Entrepreneurshipin Virtual Worlds    November 2011  www.nordicworlds.net
Programme   10:30 Welcome and Presentation     − Virtual Worlds: Just a game or what?   11:00 Presentation of a Pan-Nord...
Virtual Worlds:   Just a game or what?Entrepreneurship in Virtual Worlds           November 2011
...when the rate of changeoutside an organization is  greater than the rate of      change inside,    the end is near........
Social Media Increase in integration and rapidly more interactivity Characterised by user participation, openness, and  ...
Social mediaDefinition   Internet-based applications that             build on the ideological and             technologic...
Drivers of change                        Interactivity                         Increased                    DiGangi 2010
Types of Social Media                                            Social Presence/ Media Richness                          ...
What are Virtual Worlds?  •Persistent, computer-simulated, 3D immersive environments              •Shared space/interactiv...
Tomorrow’s education?Mahaley & Teigland 2009, http://bit.ly/rUMfcO
3D Avatar SchoolFlåten & Hansen 2011
VWs moving out of “Gartner Hype Cycle” trough                                                                   >1.2 bln  ...
970 mln VW accounts under age 16http://www.slideshare.net/nicmitham/kzero-universe-q2-2011   Teigland 2011
“Clearly, if social activity migrates to      synthetic worlds, economic activity             will go there as well.”     ...
Pay through PayPal           and have delivered to any virtual world                                   http://www.totalava...
US$ 635,000 for a virtual asteroid!      •US$ 500,000 profit in 5 years         by Jon “Neverdie” Jacobs       •Entropia U...
HP rolls out virtual banking                     with Avaya’s Web.alivehttp://www.hypergridbusiness.com/2011/04/hp-rolls-o...
Virtual CollaborationMerck’s Global R&D                                        IBM’s Innovation Jam                     We...
Increasing pace of VW/3Di development                                                                For smart         "Cr...
2http://www.slideshare.net/helgetenno/post-digital-marketing-2009
Moving into the Experience EconomyPine Jr. & Gilmore 1998, 1999; DiGangi 2010
- Greater purchase intent          State of flow                                   - Positive brand attitudesHooker et al ...
“   Armed with new connective tools,                            „       consumers want to interact and       co-create val...
Exploring VW affordancesTeigland et al 2010
As soon as the Facebook                  generation wakes up and                embraces virtual reality, we are          ...
Some“Nordic” players
 International, multidisciplinary team  −   Denmark, Finland, Iceland, Norway, Sweden, USA  −   Academia, Industry, Publi...
Two primary levels of investigation           “User business”       Using a virtual world for          business purposes  ...
A spectrum of business virtuality                   Virtuality Fully real                        Fully virtual NO activiti...
A spectrum of business virtuality                   Virtuality Fully real                        Fully virtual NO activiti...
VWs as tool for RL firms for design, training,….
…and co-creation                                     35Kohler, Teigland, Giovacchini 2010
A spectrum of business virtuality                   Virtuality Fully real                        Fully virtual NO activiti...
Lifestyle               Beauty      Magazine                Pageant                  BOSL Model                           ...
Event                 DJs                                          builders                                               ...
But few firms span the RL/VW boundary                 Virtuality Fully real                    Fully virtual NO activities...
Why? Differentconsumer                                        Lack of …  groups                                   …economi...
Two primary levels of investigation          “User business”      Using a virtual world for         business purposes     ...
“Opposing” forces:        Current business models    limit overall VW industry growth   VWplatform                        ...
Income Model Income model
RL entrepreneurs keeping out…….                            “The modeling and simulation                                tec...
But it is only a matter of time….O’Driscoll 2009
Open source VW platforms growing                           OurBricks
Charities bridging RL/VW boundary                   Members             Core team                    Meetings             ...
Fashion industry leading the way....     “Entertainment more    meaningful than real life”                       “Meaningf...
Stardoll launches JC Penney clothes linehttp://socialtimes.com/stardoll-online-fashion-community-launches-jc-penney-clothe...
