Scottsdale, AZ, March 01, 2007 --(PR.com
)-- The simExchange, the online virtual stock market game where gamers buy and sell virtual shares in video games to predict how well the games will sell in the real world, has been upgraded. This is the first major update to the simExchange's presentation since its public beta.
The simExchange was developed in the Fall of 2006 by recent Princeton University graduate Brian Shiau. Shiau developed the project because, "As a gamer, I always found it time consuming to sift through all the video game news to find new releases that are worth learning more about. I created the simExchange to help gamers identify and learn about the most eagerly anticipated new games."
In his economics and finance studies at Princeton, Shiau had been intrigued in the predictive power of markets. "I believe markets can be used to aggregate information outside traditional financial applications such as tracking the anticipation for upcoming video game products," Shiau said. "Additionally, the wisdom of the crowds concept can save gamers' time. If a pool of people have determined that an upcoming game will be a big deal, I am more likely to look into it, too. The key with the simExchange is that players have to back their opinions with a limited resource."
Users can quickly identify the most eagerly anticipated games by their share prices and trading activity. The user can read a succinct summary and preview articles, images, and videos from the Internet that other users have marked as "valuable" to quickly learn about the game. The simExchange features a new twist on social bookmarking by integrating with the simExchange game—players gain additional DKP currency for buying game shares by submitting comments and other content that fellow players value.
From the analyst's perspective, Shiau understands the dearth of sales data that has plagued the video game industry. He said, "Video games have become a major part of the entertainment industry today and a spotlight sector in the financial markets. However, analysts and investors often express a desire for more detail in video game forecasts and sales information of the sort seen in more mature industries."
To tackle this information problem, Shiau organized the simExchange as a virtual stock market game and structured video game stocks to predict the global sales of particular titles. Share prices on the simExchange correspond with the number of copies a game will sell worldwide over its lifetime, with 1 DKP share price corresponding to 10,000 copies expected to be sold. Shiau hopes that as the simExchange grows, its stock prices will serve as strong indicators for the industry and media to evaluate and track upcoming video game products.
Shiau, the designer and programmer of the Web site and game, launched the simExchange public beta on November 9, 2006. Since then, the simExchange has attracted over 2,400 registered players, many of whom use the site for several hours a day. Members describe the Web site as fun and addictive but also as "something where they can learn useful life skills." Many users of the simExchange have had no experience in the stock market and consider this an entertaining educational experience. Playing and participating in the simExchange is completely free and no real money is involved.
The simExchange can be found at http://www.thesimexchange.com