The Virtual Land Rush ~ What’s Big Deal?
Working on an appraisal for a recent company acquisition, we researched the value of “Virtual Assets”, in particular, “Virtual Land”.
Here’s what we found: “Fueled by the rise of metaverses or parallel worlds where people are spending more and more of their time and money. Blockchain-powered metaverses are becoming more of a thing” *Source
You might ask what is Virtual Land?
The answer might surprise you…
To help you understand, we offer the following article:
Genesis City is a plot of virtual land, roughly the size of Washington, D.C., that investors can buy slices of for obscene amounts of money. Even a simple 1,100 square foot plot can go for as much as $200,000, according to Bloomberg.
When buyers were offered a chance to exchange their own cryptocurrency for virtual “LAND”. The ICO raised a whopping $26 million in just 30 seconds from private investors, enthusiasts, and VR companies.
So, Virtual Land is a Thing..!
Time to get this figured, there’s a land rush online and everything “Virtual” is exploding.
Instantly, online experiences from games and museums, the shopping have exploded in popularity.
Expected to exceed $196 billion in revenue by 2022, now considered to be one of the fastest-growing industries on the planet.
Let’s look at just the headlines…
They read like a list of…
100 ways to say “Virtual Land” is HOT..!
Why Our Game and Virtual Land are Different?
Unlike other games, the specific focus for “Virtual Land” (ie; “Clickable Hotspot”) ownership in our games is the advertising income that can be earned from the subject hotspot.
We also go further with this concept by operating a dedicated “Ad Server” that manages the offer and sale of your advertising, on a “Do-it-yourself” (DIY) basis allowing advertisers to place and pay for advertising 24/7 hands-free for the “Virtual Land Owner”.
While “Virtual Land Owners” are able to at any time adjust their own prices for use of their “Hotspots”, the default setting is based on market rates and is set by the game managers when land is transferred.
How Land Owners, known as “Land Barons” make a return (ROI) which is the difference between what they paid, and what is sold or rented for less rental management fees.
Let’s Shake the Money Tree… How Land Barons Earn
As you can see, “Virtual Land” is a thing and with it, players referred to as “Land Barons” are making insane money.
Land Barons own some of the Hotspots that you see placed within the games.
These hotspots each function to open scripts that can perform many different types of action, from an instant prize to a clue, a video, image, etc.
Or it could be a simple “Shop Front” link so a window to shop on the merchant website opens (these have a set ICON so players/shoppers know them from other hotspots).
Options and Pricing | The In-Game Advertising Industry
The purpose of this section is to summarize the available advertising options for the ‘In-Game” advertising industry specifically. For more see: In-Game Advertising
Common forms of “In-Game Advertising:
Land Baron Options | Regular Income or a One-Time Resell Profit
Merchants Buy or Rent Hotspots to Place Advertising…
Daily “Visitor Traffic” created by the game will click these hotspots and when one is clicked it causes an action which an advertiser has paid for.
So perhaps the advertiser wants people to come to visit his website. In this case, the click can bring up a display that says to earn a reward or find a clue to a larger prize, click here, to be transported to a website where the player/shopper must next find a golden egg, etc.
To set this up, the advertiser will;
- Select the hotspot or group of hotspots they wish to use for advertising;
- Select an advertising package
- Pay for the advertising package;
- Paste in the URL or code they want to be displayed in the game;
- Receive the requested “CLICKS”;
- Receive precise analytics about the clicks.
Via this process, the money was collected, next, it is paid out to Land Baron(s) involved in the above purchase, less a small property management fee.
In this way, a “Land Baron” receives a “Hands-Free Income“, via our completely automated solution.
Why Does This Work? | Entertainment Rocks..!
Gamification | Multiverse Shopping Experience
Games employ a sort of “Game Challenge” and a “Shock n’ Awe” approach to marketing.
We attract people by a combination of;
- engagement (playing the game, the challenge),
- shock (wining is easy),
- awe (wining is frequent).
We employ a Treasure Hunting format, with treasures hidden across hundreds of Multiverse Worlds, and thousands of advertiser websites;
- 30-40% of all clicks made result in a WIN;
- Other CLICKS result in either a CLUE or is an obvious Store marker;
- In effect, players are winning many times every visit to the game;
This naturally leads to excitement shared with friends all encouraged to play and win the easy prizes.
“Gamification is all around us,” Danny Maco, former general manager of University Games, said to MobileCast Media. “Loyalty programs are a great example, which you can see everywhere, whether it’s at Safeway or flying on an airline; they all have game mechanics [such as] the progression bar — a mechanic associated with achievement.”
Player Interaction = Real Advertiser Benefits
This easy win play format keeps player-shoppers coming, and sharing the game, but there is more…
Example: The game can reward for sharing Merchants on social media;
Using our many gamification tools, we can drive thousands to any merchant for a variety of interactive results from Facebook likes, or subscribe to newsletters, etc. We help advertisers maximize campaign results.
Explore the benefits of gamification and how playful experiences can engage customers:
- 17 Gamification Gurus Share Their Favorite Examples & Insights
- 23 Interactive Virtual Reality Retailers
- 90+ Gamification Cases Studies with ROI Stats
- Airwalk Invisible Store can Only be Seen Through Smartphones
- Gamified Experiences | 8th May 2019
- Gamification Examples & Case Studies
- Gamification Examples: the fully comprehensive list (2021)
- Retail gamification = 30% – 40% increase in online interactions
- The engagement economy: How gamification is reshaping businesses
- Top 10 Marketing Gamification Cases You Won’t Forget
- Using Contests and Giveaways to Boost Website Traffic
Our Model Targets | Casual Achievers and Explorers
The nature of our gaming is predominately the ‘Casual Gamer”, and while we will likely enjoy a draw and subsequent traffic from both Hardcore and Medium care gamers, we will focus our primary attention on attracting the Casual Player” who is statistically our target market.
- The casual player is also typically a more affluent and educated player
While we currently do not offer multi-player games, we do have teams, leader boards, levels, and badges that promote player competition for points. We also maintain forums and chat between players.
In short, we offer functions that promote competition, comparison, and other features that will appeal to the Socializer-Player.
According to Dr. Richard Bartle, in the 1990s, there are four types of game players:
While this is a dated study, the basics remain static. But should be compared to the following classification of mobile gamers.
The four types of “Mobile Gamers” are classified as follows:
- 4 Types Of Gamers And Learner Engagement
- Bartle taxonomy of player types
- In-Game Advertising Pricing and Costs
- Mobile Gamer Demographics
- Who is the Modern Gamer?