Virtual Economy

Interesting article (opened my eyes) about how far this virtual goods thing had gone. 

Apparently, the top social network by revenue is Tencent (China) .. yeah, not facebook, not myspace. They did around $1B in revenues this year. But here's the best part, 70% of this came from VIRTUAL GOODS (only 12% came from advertising).  The only instance when I came across a the concept of paying for a 'virtual good' was when I was playing poker on facebook. They tried to sell me like a million chips for $2 - bad deal I thought. But far too many people are making small ticket purchase like virtual clothes for their secondlife avatars.