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[Free for All: EVE drama due to bolster waning TV soap schedule]]>http://massively.joystiq.com/2011/07/06/free-for-all-eve-drama-due-to-bolster-waning-tv-soap-schedule/http://massively.joystiq.com/2011/07/06/free-for-all-eve-drama-due-to-bolster-waning-tv-soap-schedule/http://massively.joystiq.com/2011/07/06/free-for-all-eve-drama-due-to-bolster-waning-tv-soap-schedule/#commentsFiled under: , , , , , , , ,

Much was said recently about the latest EVE Online "drama." If you've talked and written about MMORPGs as long as I have, you'd be very rich if you were paid a nickel every time you heard the word. Drama, when applied to the world of MMOs, ends up feeling like a funeral for an insect... more than a little dramatic. As someone who has played EVE a bit off and on (I have a six-year-old account, but only a 10,000,000-SP character), I was more than a little surprised at the response -- but not really surprised.

In fact, the recent drama -- hell, any EVE drama -- comes off as rather humorous. The same thing happened when World of Warcraft began selling the infamous sparklepony or when Lord of the Rings Online decided to sell a special skeleton steed in its cash shop (I was lucky enough to get one during the holiday event). Players screamed that they would be canceling, that they would protest in some form or another, and that they would never buy a product from the developer, go anywhere near anyone who shared the same name as any of the developers, or even utter the name of their poor, lost avatars again. Yet, here we are.

Every time something like this happens, it happens for a few distinct reasons. Click past the cut and I'll fill you in.

Continue reading Free for All: EVE drama due to bolster waning TV soap schedule

MassivelyFree for All: EVE drama due to bolster waning TV soap schedule originally appeared on Massively on Wed, 06 Jul 2011 18:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>beau-hindmcash-shopccpCCP-Gamesdramadramaticeveeve-onlinefeaturedfree-for-alliskMicrotransactionsmonoclemonoclegatereallybigtransactionsvirtual-currencyvirtual-goodsWed, 06 Jul 2011 18:00:00 EST<![CDATA[FBI raids University of Michigan apartment over possible WoW fraud]]>http://massively.joystiq.com/2011/04/14/fbi-raid-university-of-michigan-apartment-over-possible-wow-frau/http://massively.joystiq.com/2011/04/14/fbi-raid-university-of-michigan-apartment-over-possible-wow-frau/http://massively.joystiq.com/2011/04/14/fbi-raid-university-of-michigan-apartment-over-possible-wow-frau/#commentsFiled under: , , , ,

A University of Michigan student apartment became the focus of a recent investigation by the FBI, which conducted a raid on March 30th over "potentially fraudulent sales or purchases of virtual currency that people use to advance in the popular online role-playing game World of Warcraft."

While the FBI did not make any arrests, it did confiscate several items, including computers, video game equipment, and credit cards. The Bureau is checking out whether one or both of the students were involved in a fraudulent scheme to buy or sell virtual gold, and the agency is looking for online transaction records with various online banks and websites.

The two students who share the apartment claim that they do not play WoW and are confident that they are innocent. One of the unnamed students commented: "They thought we were involved in some kind of fraud. I'm pretty sure they have the wrong people, but they took all my stuff."

MassivelyFBI raids University of Michigan apartment over possible WoW fraud originally appeared on Massively on Thu, 14 Apr 2011 10:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>ann-arborfbifederal-bureau-of-investigationsfraudgold-buyinggold-farminggold-sellingillegalmichiganraidrmtuniversity-of-michiganuniversity-towersvirtual-currencyvirtual-goldworld-of-warcraftwowThu, 14 Apr 2011 10:30:00 EST<![CDATA[BBC suggests gold farming may bolster poorer economies]]>http://massively.joystiq.com/2011/04/08/bbc-suggests-gold-farming-may-bolster-poorer-economies/http://massively.joystiq.com/2011/04/08/bbc-suggests-gold-farming-may-bolster-poorer-economies/http://massively.joystiq.com/2011/04/08/bbc-suggests-gold-farming-may-bolster-poorer-economies/#commentsFiled under: , , , ,

Who says gold farmers are devilspawn and deserving of a fate worse than death? Well, a lot of MMO gamers say that, but a news blurb on the BBC's website suggests that some virtual currency farmers may have a higher purpose after all.

