It Takes Currency to Make Money

by Dan Robles on 07/03/2010

iHasAMoneyIf you’re a Flash game developer, you are concerned with how you can make a living from your creative and intellectual services. Fortunately there is a payment system so workable, that it may actually work.   Game developers can charge money both for their games, and for things within their games.

Here’s how it works:

1.    Player pays real money to buy fake money within the game.
2.    Player spends fake money on virtual stuff.
3.    Virtual stuff increases the value of the game.

The game developer can technically charge for whatever they like: level packs, hats, extended versions/director’s cuts, etc, etc. The sky’s the limit.

These types of transactions have been very popular in places like Korea for a long time, and it was amusing to see the initial resistance and resentment in North America to the idea. Meanwhile, North American Pioneers of such systems are drowning in money.

The Right [virtual] Stuff:

Now, suppose that Social Media could be modeled after a huge game where people act based on a set of incentives like, say, connecting with friends, accumulating followers for their blog, finding proverbial “gold rings” like employment opportunities, business opportunity, spiritual growth, professional advice, cheap airfare, fun things to do, product reviews, or political activism…just to name a few.

Suppose that in order to get from one level of the game to the next, they need to engage in conversation with another player.  Anyone who has been on Linkedin, Twitter, or Facebook long enough knows that the “right virtual stuff” is sometimes hard to acquire.  Twitter finally broke the mold with applications that now “sell” followers (I wonder if there were any Flash Developers behind this innovation).

A Mutually Inclusive Game:

Now, suppose the game was mutual such that some players need you a little bit more than you need them and they are willing to invest in your connection.  Similarly, suppose you need some players a little more than they need you and you too are willing to invest for their connection.  Finally, all players know that a mutual link between two appropriate players substantially increases the value of both players relative to the game.

It Takes Currency to Make Currency.

Immediately the engine of entrepreneurialism will ignite as people figure out new ways to play the game.  With a trillion dollar advertising industry, a trillion dollar Professional Placement industry, and a trillion dollar recreation/leisure/entertainment/family industry on the ropes, you can guarantee that innovation will be absolutely intense.  Welcome to the Innovation Economy.

{ 22 comments }

Alex Hall July 6, 2010 at 3:55 am

This is good: It Takes Currency to Make Money – http://www.relationship-economy.com/?p=10910 #socialmedia

Alex Hall July 6, 2010 at 2:05 am

Nice – It Takes Currency to Make Money – http://www.relationship-economy.com/?p=10910

Lee Johnson ??? July 5, 2010 at 10:12 am

It Takes Currency to Make Money – http://www.relationship-economy.com/?p=10910

Holt Communications July 4, 2010 at 5:28 am

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Holt Communications July 4, 2010 at 5:28 am

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andrew washington July 3, 2010 at 11:49 pm

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ingenesist July 3, 2010 at 1:35 pm

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Allen Howell July 3, 2010 at 1:06 pm

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smconnection July 3, 2010 at 11:29 am

It Takes Currency to Make Money: If you’re a Flash game developer, you are concerned with how you can make a livin… http://bit.ly/aIvwWc

Joe Grasso July 3, 2010 at 11:29 am

It Takes Currency to Make Money: If you’re a Flash game developer, you are concerned with how you can m… http://bit.ly/c23b6v [email protected]

Dan July 3, 2010 at 10:42 am

@Paul; Excellent comment – this is the type of response that I was hoping for. As I wrote the article, I dropped the term “Money” from the discussion and used words that sound like money but do not necessarily have to be a cash dollars. You are correct – cash kills but “currency” does not have to….

AllThingsM July 3, 2010 at 10:20 am

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Social Media Insider July 3, 2010 at 10:02 am

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JobShoots July 3, 2010 at 10:02 am

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JobShoots July 3, 2010 at 10:02 am

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Alltop July 3, 2010 at 10:02 am

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StarGazon July 3, 2010 at 10:01 am

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Angela Suddarth July 3, 2010 at 9:45 am

[email protected] It Takes Currency to Make Money:
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The Social CEO July 3, 2010 at 9:45 am

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JDeragon July 3, 2010 at 9:43 am

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Paul Tech July 3, 2010 at 9:39 am

As people have an inherent interest in seeking out mutually beneficial relationships, there is room to monetize such relationship on social networks.

But when money comes into the picture, things get a bit murky and friendships are degraded. The day Twitter or Facebook “sell” its members may cause a huge uproar.

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