This week’s issue of IEG’s Sponsorship Report has an interesting article about how virtual worlds can generate real-life benefits for sponsors and properties. Virtual worlds still have a ways to go before they become as viable a vehicle/space as MySpace or Facebook, which both have over 20+ million users each. However, the popularity of virtual worlds has been increasing steadily–1.8 million users logged in to Second Life in the past 2 months–despite the fact that these worlds take a lot of time to learn how to use.

IEG’s article mentions three benefits virtual worlds can offer properties and sponsors:

• Expand reach beyond physical events and venues

• Additional exposure and access to consumers, thereby increasing the value of sponsorship packages

• New revenue streams though online sales of merchandise, tickets, etc.

These are good in that they are examples of things that benefit companies and brands. But brands need to consider how their presence will affect virtual world “residents” before they get involved. Most importantly, a corporate space in a virtual world should be fun, and offer “residents” opportunities to try new things.

The NBA recently got involved in Second Life by creating an NBA Headquarters there. This is a good step for them, as it allows them to incorporate existing sponsors (specifically Cisco, T-Mobile and Toyota) and add value to their sponsorships. However, I’d like to see them push the envelope a little more. Instead of the current half-court shooting contest at T-Mobile arena (which is essentially the same as the boring, real-life contest), why not let people create their own dunks, or take video of themselves dunking from the free throw line , or even the three point line? People in Second Life can fly around, so why not take advantage of this, and play off the ongoing debate that the best dunkers don’t just jump; they fly.

While the NBA could improve on its offerings, it is offering some unique benefits, such as the opportunity for people to watch past playoff games and other highlights in various video lounges. It will be interesting to see how other leagues approach virtual worlds–what content they decide to share and what opportunities they create for sponsors and fans.

Update: Check out what Scion is doing in the virtual world space.

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