Friday, December 13, 2002
(Im)material World
As an addendum to my previous discourse on video games, it appears that economists are all abuzz about virtual economies of egames. It seems that online role-playing games like everquest and Ultima’s economies are reaching massive proportions. The sale of virtual goods and services for virtual cash amounted to about the GNP of Bulgaria last year. Strangely, this economy has spilled over into the real world – nearly $3 million in Ultima goods were purchased on eBay last year. For example, one gentleman paid $750 for a castle in the game. This seems a little frivolous and a little like cheating. When Ferrental built a castle, he paid for it blood, sweat and tears. I suppose I could have paid the GM 500 dollars to just give it to me, but where would be the fun in that?
------------------------------------------------