Social media agency AdParlor has expanded its virtual currency monetization platform, making this feature available on all the major social networking sites. Already having this option presented to developers using Facebook’s Platform, AdParlor has now extended the option to developers that would like to create applications with virtual currency on MySpace, Bebo and the others.

What the virtual currency option provides is a revenue-generating feature that benefits developers and AdParlor. As users interact with the given application, they earn virtual currency points which can usually be redeemed for rewards after a certain number of points have been earned.
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Back in November I wrote that the new GlamApps program validated the business of branded social applications. Yesterday Brian Morrissey of AdWeek wrote that branded applications “are as popular as desolate Second Life islands.” In many cases Brian would be right. An advertiser launches an application, traffic surges after an initial ad campaign, and typically traffic falls off. Regularly, a small percentage of people stick around.

Take for example the “Ballers Network” which Nike launched and which Morrissey refers to in his article. He states “Despite its global ambitions and support in three languages, the application has a mere 3,400 users per month.” Now compare that to traditional advertising. How many monthly users does a T.V. or radio commercial have after the commercial has run? None.
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