Forum for Science, Industry and Business

Sponsored by:     3M 
Search our Site:

 

Virtual economy research project starting at Helsinki Institute for Information Technology

13.12.2007
Helsinki Institute for Information Technology (HIIT) has secured funding and partners for a new research project into "virtual economies": systems where millions of Internet users create and trade virtual items and currencies, often for real money. The project, titled Advanced Virtual Economy Applications (AVEA), begins in January and will continue for 2,5 years.

"We are excited to expand our pioneering research in this area. An increasing amount of time and money is being spent in virtual economies, but many basic questions still remain unanswered," says Marko Turpeinen, director of HIIT's Network Society research program, the project's home.

HIIT's financiers and corporate partners in the project are Nokia Research Center, CCP, Playdo and SWelcom. The majority of funding comes from Finnish technology and innovation funding agency Tekes. Main topics addressed in the project will include measuring economic activity in large-scale virtual economies, virtual asset sales as a revenue model for online services, and virtual economies on mobile and ubiquitous platforms.

"Our agreement with CCP Games enables us to research the economy of EVE Online, an online game with probably the world's biggest virtual economy. This first-of-a-kind cooperation deal between a major MMO operator and an academic research institute is a goldmine for research. HIIT and CCP are uniquely positioned to make use of it with both economists and some of the world's leading data mining experts on board," says researcher Vili Lehdonvirta, founder of the Virtual Economy Research Network website.

The project also studies the emergence of "virtual consumerism" among more casual Internet users, a trend that started in East Asia.

"Selling virtual assets is becoming a viable revenue model for traditional online services like social networking sites. According to our estimate, approximately 2,1 billion US dollars worth of virtual assets were purchased for real money last year," says Lehdonvirta.

HIIT's research partner in the project is Waseda University, Tokyo, Japan.

Marko Turpeinen | alfa
Further information:
http://virtual-economy.org/
http://www.hiit.fi/
http://www.ccpgames.com

All articles from Information Technology >>>

The most recent press releases about innovation >>>

Die letzten 5 Focus-News des innovations-reports im Überblick:

Im Focus: A step towards controlling spin-dependent petahertz electronics by material defects

The operational speed of semiconductors in various electronic and optoelectronic devices is limited to several gigahertz (a billion oscillations per second). This constrains the upper limit of the operational speed of computing. Now researchers from the Max Planck Institute for the Structure and Dynamics of Matter in Hamburg, Germany, and the Indian Institute of Technology in Bombay have explained how these processes can be sped up through the use of light waves and defected solid materials.

Light waves perform several hundred trillion oscillations per second. Hence, it is natural to envision employing light oscillations to drive the electronic...

Im Focus: Freiburg researcher investigate the origins of surface texture

Most natural and artificial surfaces are rough: metals and even glasses that appear smooth to the naked eye can look like jagged mountain ranges under the microscope. There is currently no uniform theory about the origin of this roughness despite it being observed on all scales, from the atomic to the tectonic. Scientists suspect that the rough surface is formed by irreversible plastic deformation that occurs in many processes of mechanical machining of components such as milling.

Prof. Dr. Lars Pastewka from the Simulation group at the Department of Microsystems Engineering at the University of Freiburg and his team have simulated such...

Im Focus: Skyrmions like it hot: Spin structures are controllable even at high temperatures

Investigation of the temperature dependence of the skyrmion Hall effect reveals further insights into possible new data storage devices

The joint research project of Johannes Gutenberg University Mainz (JGU) and the Massachusetts Institute of Technology (MIT) that had previously demonstrated...

Im Focus: Making the internet more energy efficient through systemic optimization

Researchers at Chalmers University of Technology, Sweden, recently completed a 5-year research project looking at how to make fibre optic communications systems more energy efficient. Among their proposals are smart, error-correcting data chip circuits, which they refined to be 10 times less energy consumptive. The project has yielded several scientific articles, in publications including Nature Communications.

Streaming films and music, scrolling through social media, and using cloud-based storage services are everyday activities now.

Im Focus: New synthesis methods enhance 3D chemical space for drug discovery

After helping develop a new approach for organic synthesis -- carbon-hydrogen functionalization -- scientists at Emory University are now showing how this approach may apply to drug discovery. Nature Catalysis published their most recent work -- a streamlined process for making a three-dimensional scaffold of keen interest to the pharmaceutical industry.

"Our tools open up whole new chemical space for potential drug targets," says Huw Davies, Emory professor of organic chemistry and senior author of the paper.

All Focus news of the innovation-report >>>

Anzeige

Anzeige

VideoLinks
Industry & Economy
Event News

70th Lindau Nobel Laureate Meeting: Around 70 Laureates set to meet with young scientists from approx. 100 countries

12.02.2020 | Event News

11th Advanced Battery Power Conference, March 24-25, 2020 in Münster/Germany

16.01.2020 | Event News

Laser Colloquium Hydrogen LKH2: fast and reliable fuel cell manufacturing

15.01.2020 | Event News

 
Latest News

"Make two out of one" - Division of Artificial Cells

19.02.2020 | Life Sciences

High-Performance Computing Center of the University of Stuttgart Receives new Supercomuter "Hawk"

19.02.2020 | Information Technology

A step towards controlling spin-dependent petahertz electronics by material defects

19.02.2020 | Power and Electrical Engineering

VideoLinks
Science & Research
Overview of more VideoLinks >>>