More silly scene/hXc internet speak. Variant of "own", thats pronunciation is undetermined. Whether it is "PAWN" or "POWN"(rhyming with "own"),is left up to dispute.
To "pwn" something or someone means something along the lines of "to be cooler than" or "to beat in a level of coolness and/or skill and/or etc".
a dumbword a bunch of pimple faced internet nerds use to show they're e-skill.
people who use the words pwn, noob, own etc, will always have thick glasses & SOMEHOW think these words are cool. say that in public and get your pepperoni face jacked.