myYearbook Recruits Meez Into Virtual Currency Exchange Service

Social entertainment world Meez has been quite active lately on the business development front. Following a string of their announcements is a new partnership with the popular social network myYearbook. This partnership will add Meez to myYearbook’s Currency Connect virtual currency exchange, a service that lets members from different virtual economies exchange virtual currency. More after the jump.

We recently covered Meez’s partnership with VZNet – in which Meez will be responsible for bringing highly immersive social entertainment into VZNet’s community of roughly 17 million members. myYearbook reportedly has even more users – over 20 million members worldwide and is one of the 25 most trafficked sites in the United States as measured by page views, minutes and time on site. This partnership should be an even more lucrative one for Meez. myYearbook also struck a deal recently with OMGPOP in which OMGPOP will bring games to myYearbook, a deal similar to the one IMVU struck that we covered yesterday.

“The success of Currency Connect relies on the success of our partners,” said Geoff Cook, CEO of myYearbook. “All Currency Connect partners have experienced a direct increase in registrations through this platform as well as benefitting their members with a new way to use virtual currency, proving Currency Connect is beneficial for social networks in more ways than one. We are confident that Meez, and additional future partners, will share in these successes as well.”

Currency Connect is an initiative that was launched in 2009 with the purpose of allowing social media companies to link their virtual economies and is currently serving 12 million monthly unique visitors across its participating communities. The system works similar to a real-world currency exchange where an exchange rate is established between partner sites. In a sense this eliminates the middle man (or a universal currency) like Facebook Credits which aims to dominate the space as the currency of choice, atleast on Facebook’s platform which is still the most attractive platform for social gaming companies. With Currency Connect, users will have more opportunities to buy and earn currency and we should see a lot of intermingling as Meez members will soon be allowed to trade Meez Coinz Cards for myYearbook Lunch Money and vice versa. It’s unknown at this point what the exchange system will look like and how dynamic it will be – but it should be quite interesting.

“Virtual currency is an important factor for monetization on Meez, and gives our users the ability to purchase the virtual goods they want. myYearbook’s Currency Connect will give our users even more options with their virtual currency balances, and will give MyYearbook users direct entry into the Meez experience,” said John Cahill, CEO, Meez. “We are constantly on the lookout for new and exciting things to offer the members of Meez Nation.”

It will be interesting to see who Meez partners up with next. I could see Meez linking up with a company like Viximo who has relations with many long tail social networks like Que Pasa and bringing its technology and cross-entertainment platform to them. Social networks like Hi5 already have such a system established but apparently aren’t pursuing a strategy like Meez.

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