GetJar launches virtual currency for games across Android's app stores

GetJar has launched a new virtual currency that works for games released across Android's various app stores, including its own free app store, Android Market, and Amazon's Appstore. The company claims the currency and its linking to global advertisements solve two problems similar platforms have previously faced: low free-to-paid conversions due to complicated user experiences, and the lack of access to global markets. Consumers earn GetJar Gold by downloading a free, GetJar-powered game from any Android Store. They can then spend that virtual currency on microtransactions or on upgrades to purchase premium versions of free games. Developers then collect the virtual currency that users spend in their games, and exchange it with GetJar for real money. They can sign up for the program and download the GetJar Gold software development kit at the company's site. GetJar claims that early results from its virtual currency have significantly grown revenues and conversions for developers, and it expects that participants in the program will eventually see those numbers increase by as much as 10x. The new virtual currency increases the visibility of Silicon Valley-based GetJar, which operates a mobile app store that serves 350,000 free games and apps for devices running Android, Java, Symbian, and other platforms. The company allows developers to upload their games for free, and bid for ads to promote their titles on the service.