970 mln VW accounts under age 16http://www.slideshare.net/nicmitham/kzero-universe-q2-2011
My 10 year old cousin is addicted to  Stardoll and doesn’t see why I like Facebook since I can only read whatother people ...
Tomorrow’s international entrepreneurs?
The rise of Avapreneurs and Born Virtuals?            “Avapreneur” = Avatar + entrepreneur                      Leveraging...
Pine Jr. & Gilmore 1998, 1999; DiGangi 2010
From the mobility of goodsto the mobility of financial capital to …     ...the “mobility” of labor?
“We ain’t seen nothin’ yet!”                                              Karinda Rhode  Photo: Lindholm, Metro           ...
Programme   10:30 Welcome and Presentation     − Virtual Worlds: Just a game or what?   11:00 Presentation of a Pan-Nord...
Entrepreneurship in virtual worlds nov3
Entrepreneurship in virtual worlds nov3
Entrepreneurship in virtual worlds nov3
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Slides from Seminar on entrepreneurship in Virtual worlds in Nov 2011: http://nordicworlds.net/2011/10/31/seminar-on-entrepreneurship-in-virtual-worlds-november-3/.

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  • http://www.youtube.com/watch?v=0CijdlYOSPcWhile many definitions of VWs, these are the characteristics that I find relevant to the study of virtual entrepreneurship. Persistent, computer-simulated, immersive environments ranging from 2D "cartoon" imagery to more immersive 3D environmentworld exists regardless of whether users logged inUsers can manipulate and/or alter existing content or even create customized content Shared space or co-presencenumerous users, or ‘avatars’, simultaneously participate, interact, and share experiences through gestures, text chat, and voiceSocialization/community formation of in-world social groups such as teams, guilds, clubs, cliques, housemates, neighborhoods, etc the world allowed and encouraged
  • Virtual teaming skills…possibilities for collaboration, knowledge sharing, problem solving across geographical space.Educators can create and run simulations in an easy manner…Show video for 1min30sec
  • http://www.readwriteweb.com/archives/number_of_virtual_world_users_breaks_the_1_billion.phpWhat are the 5 phases of a Hype Cycle?1. "Technology Trigger"The first phase of a Hype Cycle is the "technology trigger" or breakthrough, product launch or other event that generates significant press and interest. 2. "Peak of Inflated Expectations"In the next phase, a frenzy of publicity typically generates over-enthusiasm and unrealistic expectations. There may be some successful applications of a technology, but there are typically more failures. 3. "Trough of Disillusionment"Technologies enter the "trough of disillusionment" because they fail to meet expectations and quickly become unfashionable. Consequently, the press usually abandons the topic and the technology. 4. "Slope of Enlightenment"Although the press may have stopped covering the technology, some businesses continue through the "slope of enlightenment" and experiment to understand the benefits and practical application of the technology. 5. "Plateau of Productivity"A technology reaches the "plateau of productivity" as the benefits of it become widely demonstrated and accepted. The technology becomes increasingly stable and evolves in second and third generations. The final height of the plateau varies according to whether the technology is broadly applicable or benefits only a niche market.Virtual worlds have reached a stage where new users continue to build, even though the media has moved on to fan the fires of Facebook and Twitter, says Douglas Thompson, CEO of Remedy Communications, a Toronto marketing firm. Second Life says the time spent on the site by users increased 21 percent in 2009. Most paying customers on Second Life are purely social, but it still boasts 1,400 business-related organizations as users. Thompson says traffic on Metanomics, his company’s Second Life video presence, has picked up in the past year, with 50 percent of new users coming from small or medium-size companies. “People no longer ask what an avatar is,” says Thompson. “We can thank Jim Cameron for that.”Read more: Entrepreneurs Doing Business by Avatar - Personal Finance - Employment - SmartMoney.comhttp://www.smartmoney.com/Personal-Finance/Employment/Entrepreneurs-Doing-Business-by-Avatar/#ixzz0pp1H6D7N
  • RT: traditional leadership further challenged as we move to a world of web 3.0 or the immersive internet…http://www.youtube.com/watch?v=-ahqjBeknT0
  • Brings personalized, human interaction to the self-service channel. Bank staff and customers connect in real time, presenting an engaging virtual experience. Collaborative voice-video sessions can be used to walk customers through complex requests. Such interactivity appeals to today’s “always on” customer, while helping banks address staffing issues and the need for greater efficiencies in a world beyond phone-based customer service. With an integrated strategy, banks can maximize email, video, text and even social media channels.
