World Bank report finds selling virtual goods in games more profitable than 'real' economy

A report commissioned by the World Bank's infoDev unit has cast fresh light on one of the more fascinating aspects of our brave new interconnected world: the virtual economy. The "third-party gaming services industry" -- where wealthy but impatient players have someone else grind away at online games for them in exchange for monetary reward -- is one of the focal points of the study, chiefly owing to it having generated revenues in the region of $3 billion in 2009 and now serving as the primary source of income for an estimated 100,000 young folks, primarily in countries like China and Vietnam. What's encouraging about these findings is that most of the revenue from such transactions ends up in the country where the virtual value is produced, which contrasts starkly with some of the more traditional international markets, such as that for coffee beans, where the study estimates only $5.5 billion of the $70 billion annual market value ever makes it back to the producing country. The research also takes an intriguing look at the emerging phenomenon of microwork, which consists of having unskilled workers doing the web's version of menial work -- checking images, transcribing bits of text, bumping up Facebook Likes (naughty!), etc. -- and could also lead to more employment opportunities for people in poorer nations. To get better acquainted with the details, check the links below or click past the break.

BBC

infoDev (PDF), Virtual Economy Research Network

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Google announces new ways to discover apps on Android Market, more tools for developers

Android Market may have a lot going for it, but most would surely agree that it could use some improvement when it comes to discovering apps that you aren't specifically looking for. Thankfully, it seems Google has indeed been aware of those concerns, and it's now announced five new features that should go so some way towards improving things. Those include some newly revamped top app charts that promise to be "fresher" and country specific, a brand new Editors' Choice section that highlights apps chosen by Google, a new Top Developers feature that places a special icon next to the name of developers that make the grade (currently more than 150), improved related apps on individual app pages and, last but not least, a new trending apps section that shows the apps growing fastest in terms of daily installs. What's more, while all of those features are currently exclusive to the web-based version, Google says they're also "coming soon" to the Andr...

Scientist cooks up adjustable strength metals

As you may know, crafting a katana is a delicate process that involves carefully constructing a razor-sharp high-carbon edge around a soft shock-absorbent core. One day though, smiths and forging fires could be replaced by electrode-wielding mad-scientists, with the technology to selectively harden and soften metal at will. At least that's what we envisioned when we read about Jörg Weißmüller's breakthrough research in the field of nanomaterials. The German scientist discovered that by placing precious metals in acid he could create tiny ducts through corrosion. Once those channels are flooded with a conductive liquid, electrical currents can be used to harden the material and, if you change your mind about the brittle results, the effect can easily be reversed to make it soft again. The tech could eventually lead to self-healing vehicle armor or scratch-resistant cellphones -- but, really, we just want to zap our way to a high-quality samurai sword. Physorg

LG adds 'Tweet-TV' enabled Android phone to its list of Mobile DTV prototypes

Whenever mobile digital television broadcasts finally take off LG will be ready and its latest concept design -- following the autostereoscopic 3D screen shown at CES -- is the Tweet-TV pictured above. At the National Association of Broadcasters show this week it's demonstrating the prototype Android phone with a Harris MDTV antenna that also pulls in relevant tweets and displays them over the broadcast being watched. Whether or not a dose of social networking will help MDTV succeed where others have failed remains to be seen but first we'll see if it manages to reach 40% of the US population later this year. The press release and a bigger picture follow after the break. LG ELECTRONICS SHOWS EXPANSIVE CAPABILITIES OF MOBILE DIGITAL TV, DEMONSTRATING 'TWEET-TV' SOCIAL NETWORKING, ELECTRONIC COUPONS, 'GLASSES FREE' 3D Prototype displays, Smartphones highlight flexibility of mobile DTV standard LAS VEGAS -- Apr 08, 2011 / (http://www.myprgenie....

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