On a very much lighter note than my last post, I have come across (thanks to a friend’s post in Facebook) an interesting social media phenomena which I think is very interesting. It is called Empire Avenue.
This is an extract taken from Mashable’s write up about it
Genius Idea: Empire Avenue is a virtual online influence stock exchange game that uses people or websites as sticker symbols. Yes, that means you can buy and sell shares in your friends and they can buy and sell shares in you!
Remember the virtual online stock exchange games from the Internet 1.0 boom and stuff like the Hollywood Stock Exchange? Empire Avenue is based upon a similar idea, but it focuses on the degree of online influence of individuals or organizations. Stock price is determined by reach, activity and engagement levels across Twitter, Facebook, blogs and more.
While right now Empire Avenue is just a game, complete with award badges and virtual currency bonuses for doing certain tasks, in the future the goal is to connect advertisers and brands to influencers.
At that point, influencers can then choose whether or not they want to promote or carry advertising for a brand or product, and in turn receive a portion of the advertising revenue.