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I seriously question would you pay three dollars for a virtual NBA Jersey virtual you don't have the share.
Eleven dollars for our branded virtual snowboard that well will spin faster in that online -- -- -- flag.
These types of transactions are driving a four billion dollar global market.
And Dan Jensen is the founder and CEO of virtual greats and they sell online virtual goods to use -- social networks virtual worlds and online games.
Dan this is crazy.
But I know your profits are real but the actual stuff isn't is it.
No but it's it's part of what we call an immersive entertainment experience and it's analogous -- like if you go to a movie and put on your ten dollars to be honest -- you don't get me thing.
You're drawn into a compelling story with some friends and family in people pay real money for -- and they're they're paying a lot of real money for.
Virtual goods to make their social media experiences more compelling and five.
The paying four billion dollars that's a heck of a lot of money let's not let's talk a little that amount but so people understand this is like if I play in Lady -- -- farm bill I can buy stuff from your site.
To use in her game that the have.
Yeah you actually you buy you buy the items in the game you happen to be playing whether it's farm bill are we world are -- here.
Wherever and yet you buy them -- -- use them to customize.
Your player your avatar or your space in those online environment.
And you somehow landed huge brands to partake in this he got Snoop -- -- -- and Justin Timberlake.
Here's the deal that would she signs on for anything now but fifty cent is there I mean how did you get all these people to -- of flag.
Well if I could even extend -- -- the celebrities are fine and help folks love the talk about -- but frankly we sell even more from.
IP portfolios like sports leagues we have all the MBA or Major League soccer.
Division one colleges.
TV shows like Gossip Girl or fashion brands we have over 200 brands.
But the celebrities folks look to talk about why they do it it it it's -- my question increasingly why aren't you doing it it's it's found money.
It's incremental revenue live with very little time and effort.
That you can -- a lot of your promotional goals that you're one of those TV shows and it's the offseason you can stay in front -- your fans.
Your -- You can ultimately drive real world product sales.
Well that was my next question the use of really the -- and for the it.
The products that you are working with -- translate to hey I'm gonna go by this NBA product now as opposed to just haven't.
They sure as my avatar.
Yet that that's where this is going that's the next thing we we think it of -- can afford three different markets there's the four billion dollar virtual goods market which is going to 120 billion dollars according to some projections.
That's good enough but then there's next the current twenty billion dollar.
Online advertising market.
And that it that this is a much more effective way for advertisers to spend their advertising dollars in our view.
But ultimately it's about driving sales in the real world.
And that all three of those markets are very attractive to us and given the deep engagement in social media we can use virtual goods to kind of be more effective in each of them.
The website is a virtual greats really interesting stats and that the casual gamers average -- is 43.
Social Americans -- group is 45 and older males.
I have -- it's -- my mind.
Well that that's on the mess I'd love the dispel there everybody thinks it's kind of the weird kid heighten awareness basement.
Where -- -- away.
Now exceeds it in a few years ago I'd I'd explain to folks with a social network or was or casual game now.
Most folks are on FaceBook where there -- spouse place farm bill or their kids and we -- -- club penguin frame it it's mainstreamed and it's it's really.
It is making in my come out for sure and you know lot we don't know inventory and loads -- revenues.
It's no wonder why it's working -- know -- -- in Asia and I suppose the notion is to bring -- here Dan thanks so much for sharing all this with us.
I think certainly -- happy holidays yet -- -- -- and CEO of virtual greats check out the website or by.
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