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Summary:

VCs have been pumping money into social-gaming companies like OMGPOP and Zynga because the startups have figured out how to do what the soci…

imageVCs have been pumping money into social-gaming companies like OMGPOP and Zynga because the startups have figured out how to do what the social networks themselves mostly haven’t: make money from users directly, not just through advertising. Players across Facebook, MySpace and other networks have been gobbling up millions of dollars worth of virtual goods, and while actual figures are hard to come by, attendees at the LA Games Conference did shed some light on how they enticed users to pay (and play).

  1. I think there was an entry in paidcontent.org that talked about how even in the midst an economic downturn, online social games still continue to earn money as opposed to the real retail goods (http://www.paidcontent.org/entry/419-second-lifes-virtual-economy-to-grow-by-28-percent/). And not just in relation to real retail goods, these online social games would probably do better financially compared to social networks that bank on only advertisers. Are there any statistics for this?

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