Posted by jgaudiosi :: Industry Trends
SaySwap unveiled the first ever social network for gamers in which people can trade video games, write blogs, and share tips and cheats with other enthusiasts all across the globe. SaySwap reduces the cost of new games to the user, facilitating trades through a combination of trading tokens and purchase points. SaySwap is backed by LiveUniverse, a company established by MySpace founder Brad Greenspan to focus on video, entertainment and social networking properties.
eIn addition to its direct to consumer site, SaySwap will also provide its game-trading platform to other game sites and retailers. CheatCodes.com, one of the largest cheat code web sites with over 1 million registered members, will be launching a white label version of SaySwap in November.
To obtain games they want from other SaySwap members, users combine purchase points, a virtual currency earned through trading and interacting with other members, and trading tokens purchased for $4.95. The trading tokens cover an easy, free pre-paid postage shipping system that allows for pure hassle-free trading. Upon registration, users are asked to create lists containing the games they want and the games they own. Thus, via customizable profile pages, members can browse each others' "want" and "have" lists and interact with one another to trade for the games they desire.
With a wide audience of video game enthusiasts, as well as moms who seek inexpensive gifts for loved ones, SaySwap derives its revenue from fee-based trade transactions.
SaySwap was founded by Mark Elfenbein, a visionary in the gaming industry, having co-founded SkillJam Technologies Corp, the Internet's largest pay-for-play casual gaming company with over 12 million registered users. SkillJam.com and its parent company, Fun Technologies was acquired by Liberty Media in 2006 at a $380M valuation.