1. Purposeful mispelling of the word own, Meaning to completely overpower and dominate, as in a videogame or argument. 2. to 'burn', as in an insult. Pwn'd and pwn't are it's past and present tenses. 3. To be completely cool and boss.
-After one defeats their opponent in a game-
'Dude, I pwn you.'
-After making a highly offensive statement-
-Referrign to something-
'Man, this song pwnz.'