Title: Emerging Internet Business Models
in
the Virtual Worlds
Abstract: Massively
multiplayer on-line role-playing games (MMORPGs), a computer-simulated
environment
are also called virtual worlds or synthetic worlds and include such
games
as EverQuest, Second Life. These are not only places for escape but
also
markets for trading virtual goods such as magic weapons, virtual lands
etc.
According to BBC news on March 29, 2002, Norrath, a fictional planet in
the
EverQuest universe, has a gross national product per capita of $2,266,
bigger
than China and India. In this study, motivated by the ability to
generate
real revenue from the virtual worlds, the author investigates
businesses
running in the virtual worlds. What are these business models emerging
in
the virtual worlds? Are they any different from those of the real
world?
What influence might they have on shaping business models in the
future?
What kind of business model will most likely be flourishing in the
computer-simulated
environment? By applying the Internet Business Graph Analysis Models
(IBGAM)
to analyze businesses running in the virtual worlds, the author found
the
following preliminary results: (1) The graph business models for the
virtual
world’s businesses are hybrid business models which are made up of a
combination
of at least two of the three basic BGAM building blocks, Indirect
Model(IM),
Direct Exchange Model(DEM), or Gift Model(GM).(2) All these hybrid
graph
business models studied contain one Type I IM as a portion inside the
real
world.(3) The graph business models for businesses which are able to
generate
revenues must have at least one DM for currency exchange which exists
between
the real world and the virtual world.(4) The trading activities inside
the
virtual worlds are still limited to simple Direct Exchange Model or
Gift
Model.
Author: Chiou-Pirng
Wang