Virtual Currencies: The Rise of a Not-So-Virtual Monetary Unit

From FarmVille Dollars to the Evony Cent,
nearly every virtual world, multiplayer game and online environment
seems to be adopting synthetic currencies – the little tokens we
happily give our real money to acquire.

Virtual
currencies each have their own exchange rate, from L$250 to $1 in
Second Life to 50 Evony Cents for $5 and everywhere in between. But
once successful virtual currency company now claims the success of a
virtual currency has little to do with its price.

Continue reading Virtual Currencies: The Rise of a Not-So-Virtual Monetary Unit

Why Virtual Gamblers Beat the Feds, the Developers, and the Law

232740

      
Virtual gambling never really went away

In the virtual world, bondage
enthusiasts
frequent the same nightclubs as conservative
Pakistanis
and Republican political
candidates

. Amidst this digital sea of acceptance, one thing is strictly
taboo: online gambling.
 

After the passage of the Unlawful Internet Gambling
Enforcement Act in late 2006, virtual worlds like Second
Life closed the books
on what had been a lucrative career for a few aspiring
online Trumps.
 

Or did they? As Pixels and Policy found out in a recent trip
to the virtual worlds of EVE Online,
Second Life, and Evony, illicit wagering
has found a way around the power of Congress and developers.

Continue reading Why Virtual Gamblers Beat the Feds, the Developers, and the Law

Can Virtual Currencies Eclipse Real Currency?

Isk-guide-header

EVE Online's ISK: The currency of the future?

From FarmVille Dollars to the Evony Cent, nearly every virtual world, multiplayer game and online environment seems to be adopting synthetic currencies – the little tokens we happily give our real money to acquire.

Virtual currencies each have their own exchange rate, from L$250 to $1 in Second Life to 50 Evony Cents for $5 and everywhere in between. But once successful virtual currency company now claims the success of a virtual currency has little to do with its price.

Pixels and Policy investigates Cellufun's claim that content – not cost – is the prime indicator of a virtual currrency's success.

Continue reading Can Virtual Currencies Eclipse Real Currency?