On Pet Society, one of the most popular social games on Facebook, users can pay $1 for a digital bonnet to adorn their virtual pet. It may seem like small change, but with 10m monthly active users, Pet Society is doing brisk business peddling digital accessories one dollar at a time.
Through Pet Society and thousands of other online games, a growing number of internet users are readily spending small amounts on these virtual goods. Taken together, they comprise a global market worth more than $2bn, according to Charles Hudson, vice-president of social game developer Serious Business.
Online games are one of several industries that have found micropayments to be a lucrative model for supporting their businesses.
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