Some would argue that the biggest problem with social media and the internet in general is that there are too many ways to waste time on it. Even before the rise of social games like Farmville and Draw Something, “surfing the net” was akin to a more interactive version of being a couch potato. The productivity potential has never been met. Not by a longshot.
Empire Avenue offers something a little different. There is actual value that can be found in playing the game that can help individuals and business achieve their social media goals. Before getting into how that works, it’s important to understand the game itself.
How Empire Avenue Works
In essence, it’s a social game where users buy and sell “stocks” of each other that are influenced by a wide variety of factors including social profile relevance, activity on and off the site, and the standard stock play of buying high and selling low. Users are given currency (EAves) and told to spend them on buying others.
A user’s stock price goes up based upon how many shares are being bought and sold. If, as it is pictured in the image above, a user were to buy a couple hundred shares of my stock, it would get a bump and be worth more. If someone else sells, it’s worth less. Simple, right?
The complication comes with the interactions on social networks. Empire Avenue uses various formulas similar to the ones used by Klout and other social influence measures and rates a user’s account based upon how well they’re doing. Being new to the game (I joined with the Soshable account on May 22), my influence score on Twitter is rising but my others are low. As a result, my dividends are lower. This is important.
Dividends are the monetary rewards offered daily for owning shares. If a player has a high dividend relative to their share price, they are more attractive to other buyers. The closer a person is to having dividends at 1% of their share price, the better of an investment they’ll be.
In the example above, Reg Saddler’s Zaibatsu account is expensive, but it also has a relatively-high yield on his dividends. If I were to buy shares of his stock, I would receive around 3.39 EAves per share per day. This number goes up and down based upon social activity, but as you can see his ratings on Facebook and Google+ are extremely high and many of his other accounts such as Instagram and Twitter are also doing well.
At 3.39 EAves dividend against 445.11 EAves per share, it would take a little over 4 months to earn the money back from the initial investment and I would still own all of the shares to sell at some point or to continue earning dividend revenue.
How It’s Useful
Those who play the game regularly are able to accumulate “wealth” in the form of EAves. They get this currency when people buy their stock and when their dividends are paid out. They also get a little money from their own activities on social networks, but this is small. The benefit of activity on social networks is to make their dividends offered on their own stocks higher, thus making them more attractive for purchase.
The other way they can make earn revenue is through missions. This is also the key to why Empire Avenue is useful for business and personal use.
Missions are commissioned by users and usually require an action on or off of Empire Avenue. Here’s an example with the details blotted out:
In this case, you can see that the user is requesting social media interaction and is offering 1500 EAves for up to 35 people to complete. It’s a very simple and straight-forward way to encourage engagement and improve the social media presence for a business, organization, or individual.
The quality level we’ve found from this sort of action is much higher than other services. Because users are invested (pun intended) in the game and it takes time (as you can see from my account) to get going, the spam level is much lower than on Facebook share groups or LinkedIn groups where people can join and start asking for comments on their teeth whitening blog. As we all know, not all social media accounts are created equal, so getting a retweet from @zaibatsu on Empire Avenue is better than getting a retweet from @hotrussiamchix4919.
Empire Avenue is a game of interaction and intelligence. It requires involvement, but once a user gets the hang of it they are able to do what they normally do on social networks and reap the rewards with minimal effort on the site itself. Sure, there are those who spend all day on the site buying and selling, doing missions, chatting and forming strategies; in other words, it can definitely be addicting and suddenly no longer be a productive endeavor.
Those who play the game right can help their company or themselves be more effective on social media.