New online gaming reward currency starts well
The virtual currency provider Offerpal Media reports that its new web-based online gaming rewards system, Game Points, has signed up more than 500,000 users since its pre-launch one month ago.
The gaming rewards currency service has been live since 4th May 2010, allowing consumers to earn virtual currency to use in their favorite social games and MMOs (massively multiplayer online games) by interacting with various targeted advertising offers and other marketing campaigns.
"The early success of GamePoints.com suggests strong demand and enthusiasm among social gamers for earning virtual currency through alternative payment options, as well as their willingness to do so outside of the gaming environment," said George Garrick, chairman and CEO for Offerpal Media. "There is real spending power being earned by GamePoints.com members, which translates into a new and sustainable customer acquisition channel for our developer partners."
So far, the programme's most popular methods for earning virtual currency (most popular listed first) have been: watching videos, completing surveys, earning shopping rewards, taking part in advertising offers, downloading music, and subscribing to magazines.
Other popular ways of earning free Game Points include trading in unwanted gift cards, purchasing movie tickets, and recycling old electronic devices, among others.
"GamePoints.com represents a new way for consumers to earn and redeem virtual currency," noted Sumit Gupta of BitRhymes, developer of social games including Tag Me and Wild Paradise. "It gives players a variety of ways to earn credit other than the current in-game transactional model, as well as a seamless process for redeeming those credits for our own game currency. This allows our users to engage more deeply in our games by giving them a way to earn credits without interrupting game play."
While the GamePoints.com wen site is actually till in 'beta test mode', the site's virtual currency can be redeemed through approximately 100 applications on Facebook, including 8 of the top 10 games (as ranked by AppData). But soon users will be able to spend their Game Points within hundreds of other social games, virtual worlds, and MMOs on the wider internet.
Offerpal says that it will be integrating new alternative payment options into the web site in the near future.