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Legitimizing Real Money Trading In Games
MMOGamer interviewed Andy Schneider, co-founder of Live Gamer, a company working with several major game publishers (including Acclaim, Funcom, and SOE) to legitimize the real money trading (RMT) industry in online games. Schneider expects this method of customer service to grow much more popular in the West over the next few years, especially after the success it's had in Asia.
"It started in the very earliest MMOs, if not back in the MUD days in a very grassroots sort of way, but then obviously got into a more opportunistic and nefarious industry. When I talk about legitimate RMT, it's about a publisher supporting the notion that people want to buy and sell virtual items for real money, and they have decided to proactively support that notion and give their player-base a way to do that. ... It takes the manual process out of the equation that most players are engaged in with the black market, and reduces the fraud considerably, which is good for players. ... The reason there are gold farmers out there, the reason why there is nearly a two billion dollar secondary market for virtual items, is because of consumer demand."
I've been playing this MMO for about 3.5 years (Entropia Universe, shamelessly) which was based on Real Cash trading/economy. There has always been a fixed exchange rate between U.S. Dollars and ingame currency (PED). Therefore everything you own in game has a real dollar value and can be sold in game. Real life funds can be transferred into the game, and withdrawn back to real life funds. This MMO has been around ~7 years with no 3rd party, nothing new here to me. In fact the parent company Mindark has just been granted a Swedish banking license. Yes maybe soon you can pay your real life bills in ingame currency. We aren't talking peanuts here either, we're talking real cash related to everything you do, so the best items in game fetch a pretty penny. The best healing tool in the game today you can fetch about 40,000 U.S. dollars for. You can buy plots of land in game for about the same that you can tax for real cash. Point is there are games that are based on real cash, and those who aren't. Those who arent it doesn't matter which way you go, private sales, E-Bay, Live Gamer, it's still all 'Black Market'. I'll stick with secure, non 3rd party solutions.
It works for Second Life. Almost too well. In 2007, Ginko Financial, an in-game bank, went bust. Then Midas Bank went bust. This drew the attention of The Wall Street Journal. In 2008, Linden Labs introduced bank regulation. Most of the Second Life banks were actually Ponzi schemes, with huge interest rates. It's still possible for a real-world bank to open branches in Second Life, but nobody has bothered.
Personally, I find real games boring for precisely this reason.
Even so, all the sports you mentioned require a certain amount of skill. In a game, to a certain extent, you can buy skill.
A company has a decent plan to try and level the playing field and get farmers out of games
I fail to see how this "levels" anything. In fact, it creates exactly the same problem for "fairness" -- it ruins the in-game economy for attempting to sell things to other players (since other players can simply buy those items outright from the in-game store), and it creates the same problem of newbies buying their way to the top, while a legit player struggles.
In fact, it brings the whole class system in the real world into the game, which just sucks. What makes the game fun in the first place is that it's not the real world.
I have seen this happen, in a few limited ways. I play Nexus TK, which has only recently begun to follow the Korean business model of giving the game away (or at least, of keeping it at the same $9.95/mo), and selling other things. Most of these other things, I have no problem with, as they're purely decorative. A few are actually useful.
They do try, however, to prevent these from affecting the in-game economy. They cannot be dropped or traded in any way.
Even so, the very existence of that shop has impacted the economy in a few ways. The most obvious are the Equipment Restoration items. Some players can repair items, and they charge an arbitrary fee. This fee halved when people could simply pay a few pennies (of real money) to repair their items -- the demand had simply dried up overnight.
I've greatly simplified the above for the purposes of this comment, but the result is the same.
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