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11 in-game currencies you need to know about
Digital goods and in-app currencies: With this model, emerging social platforms can monetize without relying on creators or exclusive content. While digital goods and in-app currencies are still comparatively rare in the US, they’re becoming increasingly popular in games.
Anne Lee Skates • Six Ways New Social Companies Will Monetize | Andreessen Horowitz
The vast majority of your users will be free. You can kinda monetize them with ads, but you are really only going to see a buck or two of revenue per month per user. The real money is found in the in-game digital purchases. These are the skins on Fortnite characters, an extra life in Candy crush, etc.
Evan Armstrong • How Free to Play Video Games are Forced to Make Addicts
For the foreseeable future, the most successful community currencies will come from games. What makes a virtual currency sustainable? The willingness of payers to convert and retain. Who has figured this out better than anyone? The free-to-play gaming industry, with annual microtransaction revenue of nearly $100b. What drives the willingness of gam... See more
Richard Kim • Warm Crypto
virtual goods or virtual currencies
Yu-kai Chou • Actionable Gamification: Beyond Points, Badges, and Leaderboards
virtual goods or virtual currencies
Yu-kai Chou • Actionable Gamification: Beyond Points, Badges, and Leaderboards
Currency is for spending: Once customers are engaged with your system, giving them spendable currency is a powerful way to drive investment. This tactic is most effective if it’s layered onto other skill-building systems, instead of being used in isolation. Duolingo, for example, awards “lingots” for completing activities, which you can spend on cu
... See moreAmy Jo Kim • Game Thinking: Innovate smarter & drive deep engagement with design techniques from hit games
In the history of money that now spans tens of thousands of years, there have been maybe five major changes. From pure barter exchange to the introduction of the first abstraction of value—shells, feathers, beads, nuts, stones. Then precious metals, and then paper money, and then plastic money. And now network money.
Andreas M. Antonopoulos • The Internet of Money Volume Two
By any measure, conventional or otherwise, the volume of microtransactions shows that the significance gamers attach to their virtual items and achievements can be a real source of economic value.