Pet Society is a Facebook game app that is very similar to Farmville. Although I’ve never played either, I understand that it’s a social game that allows you the opportunity to purchase items in the game (that don’t really exist) with real money in order to help you move forward along in the game. For example, a new tractor in Farmville can be earned through time and effort, or short-cutted to be purchased for about $3.
Here’s the crazy thing: Pet Society sells more of these virtual goods than Ebay sells actual things. That’s 90 million fake, non-existant things sold per day.
I don’t know about you, but my mind is blown.
Even though Zynga doesn’t make Pet Society, it’s till taking advantage of this interesting behavior. Some say it may very well be the most profitable company ever.
So my question is what is going on with the psyche that motivates players to buy so much fake crap? Obviously the low cost is a factor (and we know how successful micro-lending has been). Laziness. The competitive aspect of the game. The reward of playing at a new, higher level. All are factors. But to really understand this behavior could unlock some interesting insights into consumers. The holy grail of participation could very well be recognized here.
