GetJar, the worlds second largest app store, has announced the launch of a new virtual currency system rewarding users with virtual money for loyalty (such as minutes spent on the site and actions completed) that can then be used to buy premium games.

The virtual currency, called GetJar Gold virtual currency can be used with Android apps downloaded from any app store, including the Android Market, Amazon AppStore, as well as GetJar’s own. more»

The last few years have seen an explosion of mobile applications and app stores. With the majority of mobile apps remaining free to download, many developers had hoped to monetize them through advertising.

But research shows there may be a better way, as the sale of virtual goods has already become the leading source of revenue in certain sectors. more»