Massively http://massively.joystiq.com Massively http://www.blogsmithmedia.com/http://massively.joystiq.com/media/feedlogo.gif Massively http://massively.joystiq.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Darkfall specializes magic schools, replaces death with limbo system]]>http://massively.joystiq.com/2012/02/10/darkfall-specializes-magic-schools-replaces-death-with-limbo-sy/http://massively.joystiq.com/2012/02/10/darkfall-specializes-magic-schools-replaces-death-with-limbo-sy/http://massively.joystiq.com/2012/02/10/darkfall-specializes-magic-schools-replaces-death-with-limbo-sy/#commentsFiled under: , , , ,

Darkfall
Aventurine continues its trek toward Darkfall's game revamp, aka Darkfall 2.0, and in a new producer letter, Tasos Flambouras drops a few interesting info nuggets to tide loyal players over until the job is done.

He states that the team is retuning each of the game's eight schools of magic so that each one feels more unique and focused. For example, air magic will be specialized to do more damage in close quarters against fewer targets, while fire magic will excel at long-distance AoE attacks.

The team also thinks it has figured out this pesky "death" problem by coming up with a more interesting limbo system. The way it works is that when players are taken down, they have a choice between either respawning back at a bind stone or waiting for a timer to count down to zero and initiate a respawn on the spot. If players opt to endure the limbo period, they can re-equip their characters from their bank boxes.

Aventurine continues to hire on new team members for the project, including a designer who will facilitate communication between devs and the community.

MassivelyDarkfall specializes magic schools, replaces death with limbo system originally appeared on Massively on Fri, 10 Feb 2012 16:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>aventurinebankbank-boxesdarkfalldarkfall-2.0death-penaltydeath-systemdev-diarylimbolimbo-systemmagicmagic-schoolsproducer-letterproducers-letterrespawnschools-of-magicTasos-FlambourasFri, 10 Feb 2012 16:00:00 EST<![CDATA[The Guild Counsel: Guild life in SWTOR]]>http://massively.joystiq.com/2011/12/22/the-guild-counsel-guild-life-in-swtor/http://massively.joystiq.com/2011/12/22/the-guild-counsel-guild-life-in-swtor/http://massively.joystiq.com/2011/12/22/the-guild-counsel-guild-life-in-swtor/#commentsFiled under: , , , , ,

swtor
If you thought the future looked cloudy for guilds in MMOs, Star Wars: The Old Republic's launch stomped out any doubts. The pre-launch list of guilds was so enormous that it rivaled the total player populations of other MMOs. But there are some interesting aspects to guild life in SWTOR, and this week in The Guild Counsel, we'll take a closer look at them.

If you're interested in some first impressions from a guild perspective, or if you're wondering how to make a guild now that the game has launched, read on for a look at guild life in SWTOR.

Continue reading The Guild Counsel: Guild life in SWTOR

MassivelyThe Guild Counsel: Guild life in SWTOR originally appeared on Massively on Thu, 22 Dec 2011 15:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>advicebankbanksbiowarecreating-a-guild-in-swtordialogueeaelectronic-artsfeaturedguildguild-adviceguild-bankguild-counselguild-leadershipguild-managementguildskaren-bryanleadershiplucasartsopinionsci-fistar+wars+the+old+republicstar-warsstar-wars-the-old-republicstarwarstheoldrepublicswtorswtor+guildswtor+guild+bankswtor+guildsswtorguildswtorguildbankswtorguildsthe+old+republicthe-guild-counselthe-old-republictheoldrepublictorvoice-chatThu, 22 Dec 2011 15:30:00 EST<![CDATA[The Daily Grind: Do you banksit?]]>http://massively.joystiq.com/2011/11/14/the-daily-grind-do-you-banksit/http://massively.joystiq.com/2011/11/14/the-daily-grind-do-you-banksit/http://massively.joystiq.com/2011/11/14/the-daily-grind-do-you-banksit/#commentsFiled under: , ,

Banksitting bear is sitting in a bank
In every MMO with a bank, players banksit. OK, so people preferred to cantina-sit in Star Wars Galaxies, and entire guilds banksat in Ultima Online as a show of strength, but they just prove the rule: Gamers love to be seen, and they flock to the most active spots in the game to make sure that happens, even if it means standing around all day pretending to shuffle Very Important Items in their storage vaults while feeling superior to any newbie who enviously inspects their gear. In many cases, players are deliberately banksitting instead of sitting in their player cities, homes, guild halls, or other game-issued gathering spot, like taverns or inns, never mind the fact that said players could be out actually adventuring, and because of that, "banksitting" is almost a dirty word in some MMOs.

