Selling Virtual Currencies

First published June 5, 2010

Selling virtual currencies can be tough.

First, there are lots of people who simply don't get it. And it often sounds like a scam, or a bad pricing deal. Think disney world or large strip clubs, both of which are known to use virtual currencies.

Some ideas on making it easier to sell:

1. Sell stuff that is only priced in the virtual currency  
2. Allow people to earn virtual currency for participation  
3. Make stuff cheaper if it is priced in the virtual currency (ie discount for using it)  
4. Offer banking elements -- ie fixed interest payments. The idea of selling a virtual currency as a solution to monetary policy probably cannot be done directly, regardless of how much folks complain about rising prices, with the exception of certain political/economics communities. But, I think providing the benefits -- lower prices -- is valuable marketing, even if it needs to be done somewhat indirectly.