Evolution is Coming
13th July 2007
On July 15, 2007, Virtual Worlds Direct, a UK-based company, is about to launch a revolutionary product, Codenamed Project E-Play, in the multi-billion dollar online gaming and entertainment segment–one of the largest and fastest growing markets on the Internet.The buzz is already building simply by word-of-mouth / viral marketing. Remember the early days of free email from Hotmail.com? Well, that company experienced explosive growth and was eventually acquired by Microsoft.
Project E-Play is a combination of online skills-based games, social networking using Web 2.0, and referral / affiliate marketing dubbed “Social Marketing 2.0″.
Let’s break this down and look at each component. We’ll first start with the online gaming and entertainment industry. Even though this market is large and growing, timing could not be better. More and more people are spending their leisure time in “cyberspace”. In addition, broadband is reaching more and more homes.
Even in less developed countries where the PC is a luxury, Internet cafes are commonplace and visited often as a place of social gathering. In fact, these Internet cafes derive an estimated 30-40% of their revenue from people playing games online.
Next, let’s take a look at social networking and Web 2.0. Just a few years ago, most people had not heard of Facebook, MySpace, YouTube, Digg and other emerging Web 2.0 services. Now, these services are so common that even Fortune 500 companies are taking an interest. Google acquired YouTube and News Corp acquired MySpace, making the founders of both extremely rich!
Finally, Social Marketing 2.0 is about having fun playing games, meeting new friends, and receiving compensation without having to sell. This new model will enable anyone to create an income stream purely by challenging friends and contacts to games.
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