So do you banksit? Do you do it while waiting for something more interesting to happen, like a queue popping or your buddy hopping online? Do you do it to people-watch, to see and be seen? Do you banksit to truly feel how massive and busy your chosen game is, to meet new people and enjoy the thrum of activity? Or do you think the whole concept of hanging out at a bank is just as silly in a game as it is in the real world?

Every morning, the Massively bloggers probe the minds of their readers with deep, thought-provoking questions about that most serious of topics: massively online gaming. We crave your opinions, so grab your caffeinated beverage of choice and chime in on today's Daily Grind!

MassivelyThe Daily Grind: Do you banksit? originally appeared on Massively on Mon, 14 Nov 2011 08:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bankbanksbanksitbanksittingbrianna-royce-tdgcantinainnopinionpeople-watchingqueuestar-wars-galaxiesswgtaverntdgthe-daily-grindultima-onlineuoMon, 14 Nov 2011 08:00:00 EST<![CDATA[Enter at your own Rift: Checking out Update 1.3]]>http://massively.joystiq.com/2011/06/29/enter-at-your-own-rift-checking-out-update-1-3/http://massively.joystiq.com/2011/06/29/enter-at-your-own-rift-checking-out-update-1-3/http://massively.joystiq.com/2011/06/29/enter-at-your-own-rift-checking-out-update-1-3/#commentsFiled under: , , , ,

The calm before the storm. That's the best way to describe the RIFT screenshot above. As I puttered around and wasted time trying to frame my screenshot from the ideal angle, working that nomad model to his full potential, I was seconds away from a zone event opening up on my head. Instantly, about 50 gigantic desert warriors emerged to attack us for their leader's amusement. And for the next half hour, Fortune's Shore was overrun with warriors, stone golems, and dog people.

Fortune's Shore isn't the only place to experience chaos and danger, though. Whatever the Dwarves did in Hammerknell, it's finally caught up with them -- and with all of Telara. Abyssal and Endless Court forces are posing a real threat, and the Ascended are now tasked with repelling the invasions and charging back into Hammerknell.

In this week's Enter at your Own Rift, we'll look at a few of the changes from Update 1.3. Read on for a look at tithes, character transfers, trial servers, and towering colossi!

Continue reading Enter at your own Rift: Checking out Update 1.3

MassivelyEnter at your own Rift: Checking out Update 1.3 originally appeared on Massively on Wed, 29 Jun 2011 18:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bankbless-wardstonecolossusenter-at-your-own-riftfeaturedguild-bankriftrift-invasionsshimmersandtithetransferstrial-serverstriontrion-worldsupdate-1.3vaultwardstoneswaves-of-madnesszone-eventsWed, 29 Jun 2011 18:00:00 EST<![CDATA[Enter at Your Own Rift: Sightseeing in Sanctum]]>http://massively.joystiq.com/2011/01/19/enter-at-your-own-rift-sightseeing-in-sanctum/http://massively.joystiq.com/2011/01/19/enter-at-your-own-rift-sightseeing-in-sanctum/http://massively.joystiq.com/2011/01/19/enter-at-your-own-rift-sightseeing-in-sanctum/#commentsFiled under: , , , ,

One of the things I love about RIFT is its smaller, more intimate feel. Don't get me wrong -- there's still plenty of space to explore and get lost in, but the space that is present is used to great effect and isn't just there to make it seem bigger for bigger's sake. This is echoed in the two capital cities of the game, Sanctum (Guardian) and Meridian (Defiant). Both are gorgeously detailed and impressive in their own way, yet they're comfortable and accessible instead of sprawling and vast.

