Virtual Goodness 4 Kids

At this time when both the public and philanthropic resources support the growing needs of children are highly constrained, a new and largely "under the radar" economic trend holds the potential to increase the funding available for children's issues and programs. Today, growing numbers of people who play multiplayer games online, such as FarmVille and Second Life, are spending real money to acquire digitized props or tools that help them advance on their game. An estimated one in eight Americans play social games online, spending $1.6 billion for these "virtual goods." Virtual goods are items people can buy on Facebook games, in virtual worlds or on mobile games.

While many see the purchase of virtual goods as "paying something for nothing," revenues from their sale have increased 300% over the past three years, and, in the U.S. alone, are projected to total $2.1 billion in 2011 and $5 billion in 2014. Thanks to a two-year Stanton Fellowship provided by the Durfee Foundation in Los Angeles, Wendy Lazarus, Founder and Co-President of the Children's Partnership, is exploring this new economy and testing out the most promising strategy for tapping into revenues generated from the purchase of virtual goods in ways that benefit children's health, education, and well-being. What makes this initiative especially important is the potential to expand the revenue base to meet kids' growing needs, rather than simply finding a new way to tap the existing, limited pool of available resources.

For interested Game Company Partners, please read more about this initiative.