Virtual Currency Becomes Real In South Korea

Posted by Soulskill on Tuesday January 19, 2010 @06:29AM from the license-to-print-money dept.

garylian writes "Massively is reporting that the South Korean Supreme Court has stated that virtual currency is the equivalent of real-world money. For those of you who might not be drawing the link, the core there is that selling in-game currency for real money is essentially just an exchange of currency and perfectly legal in South Korea. This could have sweeping implications for RMT operations the world over, not to mention free-to-play games and... well, online games in general. The official story is available online from JoongAng Daily."

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Re:Not really surprising by pclminion · 2010-01-19 07:13 · Score: 5, Insightful

their currency is just as virtual as online virtual currency -- it has no actual intrinsic value.
Neither does real gold, unless you happen to need to make really really thin wires, or build something which is extremely reflective, or actually make use of gold's natural properties in some other way. Don't delude yourself. There is no such thing as "intrinsic value."