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Wednesday, February 09, 2005

Real cash for virtual goods | CNET News.com

"As far as real estate transactions go, there was nothing obviously freaky about David Storey's December purchase.

A total of $26,500 for a piece of undeveloped land in an unpopulated but potentially prosperous new suburb--what's not to like? Except that the property exists solely on the servers of 'Project Entropia,' a computer game where players exchange real-world money for in-game goods, services and property.

Almost every major online game has an in-game economy, where players exchange in-games goods for in-game currency. Most also have a real-world economy, where in-game currency and goods trade hands for hard cash." (full story at link.)



Online economies are fascinating, human ingenuity will always lead to exploiting new technology for either profit or porn. Or both.
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