The State of being so overtly owned, that saying owned or pwned just doesn't fit and isn't extreme enough.
The word can be used in various ways, as expressed in the examples.
Ownation!
Dude, you just got ownated! (Other form of word, used same as owned)
This is total ownation!
You are in ownation.
Bob is in ownation.
A rare form of materia (see: Final Fantasy) that contains highly refined ownage, hence Ownagi.
Ownagi is different from normal ownage because it also requires seemingly impossible odds to occur while appearing to have no bearing on said ownage at all.
Fred: AMG some guy showed up in game and owned my whole clan even though he had no idea what we were doing before that and we're all focus firing him as team!
From the word owned.Ownagi is a combonation of owned and mr.miyagi from the karate kid and means super skillfull ownage
jim is fighting a huge guy at the side of the road so the big guy swings at jim but jim dodges it, pokes him in the eyes, kicks him in the balls, flips over him and pushes him into the road where the big guy gets owned by two trucks.
OWNAGI!!!!