Virtual Goods

“A fascinating, provocative case that the metaverse will not merely transform our virtual experience—it may actually enrich the quality of our lives” (Adam Grant)—from the visionary co-founder of one of today’s most innovative technology companies “This important book offers a highly persuasive argument that the metaverse, a new kind of virtual world, marks a profound next stage in this long human quest for fulfillment through creation.”—Chris Anderson, head of TED The concept of “the metaverse” has exploded in the public consciousness, but its contours remain elusive. Is it merely an immersive virtual reality playground, one that Facebook and other platforms will angle to control? Is it simply the next generation of massive multiplayer online games? Or is it something more revolutionary? As pioneering technologist Herman Narula shows, the metaverse is the latest manifestation of an ancient human tendency: the act of worldbuilding. From the Egyptians, whose conception of death inspired them to build the pyramids, to modern-day sports fans, whose passion for a game inspires extreme behavior, humans have long sought to supplement their day-to-day lives with a rich diversity of alternative experiences. Rooting his vision in history and psychology, Narula argues that humans’ intrinsic need for autonomy, accomplishment, and connection can best be met in virtual “worlds of ideas,” where users have the chance to create and exchange meaning and value. The metaverse is both the growing set of fulfilling digital experiences—ranging from advanced gaming to concerts and other entertainment events and even to virtual employment—and the empowering framework that allows these spaces to become “networks of useful meaning.” Bloomberg Intelligence recently predicted that the metaverse will become an $800 billon industry by 2024. But its implications, argues Narula, will lead to far more awe-inspiring possibilities than a spigot of cash. The arrival of the metaverse marks the beginning of a new age of exploration—not outward, but inward—with the potential to reshape society and open the door to a new understanding of the human species and its capabilities. Rigorously researched and passionately argued, Virtual Society is a provocative and essential guide for anyone who wants to go beyond superficial headlines to understand the true contours and potential of our virtual future.

How the basic concepts of economics—including markets, institutions, and money—can be used to create and analyze economies based on virtual goods. In the twenty-first-century digital world, virtual goods are sold for real money. Digital game players happily pay for avatars, power-ups, and other game items. But behind every virtual sale, there is a virtual economy, simple or complex. In this book, Vili Lehdonvirta and Edward Castronova introduce the basic concepts of economics into the game developer's and game designer's toolkits. Lehdonvirta and Castronova explain how the fundamentals of economics—markets, institutions, and money—can be used to create or analyze economies based on artificially scarce virtual goods. They focus on virtual economies in digital games, but also touch on serious digital currencies such as Bitcoin as well as virtual economies that emerge in social media around points, likes, and followers. The theoretical emphasis is on elementary microeconomic theory, with some discussion of behavioral economics, macroeconomics, sociology of consumption, and other social science theories relevant to economic behavior. Topics include the rational choice model of economic decision making; information goods versus virtual goods; supply, demand, and market equilibrium; monopoly power; setting prices; and externalities. The book will enable developers and designers to create and maintain successful virtual economies, introduce social scientists and policy makers to the power of virtual economies, and provide a useful guide to economic fundamentals for students in other disciplines.

"This book examines the legal realities which are emerging from Massively Multiplayer Online Role-playing Games (MMORPGs) or virtual worlds that demonstrate many of the traits we associate with the Earth world: interpersonal relationships, economic transactions, and organic political institutions"--Provided by publisher.

Virtual goods is one of the most important topics for research, development, and implementation. It has influence on technology, business, and politics. While the discussion on legal aspects is highly political, new technologies are coming up almost daily, such as incentive communication, PDP networks, watermarks, fingerprints, usage control languages, etc. Finally, some business models adopt these new technologies such as the PotatoSystem (one of the basic models for the Virtual Goods Workshop since 2003); others try to utilise DRM in a more effective way, such as the open Mobile alliance, ori tunes. This book presents the latest ideas in the field.

Internet Studies has been one of the most dynamic and rapidly expanding interdisciplinary fields to emerge over the last decade. The Oxford Handbook of Internet Studies has been designed to provide a valuable resource for academics and students in this area, bringing together leading scholarly perspectives on how the Internet has been studied and how the research agenda should be pursued in the future. The Handbook aims to focus on Internet Studies as an emerging field, each chapter seeking to provide a synthesis and critical assessment of the research in a particular area. Topics covered include social perspectives on the technology of the Internet, its role in everyday life and work, implications for communication, power, and influence, and the governance and regulation of the Internet. The Handbook is a landmark in this new interdisciplinary field, not only helping to strengthen research on the key questions, but also shape research, policy, and practice across many disciplines that are finding the Internet and its political, economic, cultural, and other societal implications increasingly central to their own key areas of inquiry.

