Zeevex Debuts Virtual Currency For Online Games

Come July, Atlanta-based Zeevex is going to start selling its Xtreme Online Game Card in more than 20,000 brick-and-mortar retailers in the U.S. thanks to a distribution partnership with InComm, providing a way for gamers to buy virtual currency offline to redeem their online value through the Zeevex website at a later stage. By doing so, users create what Zeevex calls a ‘Digital Locker’, containing so-called Zeev Tokens that can be used for a variety of uses in online video games (e.g., for purchases of Gold or Coins, monthly subscriptions, one-time fees, and micro-transactions).

This is very similar to what PlaySpan is up to with its Ultimate Game Card. For more perspective on their product, read about their recent deal with hi5 or their acquisition of Spare Change.

According to the press release, the Zeevex Digital Lockers will include social network plug-ins (for Facebook, Twitter, MySpace and Bebo) so users can trade Zeev Tokens with anyone but also provide parental controls and support for micro-transactions as low as 5 cents.

Zeevex recently closed an undisclosed, private round of funding and is led by Ron Williams (CEO), Dean Gebert (CMO) and Robert Sanders (CTO). While the company would not go into detail on the financing round, it did say its seed round valuation was seven figures and that they are considering a VC-backed Series A round this Summer.