In Brief: Virtual Goods Updates from hi5 and OutSpark

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In addition to the launch of Facebook Connect for iPhone this past weekend at SXSW in Austin, social network hi5 and online MMORPG operator Outspark made interesting announcements during a panel discussion on virtual goods.

During the panel, hi5’s Andrew Sheppard announced that the company was opening a new API around its hi5 Coins virtual currency which launched late last year. Now, any hi5 app developer can employ hi5 Coins in their apps – neither Facebook nor MySpace have implemented this kind of shared “universal currency.”

OutSparkAlso during the panel, OutSpark’s Susan Choe announced that OutSpark had achieved a $50 average revenue per user (ARPU) “monthly through virtual goods sales.” Some people thought she misspoke, according to Virtual Goods News, with most assuming she meant “average revenue per paying user” (ARPPU). Even if that is the case, $50 is an impressive figure.

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11 Responses to “In Brief: Virtual Goods Updates from hi5 and OutSpark”

  1. Andrew Sheppard says:

    w00t!

  2. Matt Mihaly says:

    There’s no doubt Susan mis-spoke. She meant ARPPU not ARPU. Those numbers are not that unusual for highly engaging online games. Some online games (like Magic Online) achieve 50%+ higher ARPPUs than that.

    –matt

  3. Facebook Considering Virtual Currency System? says:

    [...] both Facebook’s own virtual gifts store or in third party applications. Hi5 announced a similar universal virtual currency program two weeks ago for developers on the hi5 [...]

  4. Facebook Unlikely to Launch Universal Virtual Currency Anytime Soon says:

    [...] hi5, which launched a new API around its hi5 Coins virtual currency a few weeks ago at SXSW, Facebook is operating with much longer time horizons. We think it’s [...]

  5. Roundup: hi5 Restructures Around Games Portal Model, Strikes Payment Partnership with Paymo says:

    [...] was just last month that hi5 announced that it had created a universal virtual currency, hi5 Coins, for its application platform. Any developer can integrate hi5 Coints into their applications. [...]

  6. hi5 Partners with PlaySpan to Expand Virtual Currency Payment Options says:

    [...] the new integration, users will now be granted yet another means to acquire the network’s brand new hi5 Coins. Users can then purchase both premium virtual goods and services with the hi5 virtual [...]

  7. Bill Gossman Joins hi5 as New CEO says:

    [...] is estimating around $25 million in revenue for 2009. This doesn’t seem out of the question. The introduction of Hi5 Coins, the opening of payment options with PlaySpan, mobile payments with Paymo, the increased repertoire [...]

  8. Confirmed: Facebook to Launch Virtual Currency Test in Platform Applications Soon says:

    [...] in 2009, numbers corroborated by other reports. Global social network Hi5 launched a similar universal virtual currency program in March for developers on the hi5 [...]

  9. Confirmado: Facebook ensayará su nueva moneda virtual con aplicaciones de terceros says:

    [...] plataforma de entretenimiento social, más que una red social), también había lanzado su propio sistema de moneda universal para [...]

  10. Confirmado: Facebook ensayará su nueva moneda virtual con aplicaciones de terceros | Facebook en español says:

    [...] plataforma de entretenimiento social, más que una red social), también había lanzado su propio sistema de moneda universal para [...]

  11. Facebook Credits Can Now Be Bought in 14 Foreign Currencies says:

    [...] with the success of universal currencies from competitors such as hi5, Facebook also been thinking about ways of internationalizing its virtual currency service [...]

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