Company Specific Virtual Worlds

The rapid rise of Virtual World technology poses exciting opportunities and complex challenges for businesses. Virtual World technology, for the purpose of business usage, can be defined as any 3D immersive and persistent environment that can be accessed concurrently by multiple people for the purposes of conducting E-Commerce. The purpose of this chapter will be to examine how Virtual Worlds are being used in business today. The authors will reflect on the first wave of companies entering Virtual Worlds, which has yielded some key lessons learned, as well as, evidence to its next phase. By defining the spectrum of different uses of Virtual Worlds, this chapter will cover key lessons learned and guidelines, current barriers to adoption, and the business value of using Virtual Worlds for business purposes. Lastly, the authors will examine future trends in Virtual World technology that relate to future Virtual World E-Commerce growth.