Empire Ave: Fad or Forever

Empire Ave is a social network/game that acts like a virtual stock market allowing you to “buy” stock in both friends and brands. The tech elite have recently jumped on it. Is it the next rising star or crashing meteor?

The gaming aspect of Empire Avenue has many elements/features that are likely to show up in other places. However, the stock market element pinned to personal value is a very odd social construct to me. The people’s whose opinions are most valued don’t typically share them broadly (this is one ‘scarce’ resource that I believe will continue to hold value) because it cheapens their value and reduces their negotiating position. This tool is for those who like to ‘win’ for no other reason than to win.
Now, if you took some of the elements and applied them to ideas or other content, in a context where it makes sense, I would have a very different assessment of it. I just see the time-suck in its dynamics.

Selected tweets that caught my eye:

Robert Scoble is promoting Empire Ave, and Jeremiah Owyang (Web Strategist/Industry Analyst, Altimeter Group) as well. David Armano (Executive Vice President, Edelman Digital) and Scott Monty (Head of Social Media for Ford Motor Company) are talking about it. (I can’t stand it, still; find that its a time-hog, needs daily care and feeding to win at.)

Chris Pirillo (Lockergnome/Gnomedex) wrote an blog post and made videos with strategy tips. For whatever its worth, Leo Laporte, Guy Kawasaki & Kevin Rose joined recently I own @davewiner on Empire Avenue at http://empireavenue.com/ipo/twitter/davewiner by Scobleizer, April 20th, 2011

http://twitter.com/#!/Scobleizer…
Would you buy yourself? Empire Avenue let’s you. see write up from @Armano http://t.co/cC3N6JI by Jeremiah Owyang, retweeted by Scobleizer, April 20th, 2011

The current “bubble” in EA activity will likely burst as novelty wears off and short-term strategies play out – but what Dups and the team have done is brilliant, and I’m sure EA’s code and algos will morph into multiple forms, while the approach they’ve introduced is definitely a trend that will continue to advance.

EA can be played purely with the objective of rapidly maximizing share price or wealth. I’ve only been on it a few days myself, but I think I’ve seen some very short term strategies being played. The “Buy Me!” IMs, personal advertising and focus on single day share prices will likely get old quick, and prices inflated by short term strategies of narrow self-interest will be rewarded in the longer term with declining prices as “value” strategies take over.

The game can also be played with a longer-term view and an eye on dividends, and this is where the value of EA beyond pure entertainment resides: understanding what makes yourself/anyone a valuable asset in a social economy. For those looking to improve their value as perceived by others, EA brings together a broad range of metrics – including (critically) the direct perceptions/predictions of other players – and distills them into a few KPIs. Tending those KPIs is like an exercise program, it will make you stronger over time, but it involves effort and is not for everyone.

It is not for people like myself who do not wish to work in 20 minutes of work into their day – to win at a game.

About Saul Fleischman

Working with social web apps developers on getting things made: my role tends to be functionality ideation, user experience, and also, marketing communications and community development.

su.pr size it! http://su.pr/2e07aJ

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Brad Holland

I have enough trouble managing, HootSuite, Triberr, Facebook, Mafia Wars,LinkedIn, Email, current job, wife, kids….Empire Ave seems like another damn thing to distract me…….I signed up up though..:)

Saul Fleischman

Thanks, Brad. I fine #eAv takes much care and regular feeding to prosper with. I joined as well. Left two weeks later.

Rhonda Rondeau

I’m totally spending all the money I have left on you in eAv! ha ha

INKOM

Interestingly, I disagree with EA rewarding blog posts and Flickr uploads. There is much more interraction on Twitter and Linkedin. The likes and mentions on Facebook shoulod be less relevant as all we see is someone commenting “nice” to a stupid photo share on FB and getting a higher EA share price. We spoke to guys at EA and they promised to upgrade their API as current API is outdated. That’s after they manage to raise $1m of additional funds from the tech-angels of the Silicon valley. The question is what then? What would happen after they burn that $1m? List as Groupon did shoowing $400m losses on pure excitement?

Saul Fleischman

Thanks for that, @inkom Yes, the real money thrown their way makes many wonder and share your stance. Further, how they quantify blog stats can be nothing but over-simplified: number of posts/all-time? Per month? Of course they wont poke into comments let alone reactions.

Anonymous

Interesting writeup. I’ve always liked the concept of EA, but didn’t really see the value. It’s one of those things where I’ll ignore it the first 8 times, but the 9th might actually get me on there. Sort of like Triberr is for many folks I’d imagine.

Saul Fleischman

Oh, with @triberr those who take the time to understand the few simple dynamics that matter most see the value, Dan; with #eAv its a game that must be fed daily to win at.

Chris Pirillo

Cool. More business relationships for me to make there, then.

Saul Fleischman

Thanks, @chrispirillo and yes, I am well aware, so many love the tangential benefits of #eAv. BTW, talk Triberr with me; I have but one tribe to recommend for your blog.
INKOM

Chris, with your share price doing so well, clearly your blogging pays off

Rhonda Rondeau

If you honestly have that much time to play a game, then you’re not really doing community or social media! (ha ha ha)

Saul Fleischman

that, too, is a fine point, @rondata:twitter Who has the TIME it takes to build your price in #eAv?

Michael Q Todd

Moronic

Saul Fleischman

Always a delight to be honored with “a” word, @mqtodd:twitter You’re the one undertanding what to do with #eAv best, IMHO

Michael Q Todd

Empire Avenue continues to rock

OsakaSaul

Thanks for that. Yes, I see that its fans continue fanning the fire – that’s for sure.

Joecheray

I love Eav. I do missions at night to unwind. I have met interesting people through doing missions. I have nothing but love for the game. I am competitive enough that I “GET” what it is all about.