Virtual Crime - Virtual Economies

Virtual Economies

Over time, players build their characters and collect in-game items. Some such items may have been obtained through months of gameplay, involving various tasks and a substantial level of effort. According to standard conceptions of economic value, the goods and services of virtual economies do have a demonstrable value. Since players of these games are willing to substitute real economic resources of time and money (monthly fees) in exchange for these resources, by definition they have demonstrated utility to the user.

Stemming from their value in the virtual economy, these items, and the characters themselves, have gained monetary value in the real world. eBay, along with specialist trading sites, have allowed players to sell their wares. This has attracted fraudulent sales as well as theft. Many game developers, such as Blizzard Entertainment (responsible for World of Warcraft) oppose and even prohibit the practice. Some argue that to allow in-game items to have monetary values makes these games, essentially, gambling venues.

In most games, players do not own, materially or intellectually, any part of the game world, and merely pay to use it. Because this "virtual property" is actually owned by the game developer, a developer who opposed real commerce of in-game currencies would have the right to destroy virtual goods as soon as they were listed on eBay or otherwise offered for real trade.