May 30, 2007Word of the Day > Word of the Day: Gold FarmerFrom Chinesegoldfarmers.com: "A person who collects in-game currency in a Massively Multiplayer Online Role-Playing Games (MMORPG) for the purpose of selling it to other players for real world currency." There's a documentary on the Chinese gold farming industry: Multiplayer online games have given rise to a virtual economy, in which all kinds of virtual assets from in-game currency, magic shield to whole characters are traded against real world currency. In China, there are tens of thousands of gaming sweatshops that hire people to play games like World of Warcraft and Lineage. The gaming workers kill monsters and loot treasures for 10-12 hours a day to produce virtual assets that are exported all over the world. They are called Chinese gold farmers by western gamers and many myths about them are circulated in the game universe. Preview of the documentary: Terranova: How a gold farm works, from the perspective of the farm owner: My other customers consisted of the stereotypical plat buyer that people seem to dislike. The guy who goes out and spends $2000 on platinum (which gets you about 15 million platinum right now, or which got you 4 million platinum a couple months ago). These were the people with lots of money or who just had EQ as their main hobby (we all have one of those money sink hobbies to an extent) and had no qualms about spending such money on a videogame as it was fun for them to do so. Then there were the guilds, or guild officers and leaders who would buy platinum to pay for their guild's armor pieces, or high end players who would buy platinum for rare items like amulet of necropotence, mask of tinkering, blade of carnage, or other things their guild did not actively kill, or which were almost required for individuals to make it in a high end guild as they needed a "taunt weapon" or the like. Previous WOTD - Reduplication Posted by lesjones | TrackBackComments
It is a lot more sane that investing your life savings into Tulips, but I think this will end very badly also. I wonder why the game developers don't offer a currency exchange already. I think that might cause virtual inflation, but they could raise interest rates to combat it. Posted by: Tony M at May 31, 2007I'm not a gamer, but my impression of Second Life is that the game company pretty much does sell virtual real estate and such. Any Second Lifers out there who can fill us in? Posted by: Les Jones at May 31, 2007I haven't played Second Life, but I'm thinking of trying. My understanding is this: Premium account players can own land and profit from land use. Unlike some other games, SL allows players to directly exchange in-game currency for cash. Land costs a monthly fee and is first-come first-serve. Plots can be sold to other players for a profit. As such, speculation does occur. (Anshe Chung is the best known speculator... and previously sold "erotic services".) On top of this, there can be zoning laws that restrict building placement and other stuff. Apparently, some speculators would try to block off areas to force another landowner to either sell their land or buy up adjacent properties at an exorbitant price. So, basically, Second Life involves as much bitching as Real Life. (Free account users apparently can make items/scripts that do various things for amusement. They can also visit the attractions real estate of the premium account users. But they can't earn money.) Posted by: Alcibiades at May 31, 2007I just tried it. Dear god, I think it is the equivalent of MySpace, except it is for people that think two dimensional webpages aren't hip enough. Posted by: Alcibiades at May 31, 2007Post a comment
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