Tomorrow night at 6pm in Santa Clara, California, the MIT/Stanford VLAB (Venture Lab) is hosting an event on the future of virtual goods titled Virtual Goods: Runaway Growth Opens New Opportunities to Monetize.

Virtual goods are quickly becoming a powerful new online monetization model, with users buying gifts, swords, clothes, and other digital items to enhance their experience in social networks and games.

Today the market for Virtual Goods (VG) is already $1 Billion in the United States alone, and is expected to grow 80% to $1,800,000 next year. In Asia, the market is already seven times that of the United States, $7 Billion and more amazingly, in China, VG revenues actually exceed on-line ad revenues.

This event is going to be very very interesting with Justin Smith founder of Inside Network, the first service dedicated to providing business information and market research to the Facebook platform and social gaming ecosystem as the moderator and Brian Balfour, Founder and VP Product Marketing at Viximo, Jude Gomila, Co-Founder and President of Heyzap, Bill Grosso, CTO and SVP Product at Live Gamer, as well as Owen Mahoney, CEO at Outspark as panelists. I’m very excited to be part of the team organizing this outstanding event.

Space is limited, reserve your spot today as we are projecting no walk-in tickets availability tomorrow. Look forward to seeing you there!

• When: Tuesday, December 8, 2009
• Time: 6:00pm – 8:30pm
• Where: Sun Microsystems Auditorium SCA03, 4030 George Sellon Circle, Santa Clara, CA 95054 (map) (not Stanford GSB)