The virtual goods market continues to grow. A recent Forbes article highlights some of what is happening. The article highlights some powerful facts including:
- Traditional game companies EA and THQ both have signed agreements with Live Gamer -
a leader in handling micro-transactions for monetizing interactive and digital entertainment - to handle virtual goods transactions and provide virtual currencies. Click here for a copy of the EA Press Release and here for a copy of the THQ Press Release. - The worldwide virtual goods market is expected to top 7 billion - but others have estimated the market to likely exceed $10 billion
- Zynga alone is projected to rake in around $600 million in revenue this year, largely from the
sale of virtual goods. - Online game network Xbox Live has generated an estimated $625 million in virtual items sales, surpassing its subscription revenues.
- Sony's sales of virtual goods for the PlayStation tripled in the first quarter.
- The article concludes with a forward-looking quote that points to the emergence of cross-platform or cross-game virtual currencies.
10 FAQs for the virtual world's layman
Overview of Legal Issues with Virtual Currencies
Virtual Worlds & Video Games Team