Videogames now enable players to spend virtual fortunes on exotic virtual goods and even create and sell virtual artefacts. Online consumers may also browse endlessly through virtual marketplaces and create and display virtual goods. These virtual commodities are desired and enjoyed as if they were real, but are not actually bought, or owned in a material sense – often resulting in frustration amongst marketers. In this paper we account for virtualised consumption by highlighting its pleasures. We start by historicising the trend towards imaginary consumption practices, depicting virtual consumption as the latest stage in an ongoing transformation of consumption from a focus on utility through to emotional value, sign value and finally playful experience. Viewed from this perspective, we consider the role of emerging virtual consumption spaces as liminoid, transformational play-spaces and explore examples of consumer practices found in these spaces. Ultimately we argue that virtual ...