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BizReport : Ecommerce archives : February 25, 2010

gWallet launches Brand Bar platform

There's a new player, or at least a new platform, in the world of virtual currency solutions. This week gWallet, a social monetization firm, released its new Brand Bar offering. The Brand Bar is placed at the top of gaming screens on all gaming pages to display offers and video clips. Consumers participate by clicking onto the videos or taking advantage of the offers, earning virtual cash to use within the game.

by Kristina Knight

Placing the Brand Bar front-and-center of the gaming platform keeps the name in consumers' minds as they play and navigate around the social gaming hub. It also allows consumers to click onto ads or offers from the game screen, deepening the level of engagement with the social system. According to gWallet only about 4% of social gamers currently will 'pause or leave the game' to take advantage of offers. By allowing consumers to access offers from the game, there is the potential for more gamers to take part in the offers.

"While virtual currency is clearly a thriving industry, we still think there are ways that the process can be improved," said Gurbaksh Chahal, CEO and founder of gWallet. "Rather than force users to seek out offers and hunt and peck for the right one, we are bringing the offers to them. This not only streamlines the process for consumers, but also improves ad performance and publisher monetization, leaving a positive end result for everyone involved."

Does social gaming have the potential to be a cash cow? A recent Q Interactive and Social Media World Forum survey found that women especially are getting into social gaming. Currently social games bring in about $720 million, but by year's end researchers expect that number to jump to about $1 billion.

Other interesting findings include:

• 85% of women play fewer than 5 games but play regularly, indicating a sense of loyalty to their favorite games
• 57% earn and spend virtual currency each day
• 95% use virtual currency to gift friends or to advance within game play
• 97% don't want to spend cash, they want to earn virtual currency to use within the game

Tags: gWallet, online gaming, Q Interactive, social gaming, social media, women and games

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