vritual economy boosts silently!

abujidesho

There is a new burgeoning economy that usually called Virtual Economy. This new economy is a growing, it is global, and,  according to a recent story in the New York Times, sweat shops in China have already been setup to start profiting from it.  The interesting thing about this new economy is that you have probably never heard about it, never stepped foot in it, and it  is 100% virtual.

Although some of the transactions in Virtual Economy happen on eBay, I am not talking about the people buying and selling real goods and services, these transactions don't actually take place in the World you live in. Massive multi-player online games  (MMOs or MMOGs), like Everquest, World of War Craft, Ultima Online and Second Life each have their own virtual worlds, and  these virtual worlds are creating virtual economies. By some estimates, the traffic in virtual goods is worth as much as $880  million in real cash every year. Stick with me here, this gets really interesting.

Each of these virtual worlds have their own currency and these currencies can be bought and sold with real dollars, yen,  euros or pounds. In fact, some sites are being setup now to actually track the valuations of these currencies. Want to know  the value of 1 Million [url=http://www.gameusd.com]WOW Gold[/url] pieces, or linden dollars compared to US dollars? GameUSD.com will tell you!

Developers not only have to regulate their software, but they also have to regulate the players. If the rich, high level  players buy up all the basic goods, driving the price up so high that new players cannot afford to play is that fair? The  programmers at Ultima Online addressed this problem by "dropping" objects in places where low-level characters could easily  find them, and buying the generlly useless goods like animal skins that these low-level characters produced. Ultima online  morphed from an entirely free market state, to a state which duelly operated on free-market princibles and what was basically  a welfare program. Players decided that it was "fair" and kept playing. Most games now implement a system like this one.
Game developers also have to decide if they are going to allow players to use gold, items and characters that where bought  off of online auctions. The problem with these things was that anyone with a credit-card now could buy that castle that  everyone else had to work for. It destroyed the meritocracy, which was very highly valued by the gamers. Despite this, there  was a high demand for these things. Many people did not want to waste the time it would take to kill 1000 bunnies in order to  reach level two. There is also the allure of earning cash for doing something you enjoy. Even the most stoic, hard-core  gamers are lured occassionally by the possible thousands of dollars of profits if they sold their characters and virtual  goods. So, do developers let the players be, buying and selling as they choose, or do they outlaw pre-leveled characters and  bought items and preserve the meritocracy? Do they cater to the professionals who play the game in their spare time and do  not want to spend three days leveling, and the young and the rich who just want to be the most bad-ass without having to work  for it (the american dream). Or do they cater to their core audience, the dedicated gamer who is going to buy the expansion  packs and is going to keep paying that monthly fee for years?

Not only can you take out your credit card and buy currency for the games, you can also buy anything from high level  characters and game items like clothing, swords, and shields. Some games like Second Life, are totally setup to be a virtual  economy allowing you to buy virtual land, develop it, and resell it. Anshe Chung, dubbed "The Virtual Rockefeller", currently  makes over $150,000 US buying virtual acres, developing these plots, and reselling them.

Most of the transactions are between players and happen in exchanges like eBay. Other sites have been setup to  specifically for this function, ige.com, igxe.com, etc.... In a typical transaction, one player sells and item to another and  they arrange to meet up somewhere specific in the game and make the agreed upon trade. Sony has setup Station Exchange, it's  own trading site for their Games, and saw $180,000 in transactions in the first 30 days.

Are your kids playing these games? Join them! You might just find a new virtual business between ogre battles!

theanimedude

did you post this thinking most of us didn't know these things go on?

You act like this is some amazing new discovery, this is old news and has been happening for years. Most of these economies are against the policies of the game being played.

The best example of a working and supported virtual economy is Second Life. People run clothing stores and the like, and it's rather amazing. They even held a virtual "Relay for Life" which was neat.

IIRL

This is almost as old as the internet itself.

GFCM

it wont change thought. comapanies can't tell people what to do with their in-game items or gold (virtual money). basically if you pay to play a game, wow for example, and you're lvl 60 all epic + all that shit you can have with a bunch of gold you can choose to do charity or whatever and that will change gameplay (for you and other players). THIS is what is fun about mmorpg, you can do shit, or be funny. you can offer/give a lvl 1 char all your money and items for charity, it will be pretty funny and that guy will be happy cause he found a  guy that got bored playing that game and now threw it all he got away on garbage..

not talking about "real money X virtual money" shit, im trying to say that this things make MMORPG similar to our real world that sorry to tell you guys is worst than crappy too.

and we all knew about all that, im just reminding u guys

btw srry 'bout bad english and shit

Wolfjunkie

Recent discoveries i felt like sharring(These are real items, they are actually being made now O.O)

http://membres.lycos.fr/cigale76/picto/photos aliments/sandwich poulet.jpg
The sandwich! Omg omg omg omg, sooooooooo tasty. They're the new thing!

http://www.unitedwaywillcounty.org/images/light bulb 2.jpg
The ligth bulb! No more candles, light bulbs for the win!

And the biggest heavy-hitter, all new invention..
http://content.answers.com/main/content/wp/en/thumb/a/a2/250px-Wheel_Iran.jpg
THE WHEEL!

yokam888

@topic starter

fact 1. everybody already knows that

fact 2. youve posted in the wrong thread