Thursday, February 19, 2009
STARTUP WATCH: virtual land ownership
Its worth tracking this new startup. Whatsyourplace.com is following in the footsteps of virtual worlds MMO's and micro economies by selling virtual goods. This has a nice twist as its basically mirrors the real world and its not goods its land.
So will people be compelled to virtually own land and will it become more valuable over time?
To start with people will want to own land for bragging rights and well if you can't own something for real virtually is the next best thing right? Once you get on the site and look at the Google maps it becomes very appealing that suddenly I could buy the shopping center in downtown San Diego (first place I landed) After the initial buzz long term there needs to be this physiologically driven reason that there has to be an impact on others for me to buy this Shopping center.
What we must keep an eye on is how this could evolve, with the right strategy to market this could do really well and become a great contextual advertising machine. For this to work they must provide visibility of ownership. John needs to see that sally owns a ranch in Texas without having to first go to the site it needs to be propagated in everyday life. John needs it to pop up on facebook, via an e-card or some other form that's viral. If a community can develop around this it could become a game, and one that could be a lot of fun....lets see if they get it right.
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