If one thinks of the quest hubs, camps and villages dotting the world as mom and pop stores, then the capital cities are the Walmarts of RIFT: one-stop shops for all your character's needs. They're both fairly compact, although I found myself preferring Sanctum's beachfront atmosphere and circular layout over Meridian's underground labyrinth.

Because all players will be traveling to and extensively using capital cities during the course of their in-game careers, I figured we might as well take a look at what capital cities -- Sanctum specifically -- have to offer. Jump on our people-mover as we wind our way through the sights and sounds of civilization!

Continue reading Enter at Your Own Rift: Sightseeing in Sanctum

MassivelyEnter at Your Own Rift: Sightseeing in Sanctum originally appeared on Massively on Wed, 19 Jan 2011 14:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>artifact-masterartifactsauction-houseauctioneerbankcapital-citiescapital-cityclass-trainerscollectionscraftingcrafting-trainersdefiantdyedyesfactionfaction-vendorsfactionsfeaturedguardianmeridianmitchmountsmr-mailboxporticulumporticulum-masterprofessionspvpriftrift-planes-of-telarariftpertssanctumsoul-trainerssoulstelaratriontrion-worldswal-martWed, 19 Jan 2011 14:00:00 EST<![CDATA[The Road to Mordor: Near-Death Adventures (NDA) lifted!]]>http://massively.joystiq.com/2010/08/06/the-road-to-mordor-near-death-adventures-nda-lifted/http://massively.joystiq.com/2010/08/06/the-road-to-mordor-near-death-adventures-nda-lifted/http://massively.joystiq.com/2010/08/06/the-road-to-mordor-near-death-adventures-nda-lifted/#commentsFiled under: , , , , ,

In case you were wondering, I'm part of the crowd that doesn't really believe in non-disclosure agreements (NDAs). Oh, if I agree to one I'll stick to it and keep my word, don't get me wrong. What I mean is that I don't believe in the usefulness of NDAs, particularly in a day and age when all the information is available anyway -- this is, after all, the omniscient internet. Not to mention that by trying to keep a lid on testers and prevent them from sharing their experiences, companies tend to suppress the positive accolades (those are the people who want to keep playing, after all) while letting the badmouthers escape to tell their tale (they don't care if they break the NDA, because they're not going to play anyway).

But my personal feelings aside, the brief NDA lockdown on the upcoming LotRO F2P edition (hey Turbine, can we get a name for this yet? LotRO Unlimited? Free-Range LotRO?) has lifted and testers have swarmed out from under its veil to share their stories and thoughts. I'd be remiss if we didn't spend some time this week looking at what people have to say about all of the changes, additions and updates to the game -- not to mention the looming specter of the LotRO store.

Let us see what is to be seen as we scout the forums and blogosphere: LotRO exposed, uncovered, dissected and digested for the good of all. I've pulled salient quotes to help give you an idea how the beta is progressing thus far -- and remember, it is still in beta. Everything here is quite subject to change by the time LotRO II: Hobbit Boogaloo launches.

Continue reading The Road to Mordor: Near-Death Adventures (NDA) lifted!

MassivelyThe Road to Mordor: Near-Death Adventures (NDA) lifted! originally appeared on Massively on Fri, 06 Aug 2010 10:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>aggro-reductionarmor-setbankbetablogospherecash-shopdirectx-11enedwaithf2pfall-festivalfeaturedforumsfree-range-lotrofree-to-playftpgreat-barrowshaunted-cellarhobbit-boogalooi-am-for-sale-for-500-tpinstance-scalingitem-shoplord-of-the-rings-onlinelotrolotro-iilotro-storelotro-unlimitedlualua-scriptmountsndapvptemporary-mountsthe-road-to-mordorturbineturbine-pointsturbine-storewardrobeFri, 06 Aug 2010 10:00:00 EST<![CDATA[Entropia Universe to operate real-world bank with virtual world presence]]>http://massively.joystiq.com/2009/03/23/entropia-universe-to-have-real-world-bank-with-virtual-world-pre/http://massively.joystiq.com/2009/03/23/entropia-universe-to-have-real-world-bank-with-virtual-world-pre/http://massively.joystiq.com/2009/03/23/entropia-universe-to-have-real-world-bank-with-virtual-world-pre/#commentsFiled under: , , , ,


Most of our virtual world coverage at Massively is focused on Second Life, but we're still keeping an eye on what's happening beyond the walls of Linden Lab. One significant development revealed this past week is that Entropia Universe will be the first virtual world to have a bank that's actually backed and regulated by a real-world government, called Mind Bank AB.

