In this second part of my three-part interview with Gurbaksh Chahal, CEO of gWallet, we continue the discussion on monetizing social networks. GWallet is a monetization platform for social gaming which raised $10.5 million in funding last fall. GWallet essentially allows members of social games to forgo paying cash to stay in the game.
About one to two percent of those who play online games actually "pay" to play, said Chahal. To that end, gWallet's mission is to tap into the 95% of those who enjoy playing but don't like to take out their credit cards. Serving up video advertisements, such as movie trailers, has been one way gWallet has been able to convert those users into paying customers.
Watch this interview for more on how gWallet's offers and its screening policies to ensure it doesn't offer questionable ones.
See the first interview: The money engine behind social games.