Social Media Blog: Sales of Virtual Goods expected to reach $1Billion in 2010

"Thanks to the astonishing growth of games on social networks such as Facebook and MySpace, the U.S. virtual goods market is poised to clear $1 billion in revenues in 2009, more than doubling from a year earlier, according to a new report. By 2010, revenues could hit $1.6 billion as users become more comfortable paying for virtual goods in small transactions that are executed in a seamless fashion. But 2009 will be remembered as the year when it all took off, said Justin Smith, founder of Inside Network and co-author of the report."
Yes, I Billion in Virtual Crap!
Can anyone explain to me why ANY ONE in their right mind would want to spend ANY REAL MONEY on faux flowers, game tokens, and other "VIRTUAL" stuff? Boggles my mind!  Yours?

( Click here to read full article by Dean Takahash about Social Gaming spend reaching $1 Billion.)

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