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Industry Profile : Online Virtual World

Industry Profile : Online Virtual World. Chao-Yin (Joanne) Wu MBA/MS-MIS Candidate Joseph M.Katz Graduate School of Business University of Pittsburgh. Definition.

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Industry Profile : Online Virtual World

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  1. Industry Profile: Online Virtual World Chao-Yin (Joanne) Wu MBA/MS-MIS Candidate Joseph M.Katz Graduate School of Business University of Pittsburgh

  2. Definition A computer-based simulated environment intended for its users to inhabit and interact via avatars. Some, but not all, virtual worlds allow for multiple users. The world being computer-simulated typically appears similar to the real world, with real world rules such as gravity, topography, locomotion, real-time actions, and communication. Communication has, until recently, been in the form of text, but now real-time voice communication using VOIP is available.

  3. Market Size • Screen Digest has found that the market value for massively multiplayer online games in the West hit $1bn for the first time in 2006. The North American subscription market was worth $576m, while Europe was worth $299m. • Screen Digest forecasts that by 2011 over 10 million subscription accounts will generate $1.5bn in consumer spending on this growing sector of the online games market. Over the forecast period Europe will enjoy the strongest growth between the two Western regions.

  4. Competition

  5. Industry Leader - Second Life • Features • Entertainment (Game) • Social Networking / Community gathering • Embedded Market • Available Talent Pool • Global Presence • Population

  6. Potential application- Second Life • Training Course: Harvard Law School • Distribution Channel: American Appeal, Dell • Economic Statistic Second Life has its own economy and a currency referred to as Linden Dollars (L$). Residents regularly create new goods and services, and buy and sell them in the Second Life virtual world

  7. Issues for Online Virtual World • Infrastructure Requirement • Stability of System • Easy of Use • Collaboration • Innovative and Creativity • Customer Relationship

  8. The future of Virtual World • The issues of real money trading (RMT) will need to be take care of for future operation of virtual world and need to consider by business people. How can business people use this tool to expand their business, increase cash flow and how can virtual world operator to cooperate with these businesses to create the attractiveness for users.

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