Pure Verticals' Patent-Pending Technology Revolutionizes Monetization of User Generated Content (MUGC)
November 29, 2007 (PRLEAP.COM) Technology NewsSan Francisco, CA - November 29, 2007 — Pure Verticals recently filed for patent protection for its revolutionary Monetizing User-Generated Content (MUGC) technology. The unique MUGC platform allows end users complete control of the brands they wish to promote within their user generated content (UGC), and allows for a rich blend of revenue-sharing opportunities. Pure Verticals also announced today that a web site featuring the MUGC process will be available for beta testing by consumers in the first quarter of 2008.
MUGC will provide any virtual community – such as horizontal and vertical social networks, online gaming communities, virtual worlds and the like – with the ability to give its members unheard-of control over how products are advertised and placed within their content, while allowing the communities and their members to generate revenue while reinforcing their community values. MUGC brings the democratization of content to advertising. Instead of providing “slots” into which others can place ads using targeting approaches that are invisible, beyond their control and often repugnant to their Web 2.0 sensibilities, users choose which products to promote and how to promote them. With optional feedback and reputation management features that assist the consumers of UGC in deciding whom to trust, MUGC truly is a media-industry first. MUGC users and the users of their content will no longer think of advertising, but of communities sharing important information about products and services that enrich their lives.
MUGC works by providing members of virtual communities with a unique method of monetizing their UGC by integrating proprietary page code and a new kind of online shopping cart. "The vast majority of social network sites do not provide their members shopping services yet they have a clear need to buy and are only a click away. Ninety percent of the typical horizontal social network is comprised of interest groups, such as do-it-yourself, cooking, and travel. These members buy group-related products from other sites or off-line because they are not offered the opportunity to purchase within the social network site. It’s widely known that users will choose to buy products recommended by fellow consumers/members – so the ability to purchase right from the UGC offering the endorsement is a powerful – and completely missed – opportunity. Vertical networks are larger versions of these horizontal social network groups, but with the ability to deliver specialized services for their niche industries”, says Theresa Klinger, co-founder and COO of Pure Verticals.
“The MUGC shopping cart allows any number of merchants to sell their products. While site operators will benefit from having many merchants participate, brand specific social networks may opt to act as the sole merchant”, says Klinger.
Social networks naturally concentrate large numbers of enthusiasts and guests who are all looking to purchase as a result of the UGC they have just viewed. Under MUGC, site members view the trusted UGC and, while still on the UGC presentation page, simply click a button and they have the option to immediately purchase one or all of the products the UGC member specifically endorsed. This is a win-win for everyone; site operators provide a much needed service to their site members, UGC owners can now directly endorse their favorite brands while also participating in revenue sharing opportunities, businesses receive increased sales through consumer affiliate extensions, and social site consumers can purchase products directly from the UGC page which endorsed the product and prompted the purchase.
The company's application for patent protection on the MUGC process and technology is now pending in the U.S. Patent and Trademark Office.
About Pure Verticals and Next-Generation Vertical Social Networks
Pure Verticals, Inc. was established by a team on a mission to make vertical social networks not just better, but better in ways which will revolutionize the way we understand them today. Pure Verticals combines traditional needs, innovative and tested technologies, and creative out-of-the-box ideas in order to extend the ultimate value of vertical social networks.
Combining the power of the internet with emerging and adopted media, Pure Verticals provides vertical networks with media distribution outlets which span the Web, television, mobile and other mass media channels. These vertical networks bring like-minded people together by delivering superior and premium experiences while developing innovative ways to broadcast themselves, interact and receive true value for their respective markets.
Pure Verticals, Inc.