Sina is once again pushing for deeper social interactions, turning the previous weak social bonds that was established under the microblog context into stronger ones that we expect to have in SNS. For most users, people you follow in Twitter are not necessarily your friends, but Sina is attempting to turn around with Weibo. Sina Weibo aspires to also not only a microblog, but a full SNS with shared social relations.
At present there are only 10 games, ranging from single player fast-paced arcade games to multi-player ones like Texas Hold’em. On 31st May, Sina Vice President Peng ShaoBin announced that Sina would not take any revenue share from 3rd party developers for the first 12 months. Let’s see if Sina can entice developers to join the platform.
2) Sina Weibi (微币) – Virtual Currency Seeks Virtual Goods
One Weibi (or micro coin) is equivalent to 1 RMB and allows users to pay for value added services in applications or games.
Sina Weibo is far from the first social networks to launch a virtual currency that allows users to pay for virtual goods or gifts. It’s a common source of revenue for most of the social networks in China to sell VIP memberships (unlocks cooler and ‘high status’ features), sell virtual gifts or decorations, purposes and to gain higher levels in social games.
While Weibi is currently only for use in the game center, it should be available for all third party applications in the future. The outcome of Sina Weibo’s attempt to host an App Store for developers will depend upon its ability to create a healthy ecosystem for third parties.
Weibi in itself illustrates dangers of ecosystem management. The name Weibi was originally conceived by a third-party startup team in Beijing, who registered the Weibo account of same name, but were forced to close earlier this year by Sina. Sina must clearly delineate where–and where not–third-party developers can tread.
One renminbi = one Weibi. No returns, happy gaming!
Weibi’s Tailwinds
ウエイビ自身は経済体制管理の危機を想定していた。ウエイビという名前はもともと北京の第三者団体が思いついたものであり、この団体は同じ名前でウェイボに登録している。しかし、今年初めにシナによって閉鎖された。シナは第三者ディベロッパが介入していい場所、ダメな場所を明確にした。
１レンミンビ ＝ １ウエイビ。 返品不可。ゲームをお楽しみください。
ウエイビの追い風。
Viral Spread – Content on Sina Weibo flys. It accounted for 8.15% of social shares in June and had an amazing 40.33% rate of return clicks. Users click contents shared on Sina Weibo more than any other social network in China. If games or e-commerce can tap into this viral spread, Weibi could also reach rapid turnover.
Mobile Payment – With annual smartphone sales to reach 18 million in 2012, China is becoming one of the largest smartphone markets in the world. Mobile commerce is an inevitable trend that has captured Sina’s attention. At the last Sina Weibo Developers Forum, mobile payment was announced as a key focus of Weibo’s value-added services.
モバイルペイメント - 2012年のスマートフォンの年間売り上げが1800万に達した中国は、世界最大のスマートフォン市場となりつつある。モバイルコマースは今や避けられない流行であり、これはシナの注意をとらえた。最近のシナ ウエイボ開発者フォーラムで、モバイルペイメントはウエイボが加える価値のあるサービスとして最も注目するものであるとの発表があった。
QWeibo virtual goods – purchases on QWeibo arce currently based on Beans earned for being an active user. But with the launch of Weibi, watch out for paid monthly subscriptions that grant VIP status and cooler decorations and virtual gifts for friends.
China’s Top 4 SNS Virtual Currencies
Finally, for reference, here are the top virtual currencies among Chinese social networks:
Tencent Q Coin (Q币) – This was among the earliest virtual currencies in China, and is perhaps the most mature model in the world. In 2010, 60% of Tencent’s sizable revenue or RMB 19.6 billion (USD $3 billion) was derived from its online gaming business. Around 10% of its 674 million QQ IM users pay for virtual items and VIP memberships that give them special status perks. Many of the payments come as monthly subscriptions rather than just one-off payments. With the launch of Tencent’s open platform Q+, we are expecting Q Coins to expand in scope.