We received word on this from MindArk's PR: "The Swedish Financial Supervisory Authority (Finansinspektionen) has granted a license to conduct banking activities to virtual universe developer MindArk PE AB's wholly owned subsidiary Mind Bank AB. The unique step of integrating MindArk's virtual universe Entropia Universe with the real world will allow Mind Bank AB to function as a central bank for all virtual worlds within the Entropia Universe."

Continue reading Entropia Universe to operate real-world bank with virtual world presence

MassivelyEntropia Universe to operate real-world bank with virtual world presence originally appeared on Massively on Mon, 23 Mar 2009 16:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>ars-technicabankbankingbankseconomyentropiaentropia-universemichael-thompsonmind-bankmind-bank-abmindarkpedsci-fiswedenvirtual-currencyvirtual-worldsMon, 23 Mar 2009 16:00:00 EST<![CDATA[EVE Community Spotlight: LaVista Vista]]>http://massively.joystiq.com/2009/03/03/eve-community-spotlight-lavista-vista/http://massively.joystiq.com/2009/03/03/eve-community-spotlight-lavista-vista/http://massively.joystiq.com/2009/03/03/eve-community-spotlight-lavista-vista/#commentsFiled under: , , , , , ,

The idea of players being elected as representatives of the subscriber base is a dimension to EVE Online that sets it apart from all other MMOs. This player-elected Council of Stellar Management works with the sci-fi title's developer, CCP Games, to ensure that the game design and balancing of EVE Online reflects the interests of the subscribers. Player politics related to a divisive community of gamers can be complicated, however.

Since its inception, the Council of Stellar Management has faced intense criticism and no small amount of skepticism about how effective they will ultimately be. In other words -- EVE's Council of Stellar Management is a fairly accurate simulation of how the public reacts to real-world governance. Still, some of the original CSM delegates chose to stick it out and seek re-election for a second term. One of those delegates, now in his second term in office, is LaVista Vista. He's well-known to the EVE community for his level-headed approach to balancing the game and his experience with the different 'walks of life' of EVE's playstyles. These qualities make him an ideal representative of the interests of the players themselves and it came as little surprise that he was re-elected.

Massively recently caught up with LaVista Vista, who was happy to discuss some of his experiences as a dedicated EVE player as well as a Council of Stellar Management representative.

Continue reading EVE Community Spotlight: LaVista Vista

MassivelyEVE Community Spotlight: LaVista Vista originally appeared on Massively on Tue, 03 Mar 2009 16:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>alliancesbankbanksccp-gamescouncil-of-stellar-managementcsmcultureebankeconomyelectionseveeve-community-spotlighteve-onlinefeaturedfinancegame-mechanicsguildsinterviewsjoystiqfeatureslavista-vistalotka-volterramassively-interviewspiracysci-fivetoTue, 03 Mar 2009 16:00:00 EST<![CDATA[The Daily Grind: Are you an in-game pack rat?]]>http://massively.joystiq.com/2009/02/08/the-daily-grind-are-you-an-in-game-pack-rat/http://massively.joystiq.com/2009/02/08/the-daily-grind-are-you-an-in-game-pack-rat/http://massively.joystiq.com/2009/02/08/the-daily-grind-are-you-an-in-game-pack-rat/#commentsFiled under: , , ,

Hi everyone. My name is Krystalle Voecks, and I am an in-game pack rat. My bank in World of Warcraft holds tons of random things like tabards, trinkets, and a bunch of holiday clothing that I picked up along the way. In City of Heroes, my vault is maxed out with higher-end salvage which I'm stockpiling for the day when I settle down and start grinding IO Enhancements for the various badges. I'm also generally only one or two spots away from being full on Wentworths' as well. The same holds true in pretty much every MMO I play, from EverQuest to EVE Online. If I have a room, chances are I'm going to hold on to something just in case I can use it later. That said, it seems to be a pretty common problem from what I hear from talking to other players, so I know I'm not alone in holding on to things for sentimental or 'potentially useful someday' reasons.

