Virtual Goods: Even Better Than the Real Thing?
TechCrunch addresses the growing role that virtual goods play in virtual reality.
As the post states: “Because virtual goods feel more real in virtual reality, they benefit from a higher perceived value. This is not only great news for consumers, who get to “experience” a more valuable set of new digital products and services, but also for developers, who benefit from nearly nonexistent marginal costs of production.”
“Augmented reality also presents its own set of opportunities. As display technologies advance to the point where virtual goods start to feel more tangible, we’ll not only see an increase in their value, but also their utility. Why buy a real 120” plasma screen when you can have a virtual one generated by your upgraded eyewear for much less? Especially when that virtual screen eliminates the need for installation and even follows you around the house so you don’t miss a minute of your favorite shows.”
And according to Yibada, virtual goods can bring real revenue.
In a post titled “Tencent Makes Tons of Money Selling Virtual Goods from Video Games.”
The piece states: “Having WeChat helps build Tencent’s vast marketing resource which it uses to sell the Supercell and Riot virtual merchandise. Backchannel compares Tencent’s virtual goods to Disney’s characters, developed from its movies, which the U.S.-based studio used to sell millions worth of physical merchandise, music, games, spin-off TV programs and tickets to theme parks, including one that opened in Shanghai in mid-2016.”
Luxury Daily explains what this can mean for app developers and publishers.
In a piece titled “https://www.luxurydaily.com/rewarded-video-monetization-beyond-gaming-apps/,” they report: “App developers that are serious about generating revenue should consider the worst kept secret in mobile gaming monetization: rewarded video. This ad format could have huge implications for non-gaming apps.”
“With rewarded video, developers earn a steady revenue stream by giving users content, points or other virtual goods in exchange for watching video ads. And 52 percent of mobile game developers identify video ads as providing the highest revenue per user compared to any other type of in-game advertising.”