From Susan’s blog:
“Virtual goods and virtual currencies are growing beyond their traditional roots in online gaming and beginning to exert growing influence on the development of social networks, community sites, and casual games. This growing influence is due in large part to the fact that consumers have shown a willingness to embrace virtual goods as a way to express themselves online. From pets to coins to avatars, virtual goods are becoming a real opportunity for companies who are looking to build more engaging online experiences:
- Neopets users have created over 206 million virtual pets
- Tencent has over 250 million active users in China and generated $100+ million in Q1 2007, 65% of their revenue comes from virtual goods and services
- Nexon generated $230 million in 2005, 85% of which came from virtual item sales
- Habbo Hotel has over 75 million registered avatars in 29 countries, 90% of their $60 million+ yearly revenue comes from virtual goods
- Gaia Online does over 50,000 person to person auctions a day – making them the 3rd largest auction site on the Internet. Their average user consumes 1200 page views a month.
We encourage you to join us at this year’s event and participate in what promises to be an exciting and lively conversation around some of the key questions facing the virtual goods market today:
- How will virtual goods and virtual currencies impact social networking?
- Are virtual goods the next big business model?
- What does it take to successfully launch a virtual goods offering?
- Are virtual goods poised to go mainstream?
- What does it take to nurture and develop a successful virtual economy?
- Why are users embracing virtual goods?