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[clapping]
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I love video games. I'm also slightly
in awe of them
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I am in awe of their power
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In terms of imagination,
in terms of technology
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in terms of concept
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but I think above all
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I am in awe of their
power to motivate, to compel us
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To transfix us
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Like really nothing else
we ever have at this point done before
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And I think that we can learn some
pretty amazing things
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By looking at how they do this
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And in a particular thing
we can learn things about learning
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Now, the videogames industry
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is far in the away the
fastest growing
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of all modern media
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From about 10 billion in 1990
it's worth
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50 billion dollars globally today
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And it shows no sign of slowing down
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Just in 4 years time, it's estimated
it will be worth over 80 billion dollars
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That's about three times
the recording music industry
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This is pretty stunning
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But I don't think it's the most
telling statistics of all
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The thing that really amazes me
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Is that today, people spend
about 8 billion real dollars a year
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By virtual items that only exist
inside videogames
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This is a screenshot of a virtual game
world in Entropia Universe
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Earlier this year
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A virtual astroid sold for
330 thousand real dollars
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And this is a
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Titan Class ship in the space game
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Eve Online and this virtual object
takes 200 real people
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about 56 days of real-time to build.
Plus countless thousands of hours
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Of effort before that,
and yet many of these get built
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At the other end of the scale
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Game Farm Ville you may well of heard of
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Has 70 million players around the world
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Most of these players are
playing almost every day
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This may all sound
really quite alarming to some people
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An index of something worrying or wrong
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in society
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But we're here for the good news
and the good news is
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That I think we can explore
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Why this very real human effort,
this very intense generation of value
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is occurring and by
answering that question,
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I think we can take something
extremely powerful away
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And I think the most interesting
way to think about
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How this is going on
is in terms of rewards
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And specifically, in terms of very
intense emotional rewards
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that playing games offers to people,
both individually and collectively
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Now, if we look at what's going on
in someone's head
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When they are being engaged, two quite
different processes are occuring
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On the one hand,
there's the wanting process
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This is a bit like
ambition and drive.
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I got to do that.
I'm going to work hard