GetJar is taking another step to differentiate its app store from the competition. Their latest offering, GetJar Gold virtual currency, is made to reward consumer loyalty and improve monetization across the entire Android ecosystem.
Backed entirely by advertising spending, it allows consumers to earn some virtual cash by downloading Android apps, and then spend it on premium apps and in-app purchases. The best part is that this is a global scheme, enabling consumers to use their virtual money with any Android apps from any app store, and yes – this includes Android Market and Amazon Appstore.
Developers on their end will be able to exchange all of the virtual currency collected with real dollars from GetJar.
According to GetJar’s CEO Ilja Laurs, GetJar Gold virtual currency link to the advertising spend will solve two major problems that the traditional billing platforms have struggled with – low conversions due to the complicated user experience and the lack of access to global markets.
Sounds like a win-win scenario for both consumers and developers, and we do hope it works.