It seems that the next success stories we will be hearing about on the Internet is about those who are selling virtual products. What are virtual products? They are illustrations of products they are being sold on places such as Facebook. Picture this if you will. Someone on Facebook has a birthday and you send them a virtual birthday cake for a $1. The person receiving it will be happy since you remembered their special day. The person selling the virtual product is happy since the profit margin is about 100%.
According to an article over at the N.Y. Times it also states the following:
Analysts estimate that virtual goods could bring in a billion dollars in the United States and around $5 billion worldwide this year — all for things that, aside from perhaps a few hours of work by an artist and a programmer, cost nothing to produce.
I must admit when I first read about virtual products I thought to myself, what a crazy idea. Who would buy something like this? I than recalled another crazy idea that happened many years ago. It was called bottled water. Who would buy something that you could get right out of your tap? Almost all of us do buy bottled water so why wouldn’t we buy virtual products?
What do you think? Would you buy a virtual product?
Let us know.