Citing a report at InfoDev.org, the BBC posits that gold farmers are simply filling a role in the global supply and demand economy. "Western players who have limited time for gaming are buying game cash, gear and high level characters from people in China and Vietnam that are paid to play as a job," the article states.

The BBC also notes that the most recent global virtual sales estimates put the total market worth in the neighborhood of $3 billion. Approximately 30% of that is generated by legit players, 50% comes from bot farms, and the remaining 20% is pilfered from compromised accounts. Whether or not you tremble in anger at the thought of MMO gold farming or dismiss it as a modern-day reality, it seems as if it's here to stay, and according to the BBC, it might even provide economic aid to poor nations. "The virtual economy can have a significant impact on local economies despite its modest size," according to the article.

MassivelyBBC suggests gold farming may bolster poorer economies originally appeared on Massively on Fri, 08 Apr 2011 11:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bbcbot-farmingbotsbusinessbusiness-modelsdeveloping-nationseconomyfarmersfarminggold-farmersgold-farmingmmo-industryvirtual-currencyvirtual-economyFri, 08 Apr 2011 11:00:00 EST<![CDATA[Free for All: How much for a ten-spot?]]>http://massively.joystiq.com/2010/09/29/free-for-all-how-much-for-a-ten-spot/http://massively.joystiq.com/2010/09/29/free-for-all-how-much-for-a-ten-spot/http://massively.joystiq.com/2010/09/29/free-for-all-how-much-for-a-ten-spot/#commentsFiled under: , , , , , , ,

In this week's Free for All, I decided to check out some cash-shop games to see what I might get for 10 U.S. dollars. For the record, some games can be subscription-based and still have cash shops, and some games can have cash shops that have been redesigned and tweaked so that they do not fit into the same old "cash-shop" model. For clarity, I stuck to cash shops that normally pop up while you're in-game -- usually inside their own window. Sometimes, though, the cash shops might be accessed or found on the games' main websites, as well.

It was hard to choose, being that I generally don't buy from cash shops any more. It takes a very special product (like Wurm Online's currency) to get me to pay, namely because I do not spend as much time in a single game as I used to. Actually, let me rephrase that before someone starts to write a comment based on that statement: I still spend a lot of time in certain games, like anyone else, but my pace has slowed. Most of the cash-shop items out there are convenience items -- simply time-travel devices that allow the player to speed up his experience. Since I have all the time in the world because of the free nature of these games, speeding up is not something I am interested in.

So, let's look at a few cash shops to see what piqued my interest!

Continue reading Free for All: How much for a ten-spot?

MassivelyFree for All: How much for a ten-spot? originally appeared on Massively on Wed, 29 Sep 2010 13:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>allods-onlinebeau-hindmancash-shopEQ2eq2xEQIIeqII-extendedEverQuest-2everquest-iif2pfeaturedfree-for-allfree-to-playfreemiumftpgpotatokingsislekingsisle-entertainmentMicrotransactionsonetoofreeonetoofree-abSOESony-Online-Entertainmentvelvet-ropevirtual-currencywest-karanawizard-101wurm-onlineWed, 29 Sep 2010 13:00:00 EST<![CDATA[EVE Morning Report provides news-style daily snapshot of game's economy]]>http://massively.joystiq.com/2009/11/23/eve-morning-report-provides-news-style-daily-snapshot-of-games/http://massively.joystiq.com/2009/11/23/eve-morning-report-provides-news-style-daily-snapshot-of-games/http://massively.joystiq.com/2009/11/23/eve-morning-report-provides-news-style-daily-snapshot-of-games/#commentsFiled under: , , ,


EVE Online is a game that can be different things to different people. While some players are intent on the destruction of their fellow capsuleers, others prefer to focus on other aspects of the game like trading and mass production. After all, EVE's setting of New Eden is one largely dominated by megacorporations. For those involved in the complexities of the game's economic side, having frequent snapshots of New Eden's virtual economy would be a boon. The game's would-be tycoons now have this, thanks to EVE Online player Utemetsu and the EVE Morning Report -- short, 5-minute audio recordings released daily that convey information about major commodities traded on the open market in New Eden.

