Gold selling has always been a lucrative business, but the recent acquisition of the My MMO shop website proves that it's recession-proof as well. As reported by recent financial records, the third largest MMO gold selling site in the industry just sold for $10 million to a company established in 2008 for the sole purpose of buying the site. This makes me wonder what the top two would sell for., but I digress!
"MyMMOShop.com appealed to us because of its strong reputation for providing optimal customer service," says Hunter Crowell, My MMO Inc.'s Media Relations Agent. "That focus will continue with our purchase." Wait, am I wrong in pointing out that this business goes against the EULAs of every major MMO out there? We're not talking about simple company-backed RMT here, we're talking about gold farming and gold spamming. Yet, despite the "illegal" nature of the business, it seems to only be growing in popularity, ironically more as the economy sinks deeper. "This is a risky time for any kind of traditional investing," says Crowell. "People are staying home more and choosing less expensive forms of entertainment, like playing video games."
Reader Comments (9)
Posted: Jan 30th 2009 7:19PM karnisov said
and why is it a successful business? because grinding sux.
Posted: Jan 30th 2009 8:15PM ReijMan said
And ruining the MMO-industry, ruining player's fun doesnt? When you're not playing like an idiot MMO's are designed to have enough earnings to cover the expenses. If you need to buy gold, you're AN IDIOT!
Posted: Jan 31st 2009 11:12AM (Unverified) said
Got any proof that it's "ruining the industry"? No, of course you don't, all you have is an emotional reaction to someone paying money for something you "worked hard" for. "Time is money, friend" as they say, and some people have more of one and less of the other, hence the exchange.
If RMT was really destroying things, why is the genre continuing to grow and expand? RMT is simply something that players want, (most) MMO companies aren't providing, and will never go away until the factors that cause people to buy gold go away.
Reply
If RMT was really destroying things, why is the genre continuing to grow and expand? RMT is simply something that players want, (most) MMO companies aren't providing, and will never go away until the factors that cause people to buy gold go away.
Posted: Feb 1st 2009 12:39AM ReijMan said
Dude, get your facts. Goldfarmers get banned, they need new accounts, companies buy serials with frauded creditcards, creditcard companies sue the MMO industry for this: http://www.massively.com/2008/08/15/fraud-and-its-effects-on-the-mmo-industry/
Just an example
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Just an example
Posted: Jan 30th 2009 9:22PM Angelworks said
It actually surprises me how profitable it is. I talked to someone at Blizzard during Blizzcon last year who said they collect some 6 figure amount of gold every day (since they started auditing gold transfers from character to character) - shocking.
Posted: Jan 31st 2009 9:22AM (Unverified) said
This story is completely bogus. I've worked in the RMT industry for 4 years, in both Asia and the USA, and for some of the biggest RMT companies in the world. I am still active in the marketing of RMT services (all legit guys) and I can honestly say I've never heard of "My MMO Shop".
Need proof? Go look up the traffic statistics for this site; it gets less than 75 visitors per day. Even if they were converting 100% of visitors (industry standard is 4-6%), that would still make them outside the top 25 companies in our industry.
Quite frankly I'm amazed that a site of Massively's credibility could be duped by such an obviously fake story and attempt at publicity. If you're handing out opportunities to advertise RMT why not drop me an e-mail? At least our company is American.
Need proof? Go look up the traffic statistics for this site; it gets less than 75 visitors per day. Even if they were converting 100% of visitors (industry standard is 4-6%), that would still make them outside the top 25 companies in our industry.
Quite frankly I'm amazed that a site of Massively's credibility could be duped by such an obviously fake story and attempt at publicity. If you're handing out opportunities to advertise RMT why not drop me an e-mail? At least our company is American.
Posted: Feb 9th 2009 11:02PM (Unverified) said
Hey, I work for the RMT industry also. Is there another site perhaps we could get in touch directly?
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Posted: Jan 31st 2009 1:18PM (Unverified) said
It's not Massively that might of been fooled, as you claim, but Yahoo Financial and Venture Returns, along with other news sites. Massively is just caring news that supposedly reputable news sites are carrying.
And Chris, you are scum, because it's your type that is responsible for hacked accounts and destroying the fun of other gamers. I hope you get nailed for your crap some day.
And Chris, you are scum, because it's your type that is responsible for hacked accounts and destroying the fun of other gamers. I hope you get nailed for your crap some day.
Posted: Feb 9th 2009 8:57PM (Unverified) said
This is just a marketing ploy. Please. 3rd largest gold selling site? Flat out LIE.
1) No one has ever heard of mymmoshop
2) Its public traffic rankings are nothing... check alex or compete
3) Mymmoshop purchased by My Mmo inc? come on
1) No one has ever heard of mymmoshop
2) Its public traffic rankings are nothing... check alex or compete
3) Mymmoshop purchased by My Mmo inc? come on







