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Virtual Goods & Revenue Sources

CIM 200 Research Presentation on the economics of virtual goods

Brandon Wright

on 15 May 2012

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Transcript of Virtual Goods & Revenue Sources

virtual goods &
commercial possibilities Let's kick things off with:
What are Virtual Goods? they are digitally created,
intangible goods MP3s literature digital artwork animations movies graphic design sound files music files short stories novels Although typically a virtual good is created with the intent to be used within a virtual environment . . . If you create something digitally, chances are there is a place for it as a virtual product. economies for virtual goods have existed for years, wherever users have attached real value to something that is, by nature, intangible. world of warcraft you can purchase:
character advancement second life has utilized the potential of virtual goods, and
uses them as a commodity established a virtual community that is focused
on the trading, acquisition, and selling of virtual goods created the lindex - an exchange system to
convert in-world currency (linden) to US Dollars tangible goods are governed by their scarcity;
intangible goods are governed by their abdunance. When four people share a pizza, they divide it equally.
those same four people when sharing an MP3 file each have a full copy. virtual goods are not bound by the same rules of supply and demand, due to the fact they can be copied and distributed freely and quickly. because they can be copied so easily, those interested in claiming restricted ownership over content are concerned with how to protect their investments. This is where copyright steps in Copyright is the protection of an artist's creation, so that others may not profit from the potential success of the creator. . . or at least that's what publishers would have you believe. But let's trace copyright back to its origins and reveal it for what it is: . . . back to Today the Internet is also doing something that the
Stationer's guild never anticipated. . . it is giving authors the means
to distribute their own works. Creative commons
licenses "Work to increase the amount of creativity (cultural, educational, and scientific) in 'the commons' - the body of work that is available to the public for free and legal sharing, use, repurposing, and remixing." nina paley released her movie, "Sita Sings the blues" for free, using
a Creative Commons Share-alike license. creates endorsement deals with distributors to receive a
percentage of the sales of each of the "containers" for sita. "containers" are any tangible object that contains
the imagery of the film, or the film itself. has made a large sum of profit simply from donations from
supporters and fans of the film trent reznor released the album "ghosts i-iv" using a Creative Commons license gave the first disc away for free as a digital download
offered tiered downloads, ranging from $5 to $20
offered a premium, limited run (2500) box set for $300 the album became the #1 top seller on amazon.com later released "the slip" under the same license, which lead to
a completely sold-out tour threshold pledge artists appeal to their audience upfront to pool together the costs of production they then release their product to the world, absolutely free essentially this method is a time-shift for monies, where paying for the goods
occurs before they are developed rather than after. Virtual goods clearly have a place in today's age.

content creators can freely release their works without dealing
with the corporate and monstrous copyright, despite what some
distributors and publishers will try to convince you of.

using unique methods of revenue, it's possible for creators to
find the funding and income necessary to find a place in the
economic worlds of the virtual space while copyright will likely never be completely abolished, I believe
that we may see a future where content creators have the option to
return to a patron system, where authors, artists, musicians and the like
can find means of making a living, thanks to the donations and
patronages of their fans, supporters, and the consumers of their art. as I'm personally interested in this subject, I plan to follow up on
this research by combining the funding potential of a threshold pledge
with the freedom awarded by the creative commons licenses in my own
digital and virtual creations. to help kick that off, I'll be posting a very quick,
brief poll on this topic sometime soon on Twitter. if you are interested, I
would appreciate your feedback. Thanks! a system of control that benefits publishers, not authors. Copyright: 16th century
London the printing press is an emerging new technology that
has the potential to let writers reach a mass audience. Fearing the potential for widespread seditious materials,
the crown decides to censor the ability the print this is accomplished by creating the London Company of
Stationers, a guild granted the monopoly on the right to
print on stationary Not only does the Stationers guild control what is
printed, but they are allowed to burn books that pose
a threat to country or their station Authors whose works were accepted had them
entered into a registrar through a given company.
That company held the "right to copy" that work. This system worked for a little over a century,
when political changes in London caused the crown
to allow the Stationer guild's monopoly to expire. Comfortable in their positions, and not wanting
to surrender their wealth or control over print, the
Stationers devised a plan. . . They proposed a radical idea: that authors held
the rights to their own creations, and could then
trade or grant that right to others. They did this anticipating (correctly) that authors would
be reliant on the printers to distribute their works, and
would ultimately sign over the copyrights right back
to the companies. All of this was due to a single underlying belief which, at the time, held true. . . Authors lacked the means to distribute their own works. This concept has stood the test of the time as the core reason behind the need for copyright. That is, until recently. today, copyright works to restrict content creators in
two predominant ways: DRM DMCA - Mandy salomon Digital Rights Management the restriction based upon digital content that forbids the user
to access the product in a means not sanctioned by the
distributor of the goods. digital millennium copyright act & anti-counterfeiting trade agreement (ACTA) laws that enable rights holders to force online service providers
(ISP's, YouTube, deviantart, secondlife) to remove or shut down
access to content they claim has been illegally displayed. however. . . Brandon Wright a great example of this are MMO's
(Massively Multiplayer Online Games)

such as...
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