7 May 2011

Serious play: the business of social currency

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Arrow dude
Social currency is shared information that encourages further social encounters.

It’s not a new concept, but the social web increases its prevalence. In the web-based collaboration software platform called Rypple, a simple act of thanking someone on a team and using a badge as a way to show your gratitude is a form of social currency. A platform called Badgeville promises to add virtual rewards to your digital media property through leaderboards and virtual “badges” that act as reinforcements to reward certain behaviors and encourage others.

As someone who has taken a deep dive in several social networks (he joined Twitter in 2007) and observes both the gaming and currency aspects of them, David Armano believes these dynamics will influence the business world as it becomes more connected.

In this “social reward” economy, here are a few things he suggests we may want to consider as we manage teams and work to build the brand(s) of our organizations.

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We are an international experience design consultancy helping companies and organisations to innovate their products, services and processes by putting people and their experiences first.

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