A few years ago, only a handful of companies that focused on virtual, online commerce existed; today, it is one of the fastest growing markets. The rise in smartphone use has created an entirely new commerce space – online.
In 2016, the virtual goods economy was worth $100 billion in global sales. With this in mind, here are four different areas where startups are blooming:
- Apps that replace words with pictures (i.e. emojis, stickers)
- Virtual currencies, or cryptocurrencies (i.e. Bitcoin, Dogecoin, Zcash)
- In-app purchases in mobile games (i.e. color bombs in Candy Crush)
- Virtual assistants (i.e. Alexa, Siri)
Learn more about four areas of the virtual goods economy, and more in this edition of Founders Flash.
- How to make real money from virtual things (Inc.)
- Self-sanitizing keyboard creator Vioguard secures $5M, eyes escalator handrails and pens next (Geek Wire)
- 8 tips for planning a successful company retreat without breaking the bank (Tech Co.)
- In race against fake news, Google and Facebook stroll to the starting line (New York Times)
- How a growth push derailed CAN Capital, a big lender to small businesses (Wall Street Journal)
- Secrets of the most productive entrepreneurs (Forbes)