Pwned

Pwned is the term that means. Pwned is simply a typo used by gamers worldwide to mean the act of pwning someone. Like when you own someone because you enacted a move on them that was so amazing, they are embarrassed to exist. But you pwn them. Pwnage is the act of pwning. The name for someone who receives pwnage repeatedly is called a Noob, the most pwned catagory of online gamers in the online gaming world.

Origins
Some twat was typing owned on a gaming chatroom and reached for the O button. He typed P instead. So "I owned his a**" came out as:

so unfortunately, it has become a commonly heard online phase (mostly used by American Average players).

Usage
Correct usage is undefinable. Pwnage is technically a typo, so usage therefore determines your misuse of the English language (basically, you become an American). If you love yourselves, you will not use the term pwnage too many times. Use pwnage like you would a fine spice on a meal. Don't pour it over everything making the word feel overused, but sprinkle it over sentences to make everything seem fancy.