  • http://www.hypergridbusiness.com/2009/05/hypergrid-101-why-its-good-for-business/http://mediagrid.org/groups/technology/OFF.TWG/http://www.youtube.com/watch?v=0ZReLlmr-8k&tracker=False&hd=1Companies still active in sl - http://danielvoyagerblog.wordpress.com/2011/03/24/active-rl-companies-that-have-a-presence-in-sl-2011/Air FranceABCAmazon AMDAmerican Cancer SocietyCNNCisco SystemsDellIBMKelly ServicesNokiaManpowerPhilipsPress DispensarySiemens Innovation Connection
  • As modeling and simulation technology improves, more and more real world items will be successfully designed in collaborative spaces that can be leveraged both by corporations and ad hoc groups. -Cory Ondrejka
  • B2C
  • As modeling and simulation technology improves, more and more real world items will be successfully designed in collaborative spaces that can be leveraged both by corporations and ad hoc groups. -Cory OndrejkaPicture creditshttp://ncfp.wordpress.com/category/adaptive-management/page/2/http://www.motorship.com/news101/new-version-of-cadcam-software-released
  • RT: the 3D internet characterized by ….(next slide)
  • Yet no critical mass
  • http://journals.tdl.org/jvwr/article/view/866
  • GöranLindqvist, 2011A virtual world affords immersion and interactionImmersion and interaction leads to identification with the avatarIdentification gives an avatar a persona, with wishes, aspirations, likes and dislikesAn avatar with a persona will engage in consumption and entrepreneurship – to the extent that the virtual world allows ithttp://tinasuniversum.blogspot.com/2011/03/var-svenska-model-madeleine-dollinger.html
  • As modeling and simulation technology improves, more and more real world items will be successfully designed in collaborative spaces that can be leveraged both by corporations and ad hoc groups. -Cory Ondrejka
  • http://journals.tdl.org/jvwr/article/view/866
  • Entrepreneurship in virtual worlds nov3

    1. 1. Entrepreneurshipin Virtual Worlds November 2011 www.nordicworlds.net
    2. 2. Programme 10:30 Welcome and Presentation − Virtual Worlds: Just a game or what? 11:00 Presentation of a Pan-Nordic Research Project − Professor Robin Teigland (Stockholm School of Economics, UiA) presents the project “NVWN - The Nordic Virtual Worlds Network”Showcases 11:30 RunAlong − Entrepreneur Heidi Harman presents her experiences with the running initiative, RunAlong in Second Life 11:45 Virtex − Founder Sverre Lunøe-Nielsen presents Virtex, a company developing software applications for interactive data visualization 12:00 ICYou Group − Project Manager Serdar Temiz presents ICYou, a company that develops interactive media platforms 12:15 Lunch
    3. 3. Virtual Worlds: Just a game or what?Entrepreneurship in Virtual Worlds November 2011
    4. 4. ...when the rate of changeoutside an organization is greater than the rate of change inside, the end is near...... Jack Welch
    5. 5. Social Media Increase in integration and rapidly more interactivity Characterised by user participation, openness, and network effects (Musser and O’Reilly, 2006) 7
    6. 6. Social mediaDefinition Internet-based applications that build on the ideological and technological foundations of Web 2.0, and that allow the creation and exchange of user generated content (Kaplan & Haenlein, 2011)
