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Ownificationism 

The act of owning. The belief that being better at something than someone else makes you a superior human being. Most often practised by people involved with the internet.
Did you see that headshot? Ownificationism!
That guy is unbelievable, that's ownification(ism) on a brand new level!
Ownificationism by Kakevoldtekt December 20, 2010
Related Words

Ownified 

A form of the word owned. Usually used during 2+ player splitscreen, where you are actually sitting next to your opponent(s).
Bitch, you just got ownified!
That guy just got ownified!
I ownified you with a sticky grenade!