Virtual Lewt, Real Cash. Cyberspace Economy Surging Ahead

Posted by | October 28, 2009

Imaginary things might have little value, but virtual goodies — like game gold and phat lewts — very much do. For those who think virtual items aren’t worth squat, just remember that copyright law in America is driven by a virtual creature named Mickey Mouse. Just ask Disney how much that vaguely mouse-like cartoon illustration is worth. Why should your in-game character be any different?

This cyberspace economy, the sale of goods, currency, and services in games and social sites, has been growing for some time. Platinum, the money of the MMORPG EverQuest, was once one of the strongest currencies in the world. Since then, millions more people have signed up for virtual adventures, and so cyberspace goods have rocketed up in value. The cyberspace economy is estimated to hit over one billion dollars this year, and that’s just what we can track.

CNet News has more on this story.

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