K2 Network chooses PlaySpan for microtransaction commerce

K2 Network has announced an agreement to make PlaySpan its official in-game marketplace for virtual goods.

"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 and CEO of K2 Network Inc.

The multi-year exclusive agreement across multiple titles makes PlaySpan the first publisher-sponsored marketplace. With K2 Networkâs integration of the PlaySpan in-game client, K2 Network gamers will have the advantage of an open market for virtual goods within their online games.

"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," said Hong.

"We expect micro-transactions to emerge as a major revenue stream for online games and PlaySpan is clearly the pioneer in publisher-sponsored in-game commerce networks," added Wedbush Morgan Securities analyst Michael Pachter.