Indian founded PlaySpan launches Virtual Goods Marketplace
By siliconindia   |   Monday, 20 July 2009, 17:21 IST
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Indian founded PlaySpan launches Virtual Goods Marketplace
Bangalore: PlaySpan has announced a new marketplace storefront for Facebook (coming soon to MySpace) which enables consumers to purchase online game items, virtual goods, and game currencies from many of today's popular online games and applications. "Our social network marketplace takes online game commerce experiences to the next level. We are bridging the gap between gaming on and off social networks through a common monetization platform," said Karl Mehta, Founder and CEO of PlaySpan. The consumers will now have the ability to participate in an universal virtual goods commerce marketplace that also enables them to buy, trade and sell goods within social networks and use the items in their online game environments. The application provides game developers and publishers a new social networking based distribution channel to engage consumers within the context of their social graph. "Providing our marketplace application to hundreds of millions of consumers on the social networks will significantly help them to conduct virtual goods transactions across multiple platforms, as well as engage their friends in the process through gifting, trading and sharing," said Mehta. PlaySpan, which recently acquired micro-transaction app developer Spare Change, has processed more than $50 million worth of micro-transactions through its PayByCash and Ultimate Game Card products. "Combining the PlaySpan marketplace with our existing monetization solutions within the social networks and online communities like Facebook and MySpace signals a giant step forward for publishers and developers who want to make virtual goods available to consumers wherever they are" said Lex Bayer, General Manager of Social Networks at PlaySpan and Co-Founder of SpareChange. By uploading their items into the PlaySpan market place, publishers can tap into a syndicated distribution model that places their items in store fronts that span gaming sites, online portals, and social networking sites. The startup was founded by a 12 year old, Arjun Mehta, but it is actually run by his father, Karl Mehta.

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