The Future of Virtual Currency

Happy New Year from everyone at Peanut Labs! Hope your NYE celebration was a memorable one!

So as 2009 came to an end I found an article, written by Maggie Shiels, talking about the US virtual economy and I thought it would be a good article to read and put us in a positive mood to start 2010.

A few years ago I never would have imagined how big virtual currency would get. But after reading the article, it’s amazing how the concept has evolved. These days it’s tough to find any social media application that doesn’t offer either it’s own virtual currency or marketplace. The virtual currency concept is growing rapidly with hundreds (possibly thousands) of companies beginning to adopt it. This trend is growing especially evident in gaming. There are so many games on Facebook that is being played by millions of people. And within those millions, a portion of them are spending money to purchase virtual goods, whether it’s a new giraffe for their zoo, a waiter for their restaurant, or a new fish for their aquarium.

As I mentioned in an earlier post, gaming on Facebook has grown to practically a worldwide phenomenon, attracting millions of player’s everyday. Just to prove a point, the article points out that out of the top 15 Facebook applications, 10 of them are games.

I agree with the article on that the virtual goods industry can reach the billions in the next couple of years. The concept is simple, the games that utilize that concept are very mass market oriented and everyday more and more people are signing on to Facebook.

What do you think? Let us know on the blog, Twitter or our Facebook page!

Link to the article: http://news.bbc.co.uk/2/hi/technology/8425623.stm

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: