K2, PlaySpan Partner For In-Game Commerce

Online game publisher K2 Network and PlaySpan, developers of an in-game commerce network, have announced a multi-year, multiple title exclusive agreement to make PlaySpan K2 Network’s official in-game marketplace for virtual goods. Silicon Valley-based PlaySpan recently announced it had secured $6.5 million in Series A funding to position itself in the virtual goods market. PlaySpan pegs the market for in-game commerce at $2 billion this year, as real money transactions (RMTs) see wider adoption. At the time of the funding announcement, PlaySpan said it is building a network for microtransactions and in-game financial exchanges to enable more publishers to integrate commerce into their games. Now, PlaySpan's in-game client will be integrated with K2's online games, creating an open market for virtual goods within them. “A large segment of our gamers enjoy peer-to-peer commerce as a part of their game experience and we want to respond to our gamer’s needs,” said Joshua Hong, Co-Founder & CEO, K2 Network Inc. “PlaySpan is leading the category with its in-game widget technology and peer-to-peer micro-transaction network which greatly enhances the game experience and we are excited to be one of the first to provide this truly integrated user experience.”