What is Empire Avenue? Is it game, a fad, or something else? EA promotes themselves as the Social Media Exchange, where you can invest virtual currency in any social media profile by buying their shares, meet new people, unlock achievement badges, and earn virtual cash by being active and social online.
I joined Empire Avenue over a week ago on May 14 to see what is was about after seeing some tweets about it on Twitter @EmpireAve. I have also had good discussions with some of my Twitter friends on the merits of Empire Avenue. With my financial and analytical background, I look at the framework of social media activities as needing to add economic value to ones business model and there is a lot of data out in the "Internet cloud"and many algorithm's trying to measure it. Empire Avenue does it differently than @PeerIndex and @Klout, by adding an element of fun and Game Theory.
When you join Empire Avenue, you can connect your Social Networking accounts, and they will score activity and engagement in each account and give you a virtual share price. Depending on the social account, it can take up to five days for your score to calibrate. The connections you make on Empire Avenue create "value-based" relationships, a deeper relationship than simply "following" someone, in a completely less intrusive context than becoming "friends." Some of them have now followed me into various Twitter Chat sessions. Every day, you're on Twitter, talking to friends on Facebook, uploading videos or photos, and writing blog posts. Just for doing your normal activity, you'll earn Eaves – virtual currency – and Empire Avenue will give some more virtual cash to your shareholders.
The stock price structure of Empire Avenue adds a human value based perspective to your social media activity. The value based approach also encourages you to check out your investments on their multiple social media platforms. In Game Theory it has shown that People use virtual currency (Eav's in the case of Emprie Avenue) as real money.
While People will utilize Empire Avenue as a game to get the highest market value, they will have to engage in social media activities to drive value. Trick, invite your heavy social media friends to join early and buy early before their activity is fully factored into the system. While I may have missed the LinkedIn IPO on its first day, I did miss the investment in Stacy Zapar,@StacyZapar Linkedin's #1 most connected woman and Viveka von Rosen @linkedinexpert, a leading trainer on LinkedIn debut's on Empire Avenue. This was Legal insider trading.