Fascinating...The wheels are turning: Rixty Solves Credit Problem for Virtual Goods - Advertising Age - Digital

SAN FRANCISCO (AdAge.com) -- Founders of virtual-currency company Rixty were working on a virtual world when they ran into a problem: users eager to get into the world but too young or too broke to get a credit card required for the game.

The game, called vSide, is a music-focused virtual world targeted at teens, many of whom don't have credit cards. Then there are the horror stories like that of a 12-year-old who racked up a $1,400 balance playing Farmville on his mother's credit cards. Then, of course, the economic collapse of 2008 made paying for virtual stuff on credit seem, well, wrong.

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"These events expanded the need that [founder and CEO] Ted Sorom and [founder and VP-Engineering] Don Ferguson saw for non-credit card-based virtual currency," said Joel Andren, Rixty's director of marketing. "After the recession, people started looking at credit differently."

via adage.com

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http://adage.com/digital/article?article_id=145602#

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