Social media agency AdParlor has expanded its virtual currency monetization platform, making this feature available on all the major social networking sites. Already having this option presented to developers using Facebook’s Platform, AdParlor has now extended the option to developers that would like to create applications with virtual currency on MySpace, Bebo and the others.
What the virtual currency option provides is a revenue-generating feature that benefits developers and AdParlor. As users interact with the given application, they earn virtual currency points which can usually be redeemed for rewards after a certain number of points have been earned.
What the actual interaction with the application offers developers, however, is a CPA-based revenue stream that earns them cash. The incentivization process used here is rather typical for many companies and can be built upon for more specific purposes within the integrated application market.
In creating a simplified solution for developers that would like to add virtual currency capabilities to their apps, the process for doing so becomes shortened for developers that are readily looking to make some money through the applications they’ve created. Extending the option across multiple social networks is useful for those developers that have created versions of their apps for more than one social networking platform, as it further enables a seamless experience.
We’re also seeing the social networks themselves delve into similar virtual incentivization programs direct to users, especially as they look to further engage their members and create additional revenue streams. Perhaps working with services like AdParlor will enable social networks to extend these virtual currency options directly to the developers working on their respective platforms, working out a revenue-sharing model that works for the social networks, the third party services and the developers all the same.
Disclosure: AdParlor is a sponsor of this site.