Leader in Virtual Currency Forms gWallet Ventures in Effort to Spur Innovation and Further Increase Impact on Social Gaming Landscape

SAN FRANCISCO, Jan. 20 /PRNewswire/ -- gWallet, a new monetization platform for social media, today announced gWallet Ventures, an early-stage fund to invest in social gaming companies, and accelerate innovation within the growing social gaming ecosystem.

gWallet has already begun searching for investment opportunities. It is in active diligence with major developers on Facebook and MySpace, as well as smaller, innovative social gaming companies that are looking to bring their games to the masses. By investing back into the social gaming market, gWallet is showing a commitment to bringing quality games to the space, and to making sure that social gaming, and the advertising opportunities that accompany it, will continue to grow.

"There are a lot of social gaming companies out there that have not received the attention they deserve," said Gurbaksh Chahal, CEO and founder of gWallet. "gWallet Ventures is an opportunity for some of these companies to receive the funding they need in order to be successful, and in the end, we think that these funding deals will instill a virtuous cycle of growth among publishers, brands, and consumers alike."

Additionally, gWallet is collaborating with MySpace to help the funded companies developing on the MySpace platform gain distribution within MySpace's extensive network.  MySpace is committed to growing the social gaming industry by providing promotional opportunities for gWallet Ventures portfolio companies.

For social gaming companies, the opportunity to work with gWallet will provide numerous benefits, including:

• Growth Capital – gWallet seeks to place minority investments ranging from $100,000 to $1 million per company.
• Enhanced Monetization Opportunities – gWallet can engineer customized monetization solutions for its portfolio companies.
• New Business – gWallet is routinely approached by advertisers that want to create their own private label games or integrate deeply within a social game.
• Access to Capital – A gWallet investment can raise the profile of a startup and attract investors not only from gWallet's extensive network but beyond.
• Liquidity – gWallet works closely with major publishers and can facilitate potential acquisition discussions.
• MySpace Promotion – gWallet is working with MySpace to provide promotional opportunities for those companies developing on the MySpace platform.

For more information on gWallet, please visit http://www.gwallet.com/ventures/ .

About gWallet

gWallet is taking on the responsibility of bringing new technologies to social media that will provide transparency and standards that will allow the category to flourish and grow. It provides brands, publishers and social media platforms with new, cutting edge technology to monetize this growth in a consumer friendly format. The gWallet monetization platform contains three components including Alternative Online Payment, Virtual Currency and Aggregation of Virtual Products. The platform is a comprehensive system that has been optimized for Facebook, OpenSocial platforms (MySpace, Hi5, Tagged, etc), virtual worlds or websites utilizing virtual offer-based currency. For more information visit www.gWallet.com.

SOURCE gWallet

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