The concepts of artification and sustainability are now both at the heart of luxury brand marketing strategies; artification as an ongoing process of transformation in the world of art and sustainability as an indispensable response to the issues of our times. The Future of Luxury Brands examines three interrelated luxury-marketing segments—the art world, fashion and fine wines including hospitality services—through the dual lenses of sustainability and artification. From safeguarding human and natural resources to upholding labor rights and protecting the environment, sustainability has taken center stage in consumer consciousness, embodying both moral authority and sound business practices. At the same time, artification—the process by which non-art is reconceived as art—applies the cachet of art to business, affording commercial products the sacred status accorded to works of art. When commercial products enter the realm of aesthetic creation, artification and consumer engagement inevitably increases. This pioneering book examining artification and sustainability as strategic pillars of marketing strategies in the luxury industry will be essential reading for practitioners working in luxury product companies, as also students of luxury brand marketing.

Master's Thesis from the year 2013 in the subject Business economics - Offline Marketing and Online Marketing, grade: 1,3, ESCP Europe, course: Complexity, Ecommerce, Electronic Commerce, E-Satisfaction, Expertise Knowledge, Means-End Chain, Product Search Interfaces, Usability, Virtual Product Advisors, WebQual, Web Site Quality, Search Navigation, language: English, abstract: Consumers nowadays purchase a variety of products in online shops for different reasons. Certain products involve high involvement decision-making with low purchase frequencies in general. At the same time, virtual shelf space is unlimited and consumers face a variety of products, which exceeds their rational capabilities. This condition requires online shop operators to implement search tools in their web sites that allow consumers to structure and reduce complexity, both on a catalogue and a product level. Consumers in general do not always possess product expertise, especially in the case of low frequency purchases such as digital cameras. Virtual product advisors intend to fill this gap. The primary objective of the thesis is to investigate the interaction effect between different levels of consumer knowledge and a chosen product search approach. A special focus is put on a virtual product advisor and a facet search as a structuring tool. Based on theoretical work in marketing, psychology, information system management a set of hypotheses was developed pertaining to the interaction effect and how it affects the perceived quality of the online feature of a product search interface from a consumer perspective. A randomized experiment with a control group design in a live Online Shop was conducted to test the hypotheses. In sum, the findings suggest a contingency between the consumer knowledge and a product search interface in regard of the impact on antecedents of esatisfaction. The results provide two different angles from a marketing perspective in terms of usefulness and from an information system management point of view in terms of usability.

World of Warcraft is the most popular ever MMORPG (massively multiplayer online role playing game), with over twelve million subscribers and growing every day. WoW is everywhere - from episodes of South Park and The Simpsons, to online series like Watch the Guild, accolades and awards from game critics, prime-time commercials with William Shatner and Mr. T., and even criminal and civil courts in the real world. People marry and divorce individuals they have met in the game, realworld financial markets thrive in virtual WoW property, parents have their kids treated' for Warcraft addiction, and real-world lawsuits, vendettas, and murders have been provoked by the game. Since identities are known to be assumed, is it okay to totally misrepresent yourself in the game? Does the Corrupted Blood epidemic warn us of future public health catastrophes? How can it be wrong to steal something which doesn't exist or torture characters who don't feel pain? Is warfare really essential to the world of Warcraft? What can our own world learn from Azeroth's blend of primitivism and high-tech? A specially commissioned guild of philosophers tackle these and other hard questions in World of Warcraft and Philosophy. ''Finally, something Horde and Alliance alike can enjoy! Log off and curl up with World of Warcraft and Philosophy: you'll level up your Intellect for better boasting at your next guild party and cocktail party alike. ''

As the world rapidly moves online, sectors from management, industry, government, and education have broadly begun to virtualize the way people interact and learn. Virtual Learning Environments: Concepts, Methodologies, Tools and Applications is a three-volume compendium of the latest research, case studies, theories, and methodologies within the field of virtual learning environments. As networks get faster, cheaper, safer, and more reliable, their applications grow at a rate that makes it difficult for the typical practitioner to keep abreast. With a wide range of subjects, spanning from authors across the globe and with applications at different levels of education and higher learning, this reference guide serves academics and practitioners alike, indexed and categorized easily for study and application.