Online community network theglobe.com (Nasdaq: TGLO) is offering a unique way for its users to enter the e-commerce arena.
Theglobe.com, which boasts more than 9.3 million users, will provide Wave System’s new MyPublish e-commerce service to its members. The service will allow users to sell digital content, including images, text, audio, video and software, to other users from their home pages at theglobe.com. Users will be able to set their own prices for their property.
Using Wave System’s encryption engine, MyPublish will allows the user to post and publish their intellectual property anywhere on the Web. Buyers can simply double-click on what they’re interested in to make a purchase by entering their name and credit-card information.
Wave Systems will process the transactions and offer customer service. Users can list property for free. Wave Systems and theglobe.com will share a percentage of the revenue from each sale.
“Enabling individuals on the Web to market and sell intellectual property within their areas of interest is a very powerful way to use the Internet,” said Steven Sprague, president of Wave Systems. “It is a level of utility that until now has not been realized.”
Service Empowers Individuals
This new service is empowering for individuals with big ideas because it eliminates the cost and hassle of opening up an online store, or relying on an auction site to sell intellectual property. Among those who could benefit greatly are independent software programmers and Web designers. “Used” Web sites have been auctioned off for thousands on eBay, and theglobe.com now offers another — and perhaps better — forum to sell similar items, be they old or new.
This could also be a way for musicians to distribute their music online that could add fuel to the MP3 debate. If this service becomes popular, more and more artists could opt for online distribution and promotion of their work.
Stock Impact
Shares of theglobe.com closed up 1-1/4 to 62-1/4 after the news on Thursday. Shares of Wave Systems also climbed, rising 1-1/4 to 23-1/16.
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