Abstract
The world of mouth(WOM) plays a fundamental role in game consumer decision-making process and further influences game companies' future revenue. However, when estimating the value of a game project, the traditional way is NPV, which assumes that the future revenue is statistic and can be represented by history games' revenue. Such method is inaccurate because future revenue is dynamic. So instead of NPV, this article combines real option financial model with WOM to provide a better method to investigate how game projects' value is influenced by WOM. And such new valuation method offers more constructive investment advice.