Virtual currency platform gWallet is announcing a partnership with online privacy certification company TRUSTe to reinforce gWallet ethical guidelines in the virtual currency space. gWallet partners with both brands and game developers to bring users virtual currency offers on games within social networks.
Following the Scamville controversy in the virtual offers space, the startups which provide these offers on games have been working to rid their platforms of misleading offers. In fact, Offerpal CEO George Garrick promised to take a leadership position in cleaning up scammy ads. Competitor Gwallet has also promised to never offer these type of ads, and is now partnering with TRUSTe to certify gWallet’s privacy practices. TRUSTe will also monitor offers submitted by gWallet‘s advertisers to ensure they aren’t misleading. For example, previously fake quizzes would be tied to long term mobile subscriptions, malware-laden toolbar downloads and and other scams. And Gwallet is betting on TRUSTe to keep these offers at bay.
gWallet, which recently raised $10 million in funding, was founded by serial entrepreneur Gurbaksh Chahal. gWallet works directly with brands directly as opposed to adopting an affiliate leads model and uses branded video campaigns to engage with consumers. Disney, Best Buy, K-Mart, Nestle, Coke, and The History Channel are all using gWallet’s video campaigns on social networks, which are powered by Tube Mogul.
gWallet also announced an early-stage venture fund to invest in social gaming companies and promote innovation within the social gaming ecosystem. gWallet faces competition from Offerpal and SuperRewards.