News Brief
Virtual World Investments In 2008 Tanked
Jan 22, 2009, 7:45 AM
Investments in virtual worlds or related companies fell to about $594 million for 63 companies in 2008, according to a report released by Virtual Worlds Management, a provider of market research and events. The number signifies a sharp decline from the more than $1.4 billion in 2007.
While money appeared to be available for developers creating massively multiplayer games (MMG), 11 companies aiming at more traditional worlds raised about $47.7 million.
The biggest investment went to Nurien Software--$15 million--for its social network/casual games/virtual world combo; FooMojo, $9.9 million, for its virtual pets that have already found a home on Facebook; and EveryScape, $7 million, a mirror world with advertising. Metaplace also got $6.7 million.--Laurie Sullivan
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