Posts with tag virtual-currency

Pop law abounds in The Lawbringer, your weekly dose of WoW, the law, video games and the MMO genre. Running parallel to the games we love and enjoy is a world full of rules, regulations, pitfalls and traps. How about you hang out with us as we discuss some of the more esoteric aspects of the games we love to play?

Gold selling is a multi-billion dollar industry that spans the globe, with a healthy portion of in-game currency sales originating from China. It's a cheap operation to start up -- all you need is cheap labor, some computers, a PayPal account, and a copy of World of Warcraft. The overhead is low and the payoff is big because the demand is present for the supply. People have a perceived need to buy gold, so more people sell gold, which allows the market to grow. It won't stop, either, as tradable virtual currency from all types of games hit the gray market.

What happens when an industry with low overheads becomes too profitable? What happens when a relatively simple setup like gold farming goes from the quaintness of cottage industry to a virtual currency-fueled industrial revolution? People start getting ideas when money is sitting there on the table, ready and waiting to be snatched up by the stalwart businessman. Combine that sentiment with the corruption and profit motives of institutions and a labor force that is for all intents and purposes free, and you get the sad tale of prisoners in China and the people in charge.

Pop law abounds in The Lawbringer, your weekly dose of WoW, the law, video games and the MMO genre. Running parallel to the games we love and enjoy is a world full of rules, regulations, pitfalls and traps. How about you hang out with us as we discuss some of the more esoteric aspects of the games we love to play?

I can't stop talking about virtual currency! As virtual worlds and economies penetrate every aspect of our lives, we are faced with the new and daunting challenge of identifying the seedy criminal element present in every human venture. There will always be someone breaking the rules, skimming off the top, or finding a way to steal their way up the ladder. Generally, as a society, we accept this as part of the process and make our rules accordingly to punish and dissuade against future criminals and all that jazz.

This week, we read about a very interesting virtual theft over Zynga poker chips, in which a 29-year-old British IT businessman named Ashley Mitchell pleaded (or pled, depending on your colloquial acceptance) guilty to stealing $12 million worth of the virtual currency. You know what Zynga is -- it is responsible for FarmVille, Mafia Wars, Zynga Texas HoldEm Poker, and about 8,000 other social networking entities. The company is ubiquitous. It also sells an ungodly amount of virtual currency online and offline for its games. Zynga poker chips, however, cannot be bought offline.