Above: Dannii Minogue unsuccessfully tries to obscure the fact she's at the Gizmondo launch party

The game
The, um, Gizmondo

The place
London

The theme
Spending a load of money as quickly as possible

The vibe
Some people wondered how Gizmondo could possibly top the opening of the London store - with Sting, Pharrell and Busta Rhymes putting in performances and the likes of Lennox Lewis and Verne Troyer making guest appearances. And... they were right. The handheld suffered a delayed launch in the US, but still soldiered with no games until Gizmondo Europe declared bankruptcy in January 2006, less than a year after the launch.

The effect
There were rumors that Gizmondo executive Stefan Erikkson's links to the Swedish mafia were responsible for the failure of Gizmondo... but come on, Mini-Me? They were doomed from the start.