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fatfoogoo Powers mEgo's New Virtual Goods Storefrontfatfoogoo's Microtransaction Ecosystem Bolsters mEgo's Avatar Engine, Tapping Into the Rapidly Growing and Lucrative Virtual Goods Market (June 17, 2009)
SAN FRANCISCO, CA -- (Marketwire) -- 06/17/09 -- fatfoogoo, the leading provider of in-game and online commerce ecosystems, today announced it is powering mEgo's smart virtual goods marketplace, where users can style, animate and accessorize their online personal profile. mEgo is a first-of-its-kind, portable multimedia profile aggregator designed to manage and integrate one's online identity into a highly personalized avatar through a patent pending user interface. More than 1.25 million mEgos are currently found on more than 650 social networks, including Facebook, MySpace, Twitter and Flickr. With added customization and content purchase abilities made possible by fatfoogoo's commerce technology, mEgo is participating in the highly lucrative market for virtual goods. Already part of a growing trend, the Gartner Group predicts that in 2011, more than 80% of active Internet users will have an avatar.
With fatfoogoo's commerce system, mEgo users can purchase a vast number of virtual goods -- such as clothes, accessories, background displays, animations and featured content -- available in the storefront on mEgo.com or its integrated websites. The smart storefront allows users to dress by brand, theme, price-point, popularity, auction and rarity. Through the mEgo user interface, consumers click on the virtual good on the avatar to learn more about the item and click-through to purchase the real-world item.
fatfoogoo is the leading monetization software provider handling microtransactions, subscriptions, virtual currencies, e-wallets, goods trading and more. Its core competencies matched mEgo's needs -- supporting global online transactions with expertise in telecom, an area of growth for mEgo. mEgo and its new virtual goods marketplace will soon be available on mobile devices, including the iPhone, as well on IM services.
"The immense undertaking in managing mEgo's storefront filled with limitless items, global currency exchange and staying true to a particular brand was easily accomplished with fatfoogoo's commerce platform," said Martin Herdina, co-founder and CEO, fatfoogoo. "As the virtual goods industry rapidly expands beyond virtual worlds to casual and hardcore games, online stores and social networks like mEgo, companies depend on our technology and experience to increase the key factors for success -- low fraud rate, global economic management and shortened development time. It literally pays to outsource commerce needs."
By outsourcing the marketplace to fatfoogoo, mEgo was able to quickly have a robust virtual goods offering. More importantly, with fatfoogoo's technology and best practices, mEgo can rely on low fraud rates and international monetary compliance.
"We are very excited to work with fatfoogoo and provide our users with a proven and tangible global commerce solution," said Ariel McNichol, mEgo co-founder and co-CEO. "Tapping into fatfoogoo's e-commerce platform, our virtual goods storefront has come to market six months to a year sooner than if we had to build the system ourselves -- a win-win for everyone."
As the company solves the problem of having to create and maintain different profiles on multiple social networks and sites, it keeps its leading edge with the launch of its new online storefront and additional avatar functionality. mEgo is currently developing a contextual suggestion feature that will tap into profile data to offer users relevant utilities, content and products.
In recent news, fatfoogoo announced its partnership with Digital River. Combined, the two companies will provide on-demand e-commerce and in-game commerce for publishers on a global scale. Additionally, fatfoogoo is the exclusive provider of in-game commerce for Rebel Monkey's virtual world, CampFu, now with more than 100,000 players. Its white-label commerce system is a custom turnkey solution for publishers and developers that want to enhance the online experience for gamers or online users in any industry.
fatfoogoo is the leading in-game commerce ecosystem for monetizing online games and virtual worlds. fatfoogoo's solutions allow both publisher-to-player and player-to-player financial interaction, as well as traditional user and subscription management. Publishers can choose white label turnkey solutions or individually configured modules. Founded in 2006 by telecommunication veterans, Daniel Petri and Martin Herdina, fatfoogoo is headquartered in Austria and also has offices in the US and the UK. For more information, please visit www.fatfoogoo.com.
mEgo was created with the mission to make managing and sharing one's online persona a more transparent, fun and useful experience. mEgo empowers users to access, manage and share their information through a patent pending user interface based on an avatar, that flows seamlessly from desktop to handset. Founded in 2007 by Internet and telecommunication veterans, Ariel McNichol and Julia Johnston, mEgo is headquartered in Los Angeles. For more information please visit www.mEgo.com or contact [email protected].
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