| Virtual currency has emerged as the lifeblood of | | | | operations and the security. His vision was to |
| online games, social networks, and virtual | | | | create an interface that satisfied the extensive |
| communities. In order to subsidize development | | | | needs of advertisers and site owners, but more |
| and recurring operating costs, currency demand | | | | importantly, provided a game-like feel for users. |
| needed to be created to ensure the financial | | | | The importance of providing a visually appealing |
| stability and longevity of the projects. Web | | | | connection point for users to interact with |
| properties needed a value system that was both | | | | advertiser offers was seen as a key |
| stable and flexible. It needed to cater to people of | | | | differentiator and a way to dramatically increase |
| all income levels. Selling "credits" in a marketplace | | | | user participation and the quality of information |
| for limited virtual goods emerged as the most | | | | provided to advertisers. |
| viable solution to this necessity. By providing | | | | "It is paramount that companies like ours remain |
| numerous methods of attainment, players could | | | | focused on the user experience, particularly as it |
| choose how they spent their personal resources | | | | pertains to online virtual worlds. Massively |
| (time and money) in their pursuit of the | | | | Multiplayer Online Role Playing Games are |
| accumulation of credits. | | | | immersive and to that end, Blvd Media intends to |
| This emerging advertising model shifted the cost | | | | complement, not confuse, the virtual landscape." |
| of credits from players to advertisers without | | | | says King, whose company has seen double-digit |
| compromising the virtual economy. The money | | | | growth every month since the launch of the |
| flowed from the advertiser through to the site | | | | rewardTool in May, 2009. "I believe that we will |
| owner, while the virtual credits flowed from the | | | | see free-to-play marketplaces grow exponentially |
| site owner to the player. This complex transaction | | | | -- especially in today's economic climate. Inasmuch |
| needed additional technological components in | | | | as the Internet strives to shrink the world, the |
| order to automate the transactions, create a | | | | reality is that a global marketplace has to prepare |
| critical mass, and increase the likelihood of return | | | | for, and ultimately behave as though, the Internet |
| player participation. The transaction also needed | | | | is a very big place. Regrettably, there are nuances |
| multiple layers of security and fraud prevention in | | | | to being a global technology company, and |
| order to protect the integrity of the information | | | | sometimes those nuances get lost. This is where |
| and credit exchange. | | | | Blvd Media lives; it is our belief that there is no |
| The demand for a transaction clearing house | | | | "owning" the space, but rather we must develop |
| created an opportunity in the marketplace for | | | | the space... relentlessly." |
| technologically advanced advertising networks that | | | | Virtual currency has proven to be a universal |
| could innovate around the needs of the site | | | | incentive to consumers in all countries. Advertisers |
| owners, advertisers, and users. While having one | | | | have embraced this model by spending over six |
| player, in one country, participating in one | | | | billion dollars a year on the acquisition of user data. |
| advertiser offer, and being rewarded one credit, is | | | | As new and more advanced games, social |
| the simplest form of the transaction, complexity | | | | networks, and virtual worlds are developed, this |
| emerges when thousands of players from every | | | | spending trend is expected to remain steady. |
| country are interacting with hundreds of offers at | | | | Users continue to earn credits and enjoy the |
| the same time. This complexity grows further | | | | premium site experience at the expense of |
| when the player demand for daily new offers is | | | | advertisers. This model subsidizes user spending |
| high. The technological intricacy to not only | | | | and justifies the development of more advanced |
| facilitate multiple simultaneous transactions, but | | | | web properties. |
| also add additional components such as complex | | | | Ironically, the companies that will ultimately endure |
| security layers, geographical user targeting, | | | | will develop relationships with advertisers, |
| advanced reporting features, interface | | | | aggregators, and networks around the globe |
| customization, and real-time monitoring created a | | | | looking for the particular information each locality |
| new industry dedicated to ensuring the long-term | | | | has to offer. In a way, this will end up being a |
| success of this emerging monetization | | | | viral movement, not sparked by the advertiser - |
| methodology. | | | | but rather by the player, or digital persona, or |
| Martin King, CIO and Chief Scientist of Blvd Media | | | | perhaps even the trends, in an entirely alternate, |
| Group was the architect of the next generation, | | | | digital universe. After all, where there is a demand, |
| virtual currency monetization system called the | | | | supply will be identified and commerce will be |
| rewardTool. He recognized that the user | | | | created. |
| experience was as important as the transactional | | | | |