At Sony's presentation at this year's Edinburgh Interactive Festival, Peter Edward, director of the platform group for PlayStation 3's built-in virtual world PlayStation Home, gave attendees a peek into the ambitious vision for the environment.

"For the user, the value of home is all about being able to share the experience with their friends, both gaming and non-gaming brands," Edwards said. "It's about having a safe, reputable environment run by a trusted brand in which they can feel secure about making online transactions." He added that Home users will be able to use the virtual world to buy real-world items, initially using the PlayStation Store interface which will be itself extended into a fully three-dimensional virtual world "in the long term".

"Community is all about communication with other users," Edwards said. "In the longer term, we'll be implementing a fully featured social networking experience within Home."

Further building on the theme of online socialization around gaming, Edwards continued that Home will allow extensive customization of both the avatar and its virtual apartment. Edward projected, "Users will be able to share other content that they have created -- photos and videos of themselves, and user-generated content tools such as their own t-shirt designs."

He added, "We'll also be giving out tools to allow scripting, java minigames and so on."

Edwards is aware of the importance of community to gamers who play online, noting that it's "crucial" that Home cater to the desire for a competition component, such as that of the competing Xbox 360's Achievements system. "The ability to host tournaments and special events will allow maintaining interest in the game," Edward explained. "By maintaining contact with the users for longer, publishers will be able to learn more about the desires and requirements for the user," he adds, with each IP customizing its community focus.

Highlighting the benefits of the Home experience for non-game brands, Edwards noted that it'll allow access to the highly-coveted demographic that comprises the majority of the connected PlayStation audience with sponsored events, branded spaces, objects, furniture and clothing. "A virtual online experience is something brands have already experienced, but PlayStation Home doesn't contain the same kind of risk as the 'wilder west' online experience," he said.

Publishers will be given their own asset creation toolsets to enable them to offer their own downloadable items in Home, like avatar clothing and furniture, obtainable with the already-established PlayStation Wallet and micropayment systems -- Edwards hinted at the opportunity for revenue-sharing with users, to encourage placement of advertising within their spaces. Edwards adds that in the future, users will be able to buy full games within Home.

"In the longer term, once an engaged audience is there, there are revenue opportunities for all, including end users," Edwards said.

[This exclusive on-site report from Andrew Doull and Leigh Alexander originally appeared on CMP Game Group sister website Gamasutra.com.]