GetJar Launches Virtual Currency for Android Apps
Mobile App store, GetJar announced today that it is expanding its GetJar Gold Program with GetJar Gold virtual currency that rewards consumer loyalty and aims to improve monetization for Android apps.
GetJar Gold virtual currency is backed entirely by advertising spending rather than consumer dollars.
Consumers earn GetJar Gold virtual currency by downloading any Android apps, and can spend it on premium apps and in-app purchases. GetJar Gold virtual currency can be used with any Android apps from any app store, including GetJar, Android Market and Amazon.
Developers can use the GetJar SDK to support GetJar Gold virtual currency for in-app transactions as well as upgrades from free to premium versions of their app. Virtual currency collected by app developers can be exchanged with GetJar for real dollars. The SDK is available and can be downloaded here.
"The virtual nature of the currency and its linking to the global advertising spend solve two major problems that the traditional billing platforms have struggled with - low conversions due to the complicated user experience and the lack of access to global markets," said GetJar CEO Ilja Laurs. "Our early results are showing significant increases in both revenue and conversion, and we expect developers will experience an increase of up to 10X for participating."
