Offerpal’s Chief Revenue Officer, Mihir Shah, recently sat down with Social Times to discuss Offerpal’s latest GamePoints.com initiatives, the drive for social games to extend beyond major social networks and how Offerpal serves over 1 billion virtual coins a day. Shah also revealed several key metrics about Offerpal’s reach and answered a few questions about how the social gaming and virtual currency industries may evolve. See the videos after the jump.
The video is in two parts, both embedded below, and it was taken at the recent Social Gaming Summit in San Francisco. Mihir discussses a number of key elements for understanding revenue in social games, so take notes if you’re new to the subject.
Here are a few of the key points from the interview.
- Offerpal has interacted with 225 million users across Facebook and other social media platforms
- Offerpal issues about 1 Billion virtual coins a day in 60 or 70 countries in about 50 languages
- Offerpal works across 2000 online game developers and 3000 iPhone/Android game developers
- The nature of social game revenue means that it’s in game companies’ best interest to find the cheapest way to acquire customers, and Facebook just got expensive when they turned off notifications
- Offerpal is interested in being the point of purchase experts for the Offer Wall product
- Offerpal has some interest in developing local-based deal systems that potentially harness the power of smartphones like the iPhone
- GamePoints.com is about simplifying the virtual currency game for all stakeholders including players, businesses and advertisers
- GamePoints is meant to coexist with all existing services and games and can help businesses ensure that purchased virtual currency is actually used to buy something.
- Companies earn their revenue on virtual currency when the currency is used to purchase a virtual good.