Comments on: Banking on a virtual economy

Online gamer Jon Jacobs recently spent $100,000 in real-world money to buy a virtual space station. Is he nuts?

[Earl Benser]

Quite pathetic....

... sure, he can make money. With a;ll the gullible idiots out there,
any hair brained idea can make money. This is just a case of the
useless capitalizing on the gullible.

Just think what all this energy could do in a real life.

[Far Star]

LOL! Talk about pathetic!

Pathetic ... yeah, riiight.

Don't be jealous that someone can think out of the box and earn money in a virtual world while you flip burgers.

In online gaming worlds where the exchange of real world money can be converted into that world?s money (or straight out used) you will see a new paradigm in economics rise. Most people don't see it because they are still tied to the old thoughts of brick & mortar businesses and real properties. But there is a HUGE segment of the world (that's right the WORLD) that game and 'live' virtually in various games and these people are learning more about economy in these worlds (and in general) than any college could ever teach them. Soon they will be earning more money than most of those millionaires that you see in the media.

All you need to do to see where its going is to do a search on eBay for any of the popular MMOGs (World of Warcraft, Everquest, EVE Online, etc.) and see people already earning something of a living off virtual goods. In the case of SOE they even are trying to leverage the market for their own profit. That would say something to anyone with more than a high school education.

There are still purists in many game worlds that hate and fight against the ?farmer? and gold merchants in many of the above worlds. In cases where the game doesn't support or approve of selling in game goods I agree with them. But in those games (Second Life, Project Entropia, ???) where it's "legal" to buy and sell stuff for real world money I see no problem with what he's done. I only wish I had the money and the moxy to do it too.

So in short, you need to get a grip on the coming wave. They are not gullible or useless, these residents of the online worlds. They are the future economic giants, the movers and shakers, of the next era. Not all of them but certainly many of them. To be dismissive is to wallow in your own ignorance.

Strange but Cool

I'm a little bit intrigued by this story and can't wait to see what kind of return this nets for him but I have some questions on his numbers. I would be concerned about whether or not the population supports the huge number of hunters that would be required to really get this little plan of his rolling. I look forward to hearing more about this.

[Doofus135]

Correction

First off, if he makes money, he makes money. There's no arguing that point. Second I want to make a correction to his opinion on the U.S economy, yes the housing market MAY slow in the coming months or years, but Alan Greenspan has been raising rates for a year and a half now, he didn't just "start raising rates after Katrina" Good luck with your investments

[alek_nedic]

he makes money

http://www.analogstereo.com/vacuum/miele_luna_s4_galaxy.htm

[cube3]

Free Online Space station.

Hey all,
Why not try a free multiuser 3d space station thats been online for years...no cost, games, chat, more..

www.starbasec3.com

cube3

[elitegamerchick]

I want to be like him!!!

I live at home with my two kids and this story really inspired me. I've been gaming MMirog's for years if you can do it why cant I. GOod luck !

[chriskameir]

Read why Richard Nixon is the inventor of the virtual economy: http://kameir.com/virtual-economy.html