A few months back, MiKandi announced to our registered developers that we are adopting the virtual currency model. Most of you were already familiar with virtual currency, but some of you went, “Say whaaa’?”
Therefore, we’ll be dedicating our next blog series to explaining the ins and outs of virtual currency, why MiKandi is adopting it, and how it affects you.
Vir-tu-al cur-ren-cy [vur-choo-uhl kur-uhn-see]
So what the hell is virtual currency? Well, in short it’s:
- Symbolic currency with no legal tender
- Earned through activity, or converted from cash by purchasing bundles or packages of virtual coins or points
- Virtual coins or points that are used in a virtual market to purchase virtual goods
- A wicked awesome way to allow micro transactions without getting charged an arm and a leg in transaction fees
Or check out this interview of IMVU CEO Cary Rosenzweig.
Next week
Why is MiKandi adopting the virtual currency model?
Got feedback?
As a young company, we’re often working out the kinks and testing lots of small changes to our site and services. Often times, we find these issues before anyone notices, but if you should run into any problems or have concerns, be sure to contact us ASAP at developer@mikandi.com.
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