EVE Morning Report with Erik Mumm is presented in the style of NPR or the Marketplace Morning Report. It also provides players with the graphed price history of major commodities, captured from the in-game tools. The sponsors of the EVE Morning Report are other players whose various services are mentioned each day in exchange for their patronage. Although Utemetsu's program has only been running for a few days, EVE Morning Report is already expanding to include interviews with New Eden's marketeers. Individual EVE players, corporations, or alliances interested in sponsoring EVE Morning Report can contact Erik (Utemetsu) via email or let him know in the program's thread on the official EVE forums.

MassivelyEVE Morning Report provides news-style daily snapshot of game's economy originally appeared on Massively on Mon, 23 Nov 2009 16:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>ccpccp-gameseconomyerik-mummeveeve-morning-reporteve-onlineinterstellar-kreditisknew-edenpodcastssci-fiutemetsuvirtual-currencyvirtual-economyMon, 23 Nov 2009 16:00:00 EST<![CDATA[New legislation in China outlaws gold farming]]>http://massively.joystiq.com/2009/06/29/new-legislation-in-china-outlaws-gold-farming/http://massively.joystiq.com/2009/06/29/new-legislation-in-china-outlaws-gold-farming/http://massively.joystiq.com/2009/06/29/new-legislation-in-china-outlaws-gold-farming/#commentsFiled under: , , ,

Gold farmers. We know you hate them... We know. And we've mentioned the associated gold spam as being the bane of many MMO players' existence a number of times in the past. But is the situation ever going to change?

Perhaps, given the new legislation coming out of China this week. Of course while all gold farmers certainly aren't based in China, a substantial percentage of gold farming operations are in fact run from the country. Such operations may now find themselves under greater scrutiny by the Chinese authorities; the government has now established its first official rule on the use of virtual currency in China.

Essentially, it states that virtual currency cannot leave the sphere of influence of its issuer. (Exact wording: "The virtual currency, which is converted into real money at a certain exchange rate, will only be allowed to trade in virtual goods and services provided by its issuer, not real goods and services.") If the law is actually obeyed and enforced, it would curb all manner of black market activities in China connected with the virtual.

Continue reading New legislation in China outlaws gold farming

MassivelyNew legislation in China outlaws gold farming originally appeared on Massively on Mon, 29 Jun 2009 18:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>asiablack-marketbreakingchinaeconomygoldgold-farmergold-farminglawlegalministry-of-commerceministry-of-culturemmo-industryrulesvirtual-currencyvirtual-goodsMon, 29 Jun 2009 18:00:00 EST<![CDATA[EVE Online's largest player-run bank rocked by embezzlement]]>http://massively.joystiq.com/2009/06/10/eve-onlines-largest-player-run-bank-rocked-by-embezzlement/http://massively.joystiq.com/2009/06/10/eve-onlines-largest-player-run-bank-rocked-by-embezzlement/http://massively.joystiq.com/2009/06/10/eve-onlines-largest-player-run-bank-rocked-by-embezzlement/#commentsFiled under: , ,


We've just gotten word that EBANK, a player-run bank in EVE Online self-described as "the largest financial entity ever seen in EVE" has been rocked by embezzlement from its own CEO, Ricdic. The former CEO stole roughly 200 billion ISK from EBANK, which is roughly 8.6% of the entire 2.3 trillion ISK that EVE's playerbase has deposited. EBANK chairman Hexxx has issued a statement on the game's official forums, stating that Ricdic has been banned by CCP Games for engaging in RMT, also adding that the former CEO "has scammed."

The loss of nearly 9% of EBANK's deposits is a serious blow to the player-run institution, perhaps as much to investor confidence in the bank as it is to their funds, but Hexxx says their liquidity is still between 400 billion and 500 billion ISK. A June 6th news item on the EBANK site written by bank auditor LaVista Vista states, "We are currently experiencing some technical problems. Therefore, we ask that people do not deposit any ISK, until we have solved the problem." EBANK's director and head teller Athre has now assumed the role of interim CEO, as the EBANK staff determines the best way forward from here.

