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[clapping]
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I love video games, I'm also slightly
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in awe of them.
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I am in awe of their power in terms of
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imagination in terms of technology
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in terms of concept
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but I think above all I am in awe of their
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power to motivate, to compel us, to
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transfix us, like really nothing else we ever
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have at this point, done before.
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And I think that we can learn some pretty
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amazing things by looking at how they do
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this. And in a particular thing, we can
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learn things about learning. Now, the
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videogames industry is far and away the
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fastest growing of modern media from about
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10 billion in 1990 worth to 50 billion
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globally today, shows no sign of slowing
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down. In four years time, it is estimated
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to be over 80 billion dollars. That's
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about three times the recording music
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industry. This is pretty stunning but I
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don't think it's the most telling
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statistic of all. The thing that really
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amazes me is that today, people spend
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about 8 billion real dollars a year on
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virtual items that only exist inside video
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games. This is screenshot of a virtual
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game world in Entropia Universe. Earlier
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this year a virtual astroid sold for 350
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thousand real dollars. And this is a
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Titan Colossal ship in the space game Eve
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Online and this virtual object takes 200
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real people about 56 days of real time to
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build plus countless thousands of hours of
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effort before that, and yet many of these
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get built. At the other end of the
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scale. The game Farm Ville you may well
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of heard of has 70 million players around
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the world. Most of these players are playing
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it almost everyday. This may sound quite
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alarming to some people
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An index of something worrying or wrong
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in society. But we're here for the good news
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and the good news is that I think we can
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explore why this very real human effort,
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this very intense generation of value is
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occuring and by answering that question,
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I think we can take something extremely
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powerful. I think the most interesting way
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to think about what is going on is in
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terms of rewards. Specifically, in terms
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of the very intense emotional rewards
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that playing games offers to people,
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both individually and collectively.
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Now, if we look at what's going on in
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someone's head when they are being
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engaged, two quite different processes
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are occuring. One the one hand there's the
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wanting process, a bit like ambition
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and drive.