Tuesday, May 18, 2004

http://www.walrusmagazine.com/04/05/06/1929205.shtml

Fascinating article about virtual economies. Did you know that, according to at least one economist, the economy of Everquest places it as the 76th richest country in the world? As soon as people began to sell their virtual goods, be it a virtual sword or even the player's in-game character, in reallife on eBay and other venues, the virtual items got real life value. It's a hint of things to come, as the internet creates non-government-regulated methods of trading goods. Eventually there will be a virtual currency set up by a private organization that can actually be used in real life for real goods. And eventually a virtual currency will come along that has so much cachet online that governments won't be able to ignore it, or their real economies will face severe problems. This could be the first step to world-wide anarchy based on free markets.

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