Bank of Google to open soon

Piggy BankGoogle as we all know are planning something big. But in the latest acquisition it could reveal a lot about the company plans. Google has already been dabbling in the financial industries market in the form of Google Checkout. A service which is proving popular with new business looking to start accepting cards for their websites at a fairly low cost.

Jambool is a virtual currency service allowing developers to provide monetary services in virtual environments. Their product goes by the name of Social Gold reflecting on the social networking aspect of their services.

Linden Labs use the service and are most known for being behind Second Life. Many popular Facebook applications such as Farmville use virtual money allowing you to purchase virtual goods such as upgrades. The general idea is that consumers purchase with real money virtual monies. Which google can certainly add that functionality to!

Industrial analysts predict that the social games market is to reach $835 Million by the end of the year. Why people spend this kind of money on online games is beyond me. In the meantime I’m off to play a game. 🙂

References
ZDNet
CNet
Jambool

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