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The startup has inked a deal with Dallas-based to provide a virtua l currencymicropayment option. In a digital age where readers expect their newsfor "old-school" media is flirting with the concepyt of micropayments — allowing readers to pay for only the articlesz they read, rather than an all-you-can-read subscription. Zeeve was launched last year by thre e video game and socialnetwork executives.
The startu has raised an undisclosed amount of seed financinh and is considering another round this While Zeevex targets gamers with itsvirtual it's not quite clear if it will get mainstreamn traction — either from users, or the Zeevex has developed an open virtualp currency aimed at the online gamerr market. Beckett Media focuses on that same niche, with more than 30 Readers of Beckettpublications — which include sports and specialty market collectible magazines — will be able to purchasd new and archived content using Zeevex's virtualp currency.
Users can also purchase articlesfor friends, then requestr Zeevex deliver them across social networka such as Twitter, Facebook and Zeevex provides a payment option for the 30 millionm gamers who don't have access to credit cards or PayPal accounts, marketing chief Dean Gebert While Zeevex fills a need for thosee 30 million under-age and unbanked the game-changer lies in the startup's ability to shiftf from niche to a mass-market. "We are reallh targeting gamerswho don't have any option," he said. Startin July 1, consumers can buy a Zeevexs Gift Card in morethan 20,000 U.S.
retailer such as Blockbuster, convenience stores and big-box Zeevex is in late-stage negotiations with Best Buy. The Zeevex card is redeemecd for online tokensat Zeevex.com and can be spenty like cash at Zeevex’s partner sites and $1 of Zeevex Gift Card value gets you 100 Zeev tokens. Credit carda are not cost-effective for small micropaymentx — which range from a few centd to a fewdollars — because of transactiob and processing fees, Gebert said. Usin Zeevex, the content creator pockets about 65 percent to 67 percentr of thetransaction amount, Gebert said. Zeevex, takes a 7 percent to 12 percent ofthe transaction, with the retailefr taking the rest.
While Zeevex's virtuao currency gives gamers anotherpaymenr option, what's not as clear is whether the Zeevex'zs payment model will find adoption among mainstream usersa and media. As a mainstream user, paying for an article usingg a credit cardor Paypal, seems simplee than having to bother with buying the Zeeve card and then redeeming it for Gebert concedes that getting mainstream media to buy-inh will be a challenge and that Zeevex'ws gift-card model creates a "point of friction in the for some users.
