Why Do People Pay Real Cash for Virtual Items?

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Here's a question many researchers have stumbled over at one point or another in their careers as pioneering virtual world analysts: Why do people pay real money for virtual items?

Pixels and Policy takes a look.

Digital Growth, Real Revenue

The virtual economy is certainly more than an aberration, and with Second Life bringing in nearly $500 million a year in virtual sales alone, the virtual economy may even be doing better than the real economy!

A new report published in the Virtual Economy Research Network argues that Second Life and other virtual worlds have such healthy real-to-virtual economies because of one main factor: social pressure.

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South Korea’s Supreme Court Decriminalizes Real Money Transactions in Online Games

As many unlucky MMORPG players can attest, most subscription-based online games come down hard on players caught purchasing in-game currencies with real money. World of Warcraft bans players caught buying game gold, and and Everquest does much the same.

Now a new legal decision by South Korea's Supreme Court could be changing the balance of power decisively in favor of consumers.

Pixels and Policy investigates.

Continue reading South Korea’s Supreme Court Decriminalizes Real Money Transactions in Online Games