Posted by Jeremiah K. Owyang on November 16, 2007
[Posted by Jeremiah Owyang]
My Home is my playground: Identity and Identification in the Internet
Presentation by Lars Schwenk, Managing Director of Cyworld EMEA
There are four parts to a community: Communication, Collaboration, Self-Expression, and Peeping. Bars are the original community. Cyworld is about sponsoring, not advertising. Users buy items to self express themselves. Created a online event for an art festival called "Bright". Brands can create your own branded virtual items and let users in Cyworld use it. Self expression with identities is what Cyworld is all about. Are social networks killing themselves from too much advertising? People are willing to pay for digital items, or for sponsored environments rather than advertising. Currently adoption of virtual goods is 4% but could grow to 40%, there's a change happening.