Released on: 28, February 2007
, Author: The simExchange, LLC
, Audience: Internet related
Scottsdale, AZ, March 1, 2007 The simExchange, the onlinevirtual stock market game where gamers buy and sell virtual shares in video games topredict how well the games will sell in the real world, has been upgraded. This isthe first major update to the simExchange s presentation since its public beta. The simExchange was developed in the Fall of 2006 by recent Princeton Universitygraduate Brian Shiau. Shiau developed the project because, As a gamer, I alwaysfound it time consuming to sift through all the video game news to find new releasesthat are worth learning more about. I created the simExchange to help gamersidentify and learn about the most eagerly anticipated new games. In his economics and finance studies at Princeton, Shiau had been intrigued in thepredictive power of markets. I believe markets can be used to aggregateinformation outside traditional financial applications such as tracking theanticipation for upcoming video game products, Shiau said. Additionally, thewisdom of the crowds concept can save gamers time. If a pool of people havedetermined that an upcoming game will be a big deal, I am more likely to look intoit, too. The key with the simExchange is that players have to back their opinionswith a limited resource. Users can quickly identify the most eagerly anticipated games by their share pricesand 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 toquickly learn about the game. The simExchange features a new twist on socialbookmarking by integrating with the simExchange game players gain additional DKPcurrency for buying game shares by submitting comments and other content that fellowplayers value. From the analyst s perspective, Shiau understands the dearth of sales data that hasplagued the video game industry. He said, Video games have become a major part ofthe entertainment industry today and a spotlight sector in the financial markets. However, analysts and investors often express a desire for more detail in video gameforecasts and sales information of the sort seen in more mature industries. To tackle this information problem, Shiau organized the simExchange as a virtualstock market game and structured video game stocks to predict the global sales ofparticular titles. Share prices on the simExchange correspond with the number ofcopies a game will sell worldwide over its lifetime, with 1 DKP share pricecorresponding to 10,000 copies expected to be sold. Shiau hopes that as thesimExchange grows, its stock prices will serve as strong indicators for the industryand media to evaluate and track upcoming video game products.Shiau, the designer and programmer of the Web site and game, launched thesimExchange public beta on November 9, 2006. Since then, the simExchange hasattracted over 2,400 registered players, many of whom use the site for several hoursa day. Members describe the Web site as fun and addictive but also as somethingwhere they can learn useful life skills. Many users of the simExchange have had noexperience in the stock market and consider this an entertaining educationalexperience. Playing and participating in the simExchange is completely free and noreal money is involved.The simExchange can be found at http://www.thesimexchange.com###
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