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

Merry Virtual Christmas: $30 Million Spent on Virtual Items over Holidays

Virtual economies are the subject du jour for 2010, and the mainstream media is catching on. Could it be residual hype from the booming virtual goods market or something much more fundamental – a growing understanding that these worlds are more than mere games?

During a Christmas shopping season that disappointed most retailers, virtual goods sales had a banner year, moving tens of millions of dollars in digital loot and setting up for a solid 2010. Is the growth of the virtual goods market a long-term trend?

Pixels and Policy takes a look.

Continue reading Merry Virtual Christmas: $30 Million Spent on Virtual Items over Holidays

Why Are Virtual Currencies Deflating Across the Board?

Virtual-currency-exchange With both "free to play" and subscription virtual worlds expanding their memberships year-over-year, many analysts have found a productive hobby analyzing the fluctuations of various major Metaverse currencies.

Pixels and Policy takes a look at some work published by University of Manchester researcher Richard Heeks that purports to show a persistent devaluation of virtual currencies relative to the U.S. Dollar.

Continue reading Why Are Virtual Currencies Deflating Across the Board?