This morning we thought we'd ask just how prevalent this is among MMO players - and Massively readers. Are you also something of an in-game packrat? Do you have lots of things stocked up in case you might use them? Or do you unload anything you can't immediately use via in-game markets or private sales, preferring to keep your storage nice and clean?

MassivelyThe Daily Grind: Are you an in-game pack rat? originally appeared on Massively on Sun, 08 Feb 2009 08:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bankclutterguild-bankhangarpack-ratpackratstoragetdgthe-daily-grindSun, 08 Feb 2009 08:00:00 EST<![CDATA[Over 80 billion ISK embezzled from player-run bank in EVE Online]]>http://massively.joystiq.com/2009/01/21/eve-online-player-embezzles-over-80-billion-isk-from-dynasty-ban/http://massively.joystiq.com/2009/01/21/eve-online-player-embezzles-over-80-billion-isk-from-dynasty-ban/http://massively.joystiq.com/2009/01/21/eve-online-player-embezzles-over-80-billion-isk-from-dynasty-ban/#commentsFiled under: , , , ,


The player-driven economy of EVE Online is a major draw for gamers interested in virtual finance, although for very different reasons; some players enjoy managing vast funds in the game, others are primarily in it for a shot at a major heist. Sometimes, even those who start out with the best intentions succumb to temptation. Regardless of the motivations one has to build up (or tear down) something in the game, left up to their own devices, some EVE players aren't simply content with the existing game mechanics when it comes to financial instruments. As such, they've established their own banks, IPOs, and other types of investments.

The more reputable banks and funds have built-in safeguards that limit any one employee's access to the deposited ISK, as -- let's face it -- this is EVE and such contingencies are necessary. More than a few players eye that cache of billions of raw ISK, Blueprint Originals, and other assets, and simply want to pull a runner. This has been the case just this week, with the player-run Dynasty Banking, which was apparently taken for billions of ISK by Xabier, the former Dynasty Investments Manager who had access to funds invested by EVE's playerbase.

Continue reading Over 80 billion ISK embezzled from player-run bank in EVE Online

MassivelyOver 80 billion ISK embezzled from player-run bank in EVE Online originally appeared on Massively on Wed, 21 Jan 2009 18:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bankbanksbreakingdynasty-bankingebankeconomyembezzlementeveeve-onlineipoiskmanalapannew-edenricdicsci-fitheftvirtual-currencyxabierWed, 21 Jan 2009 18:00:00 EST<![CDATA[CEO of CCP Games addresses EVE's continuity through turbulent times]]>http://massively.joystiq.com/2008/10/16/ceo-of-ccp-games-addresses-eves-continuity-through-turbulent-ti/http://massively.joystiq.com/2008/10/16/ceo-of-ccp-games-addresses-eves-continuity-through-turbulent-ti/http://massively.joystiq.com/2008/10/16/ceo-of-ccp-games-addresses-eves-continuity-through-turbulent-ti/#commentsFiled under: , , , , , ,


Recent world events and their impact on global finance threaten to have dramatic consequences on the game industry. While an economic downturn isn't something to be taken lightly, it is unique in comparison with similar problems in the past -- now real world economic issues can potentially ripple into virtual economies, just as they certainly impact the companies who create MMOs and virtual worlds. CCP Games, founded in Reykjavik, Iceland, is a case-in-point.

There has been commentary and speculation among EVE Online's playerbase and in the media about how Iceland's economic woes may impact the game. The CEO of CCP Games, Hilmar V. Pétursson, (aka CCP Hellmar) addresses these concerns in his dev blog, "Born Global."

