 1997. It arose slightly later (but independently) in South Korea and swept Asia.

–matt

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