Tinder is rolling out an in-app digital currency that can be purchased or earned, allowing users to buy or gift features and paid subscriptions.
According to a recent Bloomberg report, Tinder is rolling out its virtual currency to provide a deeper immersive experience and encourage users to spend money on the app’s paid subscriptions and a-la-carte services.
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According to Match Group’s second-quarter earnings call, Tinder has already tested the feature in some markets, with the company’s CEO, Shar Dubey, saying that the test results were encouraging enough to roll out the first country-wide pilot program for the feature.
The initiative will initially be piloted in Australia later this month, where its diverse community members represent Tinder’s broader user base, but it will soon be extended to other territories. Match Group’s CFO, Gary Swidler, also explained that the virtual currency will be “particularly well received by […] members in Asia, who are less used to subscription products.”
In addition to the ability to purchase in-app ‘coins,’ the tokens can also be earned by keeping your profile active. They can then be redeemed to unlock premium features, such as Super Likes and Boost, for better matching chances.
The company’s long-term expectations envision a use for the virtual currency that will “play an important role as the Tinder experience evolves and becomes more immersive because virtual currency is useful in the context of gifting digital goods,” explained Swidler in the same report.
Tinder currently runs on a ‘freemium’ model, meaning that users can subscribe and use basic services on a free tier and purchase features on a one-off basis or unlock premium services on a paid tier.