A dollar for a pixelated tractor to plow your trade on Farmville here and another one for a digital representation of a birthday cake there really does add up. Those in the know understand that these examples are references to the bourgeoning world of virtual goods; a largely micropayment-driven marketplace for non-physical objects that are purchased with real money for use in online communities, virtual worlds or games (usually to fulfill a functional or decorative goal). This nascent market is estimated to currently be worth over $3 billion (according to Piper Jaffray) and is poised for explosive growth over the next few years.

So how can brands start to play in this compelling high growth sector where digital creativity meets consumer demand? And what does the future really hold for the entire category? Those were just some of the questions that Dan Jansen, founder and CEO of leading virtual goods platform Virtual Greats, attempted to answer during his recent visit to the Digital Lab. You can check out Dan’s take on where this compelling space is headed right here on Digital Lab TV.