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Social gaming site I’minlikewithyou announced that it will start selling virtual goods in an effort to help monetize the site, according to Silicon Valley Insider. This is a trend that we’ll see continue due to the perpetually low revenues being generated from traditional banner advertising on these sites (and in this economy).

Further enticing companies like I’minlikewithyou to pursue this course of action are the reports that Facebook and social gamer Zynga generated $30-$40 million and $50 million in revenue, respectively, last year alone. With most social gaming sites trying to figure out how to effectively monetize this highly-engaged audience, the future should prove that having a virtual economy or selling virtual goods will be the winning business model.

If I were to launch a social site or game today, a virtual economy would be a key feature.

We wish you much success I’minlikewithyou! Be sure to let us know if you need help monetizing your virtual currency.