Continue reading CEO of CCP Games addresses EVE's continuity through turbulent times

MassivelyCEO of CCP Games addresses EVE's continuity through turbulent times originally appeared on Massively on Thu, 16 Oct 2008 17:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bankbankingbanksbusiness-modelsccpccp-gamesccp-hellmardevdev-blogeconomyeveeve-64eve-fanfesteve-fanfest-2008eve-onlineeve64fanfestgbphilmar-peturssonhilmar-v-peturssonicelandiskmmo-industryreykjavikrmbsci-fistacklessiousdThu, 16 Oct 2008 17:30:00 EST<![CDATA[Real world economic impact on MMOs and virtual worlds? ]]>http://massively.joystiq.com/2008/10/15/real-world-economic-impact-on-mmos-and-virtual-worlds/http://massively.joystiq.com/2008/10/15/real-world-economic-impact-on-mmos-and-virtual-worlds/http://massively.joystiq.com/2008/10/15/real-world-economic-impact-on-mmos-and-virtual-worlds/#commentsFiled under: , , , , , , ,

Given the drastic real world economic shifts of late, is it unreasonable to assume that there will be repercussions in virtual worlds and MMOs? That's the gist of a question posed by CBBC, a longtime commentator at the Terra Nova blog, but specifically he asks: "What now for virtual economies? What happens to EVE now that Iceland's economy is collapsing?... Will my WoW gold be worth more or less? Will games go under taking their value with them? Will we see a run on games the same as a run on banks?"

While his questions aren't focused solely on EVE Online, and are more of a general inquiry, CCP's title is not surprisingly the main example cited by both the CBBC and Terra Nova's readers. As expected, the responses to the question are intelligent and shed some more light on how real world economics might affect MMO economies, namely that of EVE Online. Some speculate that real world issues will result in increased escapism, imbuing virtual worlds and their economies with greater significance. Others related financial scenarios that affect CCP Games and its virtual economics. If you're interested in the economies of MMOs and virtual worlds, you might want to get involved in the discussion of "Whither MMO economies?" over at Terra Nova.

MassivelyReal world economic impact on MMOs and virtual worlds? originally appeared on Massively on Wed, 15 Oct 2008 18:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>academicbankbanksbusiness-modelscbbcccpccp-gamescurrencyeconomicseconomyeveeve-onlinegoldicelandiskmmo-industryopinionreykjaviksci-fiterra-novavirtual-currencyvirtual-economyvirtual-worldsworld-of-warcraftwowWed, 15 Oct 2008 18:00:00 EST<![CDATA[EVE Evolved: Money for nothing]]>http://massively.joystiq.com/2008/09/01/eve-evolved-money-for-nothing/http://massively.joystiq.com/2008/09/01/eve-evolved-money-for-nothing/http://massively.joystiq.com/2008/09/01/eve-evolved-money-for-nothing/#commentsFiled under: , , , , , , , , ,


In most MMOs, making currency without actually playing usually involves rule-breaking macro-farming which risks getting your account banned. In EVE Online, however, a number of viable options exist for making ISK with absolutely no effort. From hiring research and development agents to public investment schemes and even a player-run bank, there are plenty of ways to make ISK in EVE without even logging in.

Investment Schemes:
In the market discussion forums, players can sell shares in their company and present a business plan to potential investors. The corporation receives ISK in exchange for its shares and agrees to make regular dividend payments to all shareholders. Buyers have to trust that the company owner won't just run off with their ISK, so only the most trustworthy players have managed to successfully start very large investment schemes.

In this article, I look at the different ways you can make ISK with virtually no effort, in some cases even if your account is inactive.

Continue reading EVE Evolved: Money for nothing

MassivelyEVE Evolved: Money for nothing originally appeared on Massively on Mon, 01 Sep 2008 11:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bankblueprintccpeveeve-evolvedeve-onlinefeaturedfreeinvestinvestmentiskjoystiqfeatureskillboardmoneyrentstock marketStockMarketMon, 01 Sep 2008 11:00:00 EST<![CDATA[Opinion - user-operated banks]]>http://massively.joystiq.com/2008/01/11/opinion-user-operated-banks/http://massively.joystiq.com/2008/01/11/opinion-user-operated-banks/http://massively.joystiq.com/2008/01/11/opinion-user-operated-banks/#commentsFiled under: , , , ,

In the wake of Linden Lab's ban on unregistered Second Life banks, we may as well go out on a limb a little and present an opinion on the situation - and potentially unpopular one at that.

If you want the short, short version, it goes 'WTF'. Everyone else, grab a coffee.

