Event-Based Virtual Currency for Game Engagement
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Solution Overview
Problem
Existing virtual currency systems in virtual spaces face challenges in maintaining profitability and user engagement due to the permanent nature of virtual currency, which limits the perceived value and encourages negative long-term effects on revenue and user perception.
Innovation Solution
A system is implemented that facilitates event-based currency, where a default virtual currency is used alongside an event-specific virtual currency that is distributed during a predetermined event time period as a reward for specific operations and achievements. This event virtual currency becomes unusable after the event time period, thereby avoiding negative impacts on the default virtual currency.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If promotional events are held using default virtual currency, then short-term profits and user engagement are boosted, but long-term profitability and perceived value of the default currency deteriorate
Solution Approach 1:
The patent segments the virtual currency system into two distinct types: default virtual currency for permanent use and event-specific virtual currency for temporary promotions. This segmentation allows promotional events to use event-specific currency, isolating the negative effects to a temporary subset while preserving the long-term value of the default currency.
Solution Approach 2:
Event-specific virtual currency acts as an intermediary medium during promotional events. It serves as a buffer that absorbs the negative impacts of promotions (such as devaluation and reduced perceived value) while protecting the default virtual currency from these harmful effects.
2Ease of operation
If default virtual currency is used for promotions, then user engagement increases during events, but perceived value and profitability per unit of default currency decrease
Solution Approach 1:
The system segments currency usage by purpose and time: event-specific currency handles promotional activities where high engagement is prioritized over unit profitability, while default currency maintains its value for permanent transactions. This allows simultaneous optimization of both engagement and profitability in different contexts.
Solution Approach 2:
The patent changes the temporal parameter of currency validity. Event-specific currency is configured with a limited time validity parameter, creating urgency and enhancing engagement during events, while the default currency maintains permanent validity, preserving its perceived value and profitability metrics.
3Stability of the object's composition
If virtual currency is made permanent, then users associate long-term value with it, but this limits profitability and perceived benefits during promotional events
Solution Approach 1:
The patent creates two currency segments with different temporal characteristics: permanent default currency for stable value association and temporary event-specific currency for promotional effectiveness. This resolves the contradiction by allowing both permanent value association and effective promotions to coexist in different segments.
Solution Approach 2:
Event-specific currency is introduced as a periodic, time-limited instrument that circulates only during promotional events. This periodic introduction creates scarcity and urgency, enhancing promotional effectiveness, while the permanent default currency maintains stable value association outside these periodic events.
Data Source
AI summary
An approach to facilitating event-based currency is provided. A first virtual currency usable by users of a game space to purchase in-space benefits may be managed. An event in the game space that is conducted during an event time period may be managed such that, during the event time period, an event virtual currency may be distributed to one or more of the users as a reward for certain operations and/or achievements performed in the game space during the event time period. Exchanges of in-space benefits associated with the event virtual currency may be effectuated for one or more of the users. In some implementations, the event virtual currency may not available to the users after the event time period, while the first virtual currency may be available to the users during and after the event time period.