Virtual Goods Are Strangely Profitable Despite Economy
Holger Mohr — January 14, 2009 — Tech
References: gameforge.de & zeit.de
Virtual goods are selling very well; the sales are growing, even in this time of economic crisis.
In years before when virtual worlds were considered an entertainment phenomenon for geeks and nerds, most people thought spending real money on virtual weapons was ridiculous. These days, spending money for graphic art commodities is widely embraced, and it doesn’t seem far-fetched to send virtual presents like flowers on social networking platforms like Facebook.
Analysts estimated the market grew from 500,000 billion euros in 2007 to about 1.5 billion euros in 2008.
German company GameForge has proven very successful in this business; they are a market leader in Massive Multiplayer Online Games (MMOGs); Meltin and Gladiatus are 2 of their top hits.
GameForge sales increased by 350% in 2008; they won many awards, including the highly reputed “Technology Pioneer 2009” award.
The games require internet access in order for thousands of gamers to play together. GameForge has around a dozen of these games in more than 50 languages. A chat room is integrated into most of these games.
GameForge has over 65 million users worldwide and about 250,000 new ones each day.
Part of their goal is to acquire virtual goods; the more fun they want to have, the more they buy, the more they spend. Seafight.com, for example, requires players to purchase new weapons to stock aboard their pirate ships.
In years before when virtual worlds were considered an entertainment phenomenon for geeks and nerds, most people thought spending real money on virtual weapons was ridiculous. These days, spending money for graphic art commodities is widely embraced, and it doesn’t seem far-fetched to send virtual presents like flowers on social networking platforms like Facebook.
Analysts estimated the market grew from 500,000 billion euros in 2007 to about 1.5 billion euros in 2008.
German company GameForge has proven very successful in this business; they are a market leader in Massive Multiplayer Online Games (MMOGs); Meltin and Gladiatus are 2 of their top hits.
GameForge sales increased by 350% in 2008; they won many awards, including the highly reputed “Technology Pioneer 2009” award.
The games require internet access in order for thousands of gamers to play together. GameForge has around a dozen of these games in more than 50 languages. A chat room is integrated into most of these games.
GameForge has over 65 million users worldwide and about 250,000 new ones each day.
Part of their goal is to acquire virtual goods; the more fun they want to have, the more they buy, the more they spend. Seafight.com, for example, requires players to purchase new weapons to stock aboard their pirate ships.
Trend Themes
1. Virtual Goods Sales - Virtual goods are an emerging market, with sales growing even during an economic crisis, presenting an opportunity for businesses to enter the industry.
2. Massive Multiplayer Online Games - Massive Multiplayer Online Games (MMOGs) have seen a significant increase in popularity, creating an opportunity for businesses to develop or invest in these types of games.
3. Social Networking Platforms - Social networking platforms like Facebook are becoming a new avenue for purchasing virtual goods and sending virtual presents, presenting an opportunity for businesses to explore this market.
Industry Implications
1. Gaming Industry - The gaming industry is experiencing growth in virtual goods sales and MMOGs, creating an opportunity for businesses to invest or develop new games.
2. E-commerce Industry - Virtual goods sales on social networking platforms like Facebook have created opportunities for e-commerce businesses to enter this market and provide more options for consumers.
3. Digital Art Industry - As more consumers purchase virtual graphic art commodities, there is an opportunity for businesses in the digital art industry to provide new and innovative designs.
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