Soul and Vibe Interactive, Inc. (SOUL) Reports Plan to Monetize Avatars for Marketing Impressions and Additional Revenues
Soul and Vibe Interactive, a publisher of games for consoles, mobile devices, and personal computers, today told investors that its business model includes selling monetized games-related content, including virtual apparel, costume, and prop collections for Avatars. In addition to generating an additional stream of revenue, Avatar items can promote brand awareness for Soul and Vibe’s games and intellectual properties.
Avatars, the digital representation of gamers, have grown in popularity across many computer and console platforms. Microsoft, for example, launched its Avatar Marketplace on Xbox Live in 2009. Through this online marketplace, users buy virtual apparel including t-shirts, shoes, accessories, and costumes. They can also purchase props such as pets, hand-held toys, and miniaturized ride-on vehicles based on gaming intellectual properties, pop-culture, and licensed-brands. Each Avatar item sold is a marketing impression for the game and IP with which it is associated for the 55+ million Xbox Live subscribers online.
“Soul and Vibe intends to sell Avatar item collections in conjunction with each game we release. Avatar items based on the IPs of our licensed-brand partners, like General Mills, and our own proprietary IPs, is an ideal way for us to expand awareness for each of our games,” stated Soul and Vibe’s CEO and President, Peter Anthony Chiodo (“Tony”).
“As a form of monetized games-related content, Avatar items are one form of revenue generating marketing vehicle that can provide an additional revenue stream for the Company. We also intend to develop and monetize in-game consumables and downloadable content that enhances and expands the experience for gamers,” Chiodo added.
For more information, visit www.soulandvibe.com
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