2)Pwnage (present tense) or Pwned (Past tense) - (adjective) - Describes how amazing or cool a person, place, or thing is
Commonly used by kids, teens, and young adults in video or computer games. Originated from the word 'owned' of the same meaning, it is perhaps a typo that has become a popular in the virtual and internet world. Of the txt language or known online as 'Leet' (L33T or L337), short for 'Elite'.
"I lost 50 to 17."
"Dude, you got totally pwned!"
2) "How was your trip to Seattle?"
"It PWNED HARDCORE! You should have been there!"
2) "Left 4 Dead 2 is going to be Major Pwnage!"
See also: teabag
Although it's origins are disputed, it is thought to have originated when someone mistakenly typed "pwn" instead of "own" when playing an online game.
Lame Halo Player 2: Hahaha, I totally pwned your a**! (proceeds to teabag Lame Halo Player 1)