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GetJar announces GetJar Gold virtual currency for Android

Not content to score Android exclusives and give away tons of apps for free GetJar is now minting its own virtual currency, GetJar Gold.

Not to be confused with the premium app store of the same name, the new GetJar Gold currency will allow Android fans to buy games an in-app purchases from GetJar simply by using GetJar’s independent app store.

Instead of being a Disneyland-style currency system where you pay up front for GetJar money, GetJar says that its virtual currency is funded entirely by advertising. It’s perhaps best thought of as a loyalty card scheme, where instead of getting money off of kettles and flat screen TVs you can get money off extra levels, power-ups and new games.

Though you’ll have to download apps from GetJar in order to earn virtual cash, GetJar says you’ll be able to spend its Gold in Android apps that support it whether they’ve been downloaded from the Amazon Appstore, Android Market or GetJar’s own store.

Money for nothing and your apps for free

Developers can use this GetJar SDK to support GetJar Gold virtual currency for in-app transactions as well as upgrades from free to premium versions of their app. Virtual currency collected by devs can then be exchanged with GetJar for real cash money.

“The virtual nature of the currency and its linking to the global advertising spend 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,” said GetJar CEO Ilja Laurs. “Our early results are showing significant increases in both revenue and conversion, and we expect developers will experience an increase of up to 10X for participating.”

So it’s a win-win situation for everyone; developers can earn their bacon, GetJar rewards brand loyalty and gets a profile boost. Best of all, us, the app-hungry public, can get our hands on free stuff.

It’ll be a while before we see this currency taken up, but we’re looking forwards to see which developers pick it up.


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