Nickelodeon to Launch Virtual Worlds for SpongeBob SquarePants and Monkey World

Last July, MTV Networks’ Nickelodeon Kids and Family Group announced that it would invest $100 million into casual games and virtual worlds. Today already saw the announcement of World of Neopia, the first  to come out of the newly formed Neostudios. Today the company also announced that it would develop another virtual world deveoted to SpongeBob SquarePants as well as a social network and MMOG called Monkey World, based on entirely new concepts, all supported by paid tiers for premium content and additional customization. "Now a virtual world is putting its foot out there as another viable medium, not just to extend brands but to create brands," Steve Youngwood, executive vp digital media at Nickelodeon/MTVN Kids and Family Group, told Hollywood Reporter.