Continue reading Opinion - user-operated banks

MassivelyOpinion - user-operated banks originally appeared on Massively on Fri, 11 Jan 2008 11:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bankeconomyeve-onlinefeaturedingopinionpaypalsecond-lifeFri, 11 Jan 2008 11:00:00 EST<![CDATA[Linden Lab cracks down on Second Life Banks]]>http://massively.joystiq.com/2008/01/08/linden-lab-cracks-down-on-second-life-banks/http://massively.joystiq.com/2008/01/08/linden-lab-cracks-down-on-second-life-banks/http://massively.joystiq.com/2008/01/08/linden-lab-cracks-down-on-second-life-banks/#commentsFiled under: , ,

Linden moneyIn an announcement that has snuck on to the official Linden blog, Linden Lab has announced that anyone running a bank in Second Life will have to produce "proof of an applicable government registration statement or financial institution charter" or have their content removed starting in two weeks time. This follows the collapse of Ginko, which we covered in exhaustive detail, and complaints that several other banks have defaulted on their 'promises' and are still advertising unsustainably high interest rates (which is, of course, part of their attraction too).

The wording affects anyone offering interest payments, which means, I believe it will also affect WSE's practises - they offer a low rate of interest on saved money, although a normal stock exchange business would still permissible since dividends aren't interest as I understand the law.

It will be interesting to see if any of the banks survive this transition, and if they don't, what comes along in their place. It will also be interesting to see if there is a run on the banks now.

MassivelyLinden Lab cracks down on Second Life Banks originally appeared on Massively on Tue, 08 Jan 2008 14:45:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bankbreakingchartereconomyginkolinden-dollarsLinden-LabSecond-LifeWSETue, 08 Jan 2008 14:45:00 EST<![CDATA[How legal are virtual banks and stock exchanges?]]>http://massively.joystiq.com/2007/12/07/how-legal-are-virtual-banks-and-stock-exchanges/http://massively.joystiq.com/2007/12/07/how-legal-are-virtual-banks-and-stock-exchanges/http://massively.joystiq.com/2007/12/07/how-legal-are-virtual-banks-and-stock-exchanges/#commentsFiled under: , , ,

A recurring question, amid the forest of what might be legitimate failures and mismanaged enterprises or might just be scams, is just how legal are the banks and stock exchanges that operate alongside and inside various MMOs and Virtual Worlds such as Second Life.

As seems to be usual with legal matters, a simple question doesn't yield a simple answer.

Continue reading How legal are virtual banks and stock exchanges?

MassivelyHow legal are virtual banks and stock exchanges? originally appeared on Massively on Fri, 07 Dec 2007 01:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>asicbankeconomyginkolegalopinionsecond-lifestock-exchangeworld-stock-exchangewseFri, 07 Dec 2007 01:00:00 EST<![CDATA[Several Second Life banks hacked - millions stolen]]>http://massively.joystiq.com/2007/11/20/severalsecond-life-banks-hacked/http://massively.joystiq.com/2007/11/20/severalsecond-life-banks-hacked/http://massively.joystiq.com/2007/11/20/severalsecond-life-banks-hacked/#commentsFiled under: , ,

MoneyThe last few days have seen some consternation in the Second Life economic markets as several banks have had their servers brute-forced hacked. Understandably there is a fair amount of uncertainty as some of the affected parties are being less than forthcoming, but according to Nobody Fugazi, normally a reliable commentator, the following banks have been attacked, although SLIB seems to have escaped without any loses:
  • L&L Bank and Trust
  • SL Investor's Bank
  • Giovinazzo Choice Investments
  • Whitfield Holdings/Royal Invest
  • SL Business Bank
LNLBT has publicly stated it has lost over US$11,000 (about L$3,000,000) and has currently suspended trading. LNLBT has also notified the governance team at LL and is working with them. One has to wonder when the police or FBI will be involved too. Hacking a server for cash is a criminal offense in most places, and although US$11,000 isn't the biggest fraud in the world, it's not something you're likely to see ignored.

Continue reading Several Second Life banks hacked - millions stolen

MassivelySeveral Second Life banks hacked - millions stolen originally appeared on Massively on Tue, 20 Nov 2007 11:01:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bankbreakingeconomyFBIregulationSecond-Lifesecuritiesserver-hackTue, 20 Nov 2007 11:01:00 EST