Virtual Goods and Real Value

Filed in archive Online Commerce on June 19, 2009

Have you paid money recently for a new outfit for your Second Life avatar? Or to send a friend a teddy bear on Hi5? We talked not long ago about virtual currencies. Now VentureBeat has an article out on virtual goods. And they say that while the actual good might not be "real," their value better be...

We buy this detergent because it'll clean dishes more efficiently and that overstuffed chair because it's comfortable and looks great in the living room. We buy ridiculously huge stuffed animals because their comical appearance makes us happy with laughter, and we buy $7,000 electronic gadgets and $400,000 cars to make a statement about our wealth and status.

Inside of a game, that mentality doesn't change. Whether we're purchasing real, tangible objects or virtual, pixellated images, the driving question behind whether or not we pull out our wallet is the same- what will this do for me?

The cost of virtual goods can be relatively low. How much overhead is involved in a virtual teddy bear once it's been designed? I don't expect to eat a virtual steak any time soon, or start getting to my day job in a virtual car. But the potential for attracting buyers to virtual goods goes up everytimes someone registered for Facebook or Twitter.

What is your avatar whearing thses days?