Cash
TR: The slow death of cash. Wolman argues that cash costs society far more than we think it does; http://j.mp/HejgPp #Cash
Tagged: Virtual Money Toggle Comment Threads | Keyboard Shortcuts
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Gerrit Eicker
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Gerrit Eicker
Virtual Currency
TC: Virtual currency is the next big platform; http://j.mp/zHfeIM #VirtualCurrency http://eicker.at/VirtualCurrency
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Gerrit Eicker
Facebook Credits for Websites
Facebook Credits expand further: outreach to every website, going beyond Facebook Apps; http://eicker.at/FacebookCreditsWeb
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Gerrit Eicker
Bitcoin
P2P virtual currency: Bitcoin transactions offer direct payments, cut out banks, any other middle man; http://eicker.at/Bitcoin
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Gerrit Eicker
Second Life Marketplace
Korman, Tinfoil Hat Theory: How are Bunnies, Vampires and the SL Marketplace connected to one another? http://eicker.at/LL3
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Gerrit Eicker
Linden Lab
Korman: A tinfoil hat theory about Linden Lab, makers of Second Life. Part 1; http://eicker.at/LL Part 2; http://eicker.at/LL2
Gerrit Eicker
Facebook Credits Expansion
Facebook is expanding Facebook Credits to more developers, adds new payment options; http://eicker.at/FacebookCredits
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Gerrit Eicker
Facebook: “Our goal with Facebook Credits is to give people that use Facebook an easy, convenient and trusted way to buy premium items in games and applications, while creating unique opportunities for developers to build successful, sustainable businesses. … We’ve seen a great demand for Facebook Credits since we started testing in May 2009 and expanded the beta in February this year. Facebook Credits are now used in more than 200 games and applications on Facebook from more than 75 developers. … We’ve been listening and working closely with developers to build out Facebook Credits. In addition to offering payments in 15 currencies, we’re introducing new ways to earn and pay for Credits, such as MOL points in Asia and gift cards through Target in the U.S.”
VB: “Facebook has teamed up with social monetization firm PlaySpan to expand its reach to more users around the globe for its Facebook Credits virtual currency. … Now, beyond using credit cards, users will be able to choose from 20 new payment options via PlaySpan’s Ultimate Pay service, allowing for more international purchases. Since credit cards aren’t used in every country, PlaySpan offers more payment options that are used in certain regions. That expands the reach of Facebook games – and the ability to make money from them through credits purchases – to a wider audience. – The PlaySpan payment options will roll out in the coming months, supplementing current payment systems such as credit cards, mobile phone payment services, and PayPal. Through Ultimate Pay, some of the new options include prepaid cards such as PaySafeCard, Wallie-card in Europe, MyCard and Gash cards in Taiwan, and other regional payment services.”
IF: “Deb Liu, a product marketing manager for Facebook Credits, said that a universal currency will encourage users to spend more on digital goods because they won’t have to switch between different currencies offered by separate games. – ‘Users don’t want to go in one game and question buying currency because they have to think about it for the next one,’ she said at the Virtual Goods Summit in San Francisco. ‘That’s a tax on our ecosystem, in terms of the mental energy needed to make a purchase.‘”
AF: “The additional payment options make it easier for developers to expand their international reach and attract a broader set of people, since not everyone has access to credit or debit cards or PayPal. Developers using Facebook Credits won’t have to do anything to offer these new payment options – they’ll appear automatically based on the user’s location. – Facebook did not say whether the upgrade meant Credits are now out of Beta development, but it’s clear that this is an area of focus for the company. Facebook gets a 30% share of the revenue from Credits and with the explosive popularity of social games on the site, it’s an attractive and growing new source of revenue. Facebook has reportedly been exerting pressure on game developers to switch to Credits and recently the biggest player in the sector, Zynga, agreed to do so.”
GigaOM: “The big selling point of the program is that users now have one consistent and unified place to buy virtual currency for almost all social games, which means many of them will have Credits on hand next time a game asks them to pay for something. Liu said developers across the board are seeing 5 to 10 times the number of conversion rates for players who have already bought and stored credits. She said more than half of today’s Facebook game experiences now include Facebook Credits as an option.”
Gerrit Eicker
Virtual Goods
Inside Virtual Goods: U.S. virtual goods market to hit $2.1 billion in 2011; http://j.mp/b0YtUe
Gerrit Eicker
Big Business in Virtualised Real Life
Keegan: Is real life heading to virtual worlds like Second Life, Blue Mars, Entropia? http://j.mp/cFGmvH (via @malburns)
Gerrit Eicker
Business: OpenSim vs. Second Life
Korolov: OpenSim business roadmap, the past, present and future; http://j.mp/balwKd (via @kohdspace)
Facebook: “Facebook Credits for websites – We have begun working with a few developers to test the ability to offer Facebook Credits on websites, with the goal of helping them offer a more unified app experience to users beyond apps on Facebook. One early example is Collapse! Blast on Gamehouse.com. – At this time, we are focused on gathering early developer feedback. We will keep you posted as our tests continue. If you are interested in Facebook Credits for websites should we broaden the test, please sign up here.”
GigaOM: “Facebook isn’t a true PayPal competitor, but it’s taking some steps toward becoming an online payments provider outside of its Facebook properties. The social networking giant has begun testing the use of Facebook Credits on two games, Uno Boost and Collapse! Blast, both available on gaming portal GameHouse. … This could be a big springboard for Facebook to become a major payments player if it aggressively takes its Facebook Credits to other properties on the web. … I wouldn’t be surprised if Facebook is eyeing this market. Mobile payments is booming now and expected to become a $670 billion market by 2015. But it starts with small tests like the one with GameHouse. … Hulett said he believes though its early Facebook Credits could be a big driver of revenue for Facebook, similar to how PayPal has become the main engine of growth for eBay. That will still be ways off, but if Facebook plays its cards right and learns important lessons along the way, it might not be a stretch.”
IF: “Facebook’s virtual currency is currently the mandatory payment method for all Facebook games on the web, a payment option for Facebook apps, and became available as a payment option to mobile app developers last week. … If the test does indicate a demand for Credits as a payment option outside of Facebook.com, its unclear whether Facebook would require developers to use its virtual currency exclusively. It could simply make them an additional payment option, the way Credits currently work for Facebook.com apps as well as mobile apps and games. … More users maintaining a balance of Credits also makes Facebook a more lucrative platform for developers. … Facebook Credits for Websites could become a significant revenue source and powerful way to attract developers.”
ATD: “Facebook is now allowing its virtual currency to be used off of its social network, a feature that some game companies are finding valuable as they seek new ways to monetize their own sites. … GameHouse is one of the first to try using Credits off of the network, but there will likely be others following. – Earlier this month, Zynga announced Project Z, its own gaming platform, which will provide a seamless game experience between Facebook and its own Web site. Despite creating a separate game network, as we wrote at the time of the announcement, Facebook’s influence will be everywhere.”
ZDNet: “Facebook takes a 30 percent cut of all revenue earned through Facebook Credits, leaving developers with the remaining 70 percent. It’s not clear how much revenue the company makes from the virtual currency, but it appears to be a growing percentage of its overall revenue. It could be massive if Facebook Credits for websites takes off.“