GigaOM: Zeevex Launches Cross-Game Virtual Currency
Zeevex is a new startup that sells retail debit cards in brick-and-mortar stores, which can be redeemed online as Zeev Tokens. These, in turn, can be used to buy virtual currency and other items in a number of online games and virtual worlds (partners to be announced.) There are many other retail game cards like this, but the fairly unique feature is that you can exchange these tokens with other Zeevex users. This is specifically intended to enable barter not just of virtual items, but real world goods. The founders expect this will mainly trade of collectible items, such as sports cards, toys, and so on. It's easy to imagine, if this becomes popular enough, that it'll evolve into a broader micropayment system for goods and services that aren't game-related at all. My main curiosity now is who Zeevex is partnering with. When I recently asked Linden executives if they planned to partner with game cards so people could purchase Linden Dollars via retail debit cards, they suggested it was a desirable option, but further down the road.
Can we use this as a tool to overthrow the antiquated international financial system and usher in a new era of person-to-person exchange without the fat middlemen skimming the cream? Can we? Please?
Posted by: Arcadia Codesmith | Wednesday, May 13, 2009 at 06:52 AM
My kids have been using these for their online games for quite awhile....called various things like Gaia points and Xenon points.
Posted by: oquinnlilliehook | Wednesday, May 13, 2009 at 10:29 AM
@Arcadia, I suspect Zeevex wants to make a buck too and will be a fat middleman skimming of cream. :P
@Oquinnlillihook(what a name, hope I spelled it write.) I suspect Gaia and Xenon point are only for one world or one publisher. I think Zeevex is trying to be a world currency for all worlds.
Posted by: Frans Charming | Wednesday, May 13, 2009 at 07:33 PM
"Arcadia, I suspect Zeevex wants to make a buck too and will be a fat middleman skimming of cream."
Oh, no doubt. But if they become a universal virtual currency and medium of "barter" of real goods (not true barter, since there's currency involved, but some schema that facilitates direct exchange of value between parties), I won't begrudge them a fair helping of cream.
Posted by: Arcadia Codesmith | Thursday, May 14, 2009 at 07:43 AM