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Today we announced that Best Buy and Future Shop are consolidating as Best Buy. This means the products, services, and features you have come to expect from Future Shop and FutureShop.ca will now be available at Best Buy and BestBuy.ca. We have plans to invest up to $200 million to build a leading multi-channel customer experience on the Best Buy brand.

Visit futureshop.ca for more details & click here to learn more about what this means for the Tech Yeah Community.

Spending good money on nothing, it’s not a new concept.

by Retired Blogger on ‎09-28-2010 11:59 AM - last edited on ‎05-02-2012 07:33 PM by Retired Moderator

Disclosure: I’m involved with an organization that has virtual goods and currency  -- and yes, you can exchange real money for virtual goods in it.

fv_250.jpgThe virtual economy is heating up. GigaOm reports that Facebook Could Make $250M From Virtual Goods Next Year; make money from stuff that isn’t tangible. Stuff you can’t hold in your hands. Yet, the concept of virtual isn’t really new, it’s really just a new label applied to an ancient concept.

It is kind of interesting, when you think of it. For the vast majority of human history, ideas used to be the only type of non-physical ‘object’ that people would pay money for -- ideas manifested as stories, concepts, music, inventions, etc.

Someone had to come up with the idea. And if it was good, then someone paid for that idea.

Then, the idea had to be transformed into reality -- a play, a symphony, a building perhaps. The idea becomes physical (for a short time if you’re witnessing a performance). But still you have the physical manifestation of something created in the mind of someone.

Today, we have the virtual manifestation of ideas. Virtual in that when they manifest, they exist only in the medium they were designed for -- a Farmville farm lovingly tended and nurtured by someone using a keyboard and mouse. Or an Elvish Archer who’s virtual skills and abilities have been carefully selected and honed.

Today’s virtual goods economy is wonderful, exciting, and offers huge new opportunities that didn’t exist before -- from the swetshop goldfarmer to the (mobile-device-app-store) developer-- doing work that has no physical manifestation can be both a pastime and a career.

But it shouldn’t surprise us that people and organizations can make money in this way -- because we’ve been doing it for thousands of years. Only this medium is new.

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