Posts Tagged Twofish

Boom Watch

While the summer olympics may put a spotlight on virtual goods because of China’s huge ambitions, signs of the coming boom are popping up everywhere. The most significant recent news concerns a virtual currency engine called Twofish Elements:

… users are looking for interactive experiences online that are too costly to be paid for by ads alone, so micro-transactions are the logical next step.

… That’s where Twofish Elements comes in, with an offer to help game companies optimize these transactions.

Its software is a plug-and-play platform, and is a sort of combination of web analytics and Paypal for games. Twofish watches what players do and helps create transaction steps to optimize revenue. It handles the micro-payments (even those from players overseas) and protects against the risk of fraud and chargebacks.

VentureBeat: TwoFish Elements launches for micro-transaction economies on the web and someday the web?

Twofish Elements, billed as a “turnkey solution” for companies with online worlds and game networks that want someone to handle in-game currency, micro-transactions and other features that comprise a virtual economy.

GigaOM: Virtual World Economy in a Box

It will be interesting to see how open this is and whether Linden Lab will enter this space any time soon. Technology News has a high level overview of virtual currency systems and I’ve rounded up some notable quotes dealing with virtual goods:

the business of selling virtual items that enable internet users to express themselves is booming. Over $2bn is spent on virtual items every year and I don’t think this is a trend to bet against. Disney certainly didn’t with its purchase of Club Penguin, which could be worth up to $700m.

And it was announced yesterday that Paramount has inked a deal with Habbo Hotel to create merchandise for one of Paramount’s upcoming movies.


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