At SplitP, we define iSpy and similar applications as "Real World Games". But what exactly is a Real World Game?
Real World Games use new mobile technologies to reward players for experiences they have in real life. They inspire these experiences by encouraging interaction between new people, places and things in the real world.
Real World Gaming is similar in a way to Alternate Reality Gaming except Real World Games don't have a fictional storyline or "puppet master". The content of the game is [crowdsourced] contributed by the players making it simply a set of tools enabling players to interact and compete with one another while on the go. Also note, while the two may work together, Real World Games are NOT Augmented Reality.
Real World Gaming is not a single game but a "type" of game. Like other types of games, we are going to see LOTS of awesome Real World Games. Games like iSpy, Foursquare and Gowalla all provide their own unique twist and future games are sure to push the limits of new mobile technologies. The more Real World Games we have, the brighter the spotlight shines on the Real World Gaming community as a whole.