    7. 7. Drivers of change Interactivity Increased DiGangi 2010
    8. 8. Types of Social Media Social Presence/ Media Richness Low Medium High High Blogs Social Networking Virtual Social Sites Worlds Self-disclosure presentation/ Low Collaborative Content Virtual Game Projects Communities Worlds Self-Shneor 2011, Kaplan & Haenlein 2011
    9. 9. What are Virtual Worlds? •Persistent, computer-simulated, 3D immersive environments •Shared space/interactivity with others •In some cases, ability to manipulate/create content •In some cases, virtual economy and currencyTeigland 2010
    10. 10. Tomorrow’s education?Mahaley & Teigland 2009, http://bit.ly/rUMfcO
    11. 11. 3D Avatar SchoolFlåten & Hansen 2011
    12. 12. VWs moving out of “Gartner Hype Cycle” trough >1.2 bln Virtual users May 2006 Worlds today July 2007http://www.gartner.com/it/page.jsp?id=1447613 Teigland 2011
    13. 13. 970 mln VW accounts under age 16http://www.slideshare.net/nicmitham/kzero-universe-q2-2011 Teigland 2011
    14. 14. “Clearly, if social activity migrates to synthetic worlds, economic activity will go there as well.” Castronova, 2006Teigland 2011
    15. 15. Pay through PayPal and have delivered to any virtual world http://www.totalavatarshop.comTeigland 2011
    16. 16. US$ 635,000 for a virtual asteroid! •US$ 500,000 profit in 5 years by Jon “Neverdie” Jacobs •Entropia Universe with GDP >US$ 440 mln http://blogs.forbes.com/oliverchiang/2010/11/13/meet-the-man-who-Teigland 2011 just-made-a-cool-half-million-from-the-sale-of-virtual-property/
    17. 17. HP rolls out virtual banking with Avaya’s Web.alivehttp://www.hypergridbusiness.com/2011/04/hp-rolls-out-virtual-banking-with-avayas-web-alive/ Teigland 2011
    18. 18. Virtual CollaborationMerck’s Global R&D IBM’s Innovation Jam Welch et al 2010 Teigland 2011
    19. 19. Increasing pace of VW/3Di development For smart "Create Once, phones and Experience tablet PCs Everywhere” Expanding uses VWs on stick Seamlessness Browser-based between VWs VWs/hyperlinked 3Dhttp://www.hypergridbusiness.com/2009/05/hypergrid-101-why-its-good-for-business/http://mediagrid.org/groups/technology/OFF.TWG/ Teigland 2011
    20. 20. 2http://www.slideshare.net/helgetenno/post-digital-marketing-2009
    21. 21. Moving into the Experience EconomyPine Jr. & Gilmore 1998, 1999; DiGangi 2010
    22. 22. - Greater purchase intent State of flow - Positive brand attitudesHooker et al 2010, Teigland 2011
    23. 23. “ Armed with new connective tools, „ consumers want to interact and co-create value... Prahalad and Ramaswamy, 2003Slide from Kohler 2011
    24. 24. Exploring VW affordancesTeigland et al 2010
    25. 25. 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” JacobsTeigland 2011
    26. 26. Some“Nordic” players
    27. 27.  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
    28. 28. Two primary levels of investigation “User business” Using a virtual world for business purposes “Platform business” Providing a platform for a virtual world
    29. 29. A spectrum of business virtuality Virtuality Fully real Fully virtual NO activities ALL activitiesconducted in- conducted in- world world
    30. 30. A spectrum of business virtuality Virtuality Fully real Fully virtual NO activities ALL activitiesconducted in- conducted in- world world
    31. 31. VWs as tool for RL firms for design, training,….
