Buddy Media’s goal in building AceBucks is to create a new, web-wide loyalty program. Users are going to be more loyal to applications and businesses that reward them for using and buying their products and services.

We’ve seen how these economics played out in the credit card (AmEx Rewards), airline (the mileage programs), hotel (Starwood Points) and other industries. We’re making a bet that the new social networks are ripe for a loyalty program that rewards users with high-value points (AceBucks) in exchange for their engagement (playing games, taking surveys, completing offers, etc.) The equation is simple — our users get free stuff and our marketing partners get engaged users.

Our primary weapon in cementing AceBucks as the loyalty program preferred by an entire generation of web users is the recently launched AceBucks API. Our API is an application programming interface that lets third-party developers interact with the AceBucks system to verify account holders and credit, debit and authorize accounts.

The first applications that implemented an early version of the AceBucks API were launched Oct. 18 in partnership with Skyworks. Skyworks is a leading online casual games company. The Skyworks management team includes video game industry pioneers David Crane and Garry Kitchen who were among the co-founders of Activision and Absolute Entertainment before Skyworks.

We launched 5 games — Sudoku, Air Hockey, Pub Darts, Mental Blocks and Corn Hole. All of the games are relatively similar in their implementation. Users get AceBucks for installing, referring friends and playing the games.