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Stepping into the Internet: Exploring a new world of value- creation RobinTeigland Karinda Rhode in SL Stockholm School of Economics www.knowledgenetworking.org nordicworlds.net Oct 2011
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Stepping into the Internet: Exploring a new world of value-
creation
RobinTeiglandKarinda Rhode in SLStockholm School of Economicswww.knowledgenetworking.orgnordicworlds.net
Oct 2011
• Background• Some of NVWN’s findings
• Questions
“Clearly, if social activity migrates to synthetic worlds, economic activity
will go there as well.” Castronova, 2006
US$ 635,000 for a virtual asteroid!
http://blogs.forbes.com/oliverchiang/2010/11/13/meet-the-man-who-just-made-a-cool-half-million-from-the-sale-of-virtual-property/
• US$ 500,000 profit in 5 years by Jon “Neverdie”
Jacobs• Entropia Universe with GDP
>US$ 440 mln
Some “Nordic” players
International, multidisciplinary team
− Denmark, Finland, Iceland, Norway, Sweden, USA
− Academia, Industry, Public Sector Objectives
− To explore how entrepreneurs and SMEs can use VWs to improve competitiveness
− To create a Virtual Center for VW Entrepreneurship & Innovation
March 2010 to February 2012
Two primary levels of investigation
“Platform business”Providing a platform
for a virtual world
“User business”Using a virtual world for
business purposes
A spectrum of business virtuality
Virtuality
Fully real Fully virtualNO activities conducted in-
world
ALL activities conducted in-
world
Entrepreneur
& RL firm uses
VW technology
as tool Avapreneur &
VW firm part of
VW ecosystem of
economic activ
ity
A spectrum of business virtuality
Virtuality
Fully real Fully virtualNO activities conducted in-
world
ALL activities conducted in-
world
Entrepreneur
& RL firm uses
VW technology
as tool Avapreneur &
VW firm part of
VW ecosystem of
economic activ
ity
VWs as tool for RL firms for design, training,….
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Interested in joining a workshop?
Please register at tiny.cc/t4c or email me at [email protected]
Kohler, Teigland, Giovacchini 2010
…and co-creation
A spectrum of business virtuality
Virtuality
Fully real Fully virtualNO activities conducted in-
world
ALL activities conducted in-
world
Entrepreneur
& RL firm uses
VW technology
as tool Avapreneur &
VW firm part of
VW ecosystem
of economic
activity
BOSL & CO
Web Radio
Beauty Pageant
Lifestyle Magazine
Auditorium
Model Agency
Shopping Mall
Modelling Academy
Lindqvist 2011
Clothes/shoes
MODELLING AGENCIES
Topmodels
Photo-graphers
Photo studio makers
Modelling furniture
Poses and animations
Furniture
HairSkins
Event builders
MAGAZINES
MODELLINGSCHOOLS
Shop builders
Accessories
Body shapes
DJs
Viachka, Giovacchini, Teigland, Lindqvist 2011
Virtual fashion
ecosystem
But few firms span the RL/VW boundary
Virtuality
Fully real Fully virtualNO activities conducted in-
world
ALL activities conducted in-
world
Entrepreneur
& RL firm uses
VW technology
as tool
Avapreneur &
VW firm part of
VW ecosystem
of economic
activity
Why?
Lack of ……economies of scale?
…economies of scope?
Different consumer
groups between RL & VW
https://marketplace.secondlife.com/p/MG-Dungeon-Lord-black-male-coat-outfit-by-Marlene/1447251
Two primary levels of investigation
“Platform business”Providing a platform
for a virtual world
“User business”Using a virtual world for
business purposes
“Opposing” forces: Current business models
limit overall VW industry growth
VW platform provider
s
“Closed”
business
models
SMEs Need for
seamlessness between
VWs
Income model
RL entrepreneurs keeping out…….
“I’m not going to risk my money and
time…..”
“The modeling and simulation technology is
crap…”
But it is only a matter of time….
O’Driscoll 2009
Open source VW platforms growing
OurBricks
Charities bridging RL/VW boundary
Teigland, JVWR, 2010
Core teamMembers
Meetings
$$
“Fashion allowsfor self-identification
and is driver for economic value”
Fashion industry leading the way....
“Entertainment more meaningful than real life”
“Meaningful interactionsbetween real peoplecreates real value”
Eyjólfur Guðmundsson, CCP Games, 2011
Hooker et al 2010
State of flow - Greater purchase intent - Positive brand
attitudes
Stardoll launches JC Penney clothes line
http://socialtimes.com/stardoll-online-fashion-community-launches-jc-penney-clothes-line_b38360
970 mln VW accounts under age 16
http://www.slideshare.net/nicmitham/kzero-universe-q2-2011
My 10 year old cousin is addicted to Stardoll and does not see why I like Facebook since I can only read what
other people send me. For her it is just natural for all her friends to be moving
around the Stardoll website. - Masters student at Stockholm School of
Economics
As soon as the Facebook generation wakes up and embraces virtual reality,
we are going to see a giant wave of virtual world millionaires.-Jon “Neverdie” Jacobs
Tomorrow’s international entrepreneurs?
The rise of Avapreneurs and Born Virtuals?
Leveraging global reach−Microemployees and pro-ams
−Global markets and local market knowledge
Challenging multinational corporations’ traditional resource
advantage?Teigland, JVWR 2010
“Avapreneur” = Avatar + entrepreneur
Pine Jr. & Gilmore 1998, 1999; DiGangi 2010
From the mobility of goods to the mobility of financial capital to …
...the “mobility” of labor?
Karinda Rhode
aka Robin [email protected]
www.knowledgenetworking.org
www.slideshare.net/eteigland
www.nordicworlds.net RobinTeigland
Photo: Lindholm, Metro
Photo: Nordenskiöld
Photo: Lindqvist
“We ain’t seen nothin’ yet!”
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