Online monetization platform gWallet, which offers social gaming developers a variety of ways to monetize their apps and boost engagement, is debuting a new mobile ad offering today. Mobile app developers can now integrate virtual currency offers within their apps. However, instead of signing up for Netflix or other offers that gWallet uses on its web platform; the mobile offers ask for users to download an app in exchange for earning virtual currency.
For example, within an iPhone app, a user will be given the opportunity to earn virtual currency if they download the Netflix iPhone app. To expand reach of the new format, gWallet is partnering with mobile ad exchange Mobclix to allow developers integrate the branded offers within their apps. Developers purchase installs via a bidding system, with gWallet bringing in the brands to the platform. gWallet Mobile will be available on iPhone, Android, Blackberry, and other smartphone platforms.
gWallet launched late last year, positioning itself as a more trusted alternative to other ‘Offers’ companies in the wake of Scamville. One of the company’s more popular products is the video offer, which can reward an app user virtual currency in return for watching a video ad (they also have more traditional offers). But clearly, gWallet sees potential in bringing offers to the mobile advertising world, which is a $1 billion industry and is still growing.
As we’ve written in the past, the offers space is highly competitive; major Offers company OfferPal recently had to downsize in the wake of Facebook deciding that TrialPay would be its preferred Offers provider for Facebook Credits. But gWallet CEO and founder Gurbaksh Chahal says that Facebook offers only accounted for 15 percent of his business, so gWallet wasn’t seriously effected by Facebook’s move.
Still, there’s plenty of room to innovate give developers a compelling way to earn revenue from their mobile apps. Competitors OfferPal and Super Rewards also offer mobile offers to brands and developers.