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gWallet, an offer startup in social media, is launching an extension to its platform that it believes will improve monetization in social games.
The company’s new Brand Bar is a way to stick monetization offers right in front of the user’s face in a social game. The bar appears at the top of a game screen on all pages and displays. It offers users the chance to earn virtual currency which they can spend in a game. To get the currency, they have to watch a video ad by clicking on the Brand Bar, or they could make some kind of direct payment if they wish.
Normally, the user has to go through a bunch of steps before they see some kind of special offer page. That means a large number of users play social games for free and never bother with paying for something. San Francisco-based gWallet believes the Brand Bar will help game publishers monetize a larger portion of their users. It also creates an experience that benefits publishers, brands and consumers alike.
Right now, gWallet estimates that only 2 percent to 4 percent of users ever pay for something in a free-to-play social game. With the Brand Bar, every user is exposed to offers. Brands can display their logos, ads, offers, or videos in the Brand Bar itself. They can thus get more exposure.
“While virtual currency is clearly a thriving industry, we still think there are ways that the process can be improved,” said Gurbaksh Chahal, chief executive and founder of gWallet, in a statement. “Rather than force users to seek out offers and hunt and peck for the right one, we are bringing the offers to them.”
The bar is already being used in a dozen online games, including those developed by Clipwire Games, Zen Gaming Inc., Poolhouse, FooMojo, Bubblefish, Mobscience, and Chat Republic Games. Poolhouse says that the bar has helped double daily revenue.
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