    32. 32. …and co-creation 35Kohler, Teigland, Giovacchini 2010
    33. 33. A spectrum of business virtuality Virtuality Fully real Fully virtual NO activities ALL activitiesconducted in- conducted in- world world
    34. 34. Lifestyle Beauty Magazine Pageant BOSL Model Shopping Agency & CO MallModelling AuditoriumAcademy Web Radio Lindqvist 2011
    35. 35. Event DJs builders MODELLING MODELLING Photo SCHOOLS studio AGENCIES makers Photo- Modelling graphers Top furniture models MAGAZINES Virtual Poses and animations fashion ecosystem Clothes/ Furniture shoes Accessories Skins Hair Body Shop builders shapesViachka, Giovacchini, Teigland, Lindqvist 2011
    36. 36. But few firms span the RL/VW boundary Virtuality Fully real Fully virtual NO activities ALL activitiesconducted in- conducted in- world world
    37. 37. Why? Differentconsumer Lack of … groups …economies of scale? between …economies of scope?RL & VW https://marketplace.secondlife.com/p/MG-Dungeon-Lord-black-male-coat-outfit-by-Marlene/1447251
    38. 38. Two primary levels of investigation “User business” Using a virtual world for business purposes “Platform business” Providing a platform for a virtual world
    39. 39. “Opposing” forces: Current business models limit overall VW industry growth VWplatform SMEsproviders Need for seamlessness“Closed” between VWsbusiness models
    40. 40. Income Model Income model
    41. 41. RL entrepreneurs keeping out……. “The modeling and simulation technology is crap…”“I’m not going to risk my money and time…..”
    42. 42. But it is only a matter of time….O’Driscoll 2009
    43. 43. Open source VW platforms growing OurBricks
    44. 44. Charities bridging RL/VW boundary Members Core team Meetings $$Teigland 2010
    45. 45. Fashion industry leading the way.... “Entertainment more meaningful than real life” “Meaningful interactions between real people creates real value” “Fashion allows for self-identification and is driver for economic value”Eyjólfur Guðmundsson, CCP Games, 2011
    46. 46. Stardoll launches JC Penney clothes linehttp://socialtimes.com/stardoll-online-fashion-community-launches-jc-penney-clothes-line_b38360
    47. 47. 970 mln VW accounts under age 16http://www.slideshare.net/nicmitham/kzero-universe-q2-2011
    48. 48. My 10 year old cousin is addicted to Stardoll and doesn’t see why I like Facebook since I can only read whatother people send me. For her it is justnatural for all her friends to be moving around the Stardoll website.- Masters Student atStockholm School of Economics
    49. 49. Tomorrow’s international entrepreneurs?
    50. 50. The rise of Avapreneurs and Born Virtuals? “Avapreneur” = Avatar + entrepreneur Leveraging global reach − Microemployees and pro-ams − Global markets and local market knowledge Challenging multinational corporations’ traditional resource advantage?Teigland 2010
    51. 51. Pine Jr. & Gilmore 1998, 1999; DiGangi 2010
    52. 52. From the mobility of goodsto the mobility of financial capital to … ...the “mobility” of labor?
    53. 53. “We ain’t seen nothin’ yet!” Karinda Rhode Photo: Lindholm, Metro aka Robin Teigland robin.teigland@hhs.sePhoto:Nordenskiöld www.knowledgenetworking.org www.slideshare.net/eteigland www.nordicworlds.net RobinTeigland Photo: Lindqvist
    54. 54. Programme 10:30 Welcome and Presentation − Virtual Worlds: Just a game or what? 11:00 Presentation of a Pan-Nordic Research Project − Professor Robin Teigland (Stockholm School of Economics, UiA) presents the project “NVWN - The Nordic Virtual Worlds Network”Showcases 11:30 RunAlong − Entrepreneur Heidi Harman presents her experiences with the running initiative, RunAlong in Second Life 11:45 Virtex − Founder Sverre Lunøe-Nielsen presents Virtex, a company developing software applications for interactive data visualization 12:00 ICYou Group − Project Manager Serdar Temiz presents ICYou, a company that develops interactive media platforms 12:15 Lunch

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