I noticed this display in my local drugstore chain the other day, a whole section devoted to prepaid debit cards for all manner of goods and services -- international calling minutes, iTunes downloads, Amazon purchases, and so on. You're bound to see still more of these display racks in retail stores over the holidays, as they make an ideal last-minute gift. Looking closer, I noticed roughly a third of the entire rack were prepaid cards for virtual currencies, for videogame consoles, social games, and some of the major virtual worlds and MMOs, including the largest web-based title, Habbo:
One virtual currency selection is painfully missing, of course: Linden Dollars. While Second Life almost certainly has some of the highest average revenue per user rates of any freemium virtual world, the payment process (via credit card, for the most part) still remains frustrating at best. A prepaid retail card would make it generally easier to buy Linden Dollars, while fostering mainstream adoption in several ways:
- Organic Promotion: The mere existence of a Linden Dollar prepaid card in retail stores would turn Second Life into "impulse buy".
- Market Adaption: As with Habbo, most of the large virtual worlds and MMOs popular with kids have a prepaid card offering. A Linden Dollar card would align Second Life with their buying habits as they turn 18.
- Boost Conversion: Most people give up on Second Life within the first few hours of installation. A prepaid card instantly acts as a conversion incentive, nudging them past the painful learning curve with the reassurance that they're entering a new place with spending money in hand.
These would be the likely immediate effects of a retail card. The likely medium term consequence is also a good one: by adding more consumers into the Second Life economy, the best content creators will have a reason to build and expand their business beyond the existing market, which counts about 465,000 or so, a number that hasn't substantially grown in the last couple years. (It was 300,000 in 2007.)
If you live in Southeast Asia, you actually can buy pre-paid cards for Linden Dollars. A small Singapore company called First Meta recently introduced this service. Perhaps not coincidentally, the nations with the biggest spenders of Linden Dollars are (proportionally speaking) Hong Kong and Malaysia, where First Meta cards are sold. But with the majority of Second Life spenders in the US and EU, real growth awaits the appearance of those cards in your local Target.
Part Three of a series, introduced here, to explain why mass market adoption is so important. Part One: "Deep Integration With Facebook", Part Two: "Point-and-Click Avatar Movement"