Continue reading EVE Online's largest player-run bank rocked by embezzlement

MassivelyEVE Online's largest player-run bank rocked by embezzlement originally appeared on Massively on Wed, 10 Jun 2009 12:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>athrebanbankingbannedbansbreakingccp-gamesebankeconomyembezzlementforumshexxxisklavista-vistaplayer-run-venturesricdicrmtscamscandaltheftthieftrustvirtual-currencyWed, 10 Jun 2009 12:30:00 EST<![CDATA[A closer look at revenues in free-to-play MMOs]]>http://massively.joystiq.com/2009/06/10/a-closer-look-at-revenues-in-free-to-play-mmos/http://massively.joystiq.com/2009/06/10/a-closer-look-at-revenues-in-free-to-play-mmos/http://massively.joystiq.com/2009/06/10/a-closer-look-at-revenues-in-free-to-play-mmos/#commentsFiled under: , , , , ,


The free-to-play business model in the MMO industry is one that lets users play a game for free in hopes that a percentage of that userbase will opt to embrace microtransactions, allowing F2P game operators to potentially bring in more revenue per month than they would maintain through subscription fees. We periodically see announcements of yearly revenue from some of the larger companies, but these figures are typically announcements of average revenue per paying user (ARPPU), emphasis on 'paying'. But how much money are free-to-play MMOs really making? This is the subject of an article at Gamasutra written by Paul Hyman titled, 'What Are The Rewards Of 'Free-To-Play' MMOs?"

Hyman catches up with Raph Koster (Metaplace), Daniel James from Three Rings Design (Puzzle Pirates), and Jeremy Liew from Lightspeed Venture Partners (a funding source for F2P MMOs) to discuss the microtransaction model.

Continue reading A closer look at revenues in free-to-play MMOs

MassivelyA closer look at revenues in free-to-play MMOs originally appeared on Massively on Wed, 10 Jun 2009 09:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>arppuarpudaniel-jamesf2pfree-to-playgamasutrainterviewsjeremy-lliewlightspeed-venture-partnersmetaplacemicrotransactionspaul-hymanpuzzle-piratesraph-kosterthree-rings-designvirtual-currencyvirtual-goodsWed, 10 Jun 2009 09:00:00 EST<![CDATA[Outspark to reward Fiesta's fastest levelers with 1 million Spark Cash]]>http://massively.joystiq.com/2009/05/31/outspark-to-reward-fiestas-fastest-levelers-with-1-million-spar/http://massively.joystiq.com/2009/05/31/outspark-to-reward-fiestas-fastest-levelers-with-1-million-spar/http://massively.joystiq.com/2009/05/31/outspark-to-reward-fiestas-fastest-levelers-with-1-million-spar/#commentsFiled under: , , ,


The free-to-play game Fiesta from publisher Outspark has announced the game's "Race for 1,000,000" contest, which will be held in tandem with the launch of Fiesta's newest server Cypion on June 3rd. In celebration of the opening, Outspark will give 1,000,000 Spark Cash to the first three players to reach the game's level cap of 105.

The promotion's site is counting down to the Cypion launch, at which time more info (namely rules and restrictions) about "Race for 1,000,000" will be posted.

MassivelyOutspark to reward Fiesta's fastest levelers with 1 million Spark Cash originally appeared on Massively on Sun, 31 May 2009 16:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>contestsfiestafree-to-playgoldoutsparkspark-cashvirtual-currencySun, 31 May 2009 16:00:00 EST<![CDATA[Runes of Magic community manager Jörg Koonen on game currencies and reducing gold spam]]>http://massively.joystiq.com/2009/05/31/runes-of-magic-community-manager-jorg-koonen-on-game-currencies/http://massively.joystiq.com/2009/05/31/runes-of-magic-community-manager-jorg-koonen-on-game-currencies/http://massively.joystiq.com/2009/05/31/runes-of-magic-community-manager-jorg-koonen-on-game-currencies/#commentsFiled under: , , , , , ,


With only two months of operation under its belt, fantasy game Runes of Magic already seems to be enjoying a great deal of popularity. Runes of Magic uses the free-to-play business model, which is discussed in an interview with community manager Jörg "Kerensky" Koonen. Sam "Azerian" Maxted from ZAM caught up with Koonen to discuss the game's launch and where the title is headed in future updates, but their talk quickly turned to some of the details of how the game's economy operates.

Koonen discusses how players have responded to Runes of Magic's microtransaction system through the in-game Item Shop, and that by design the Item Shop doesn't sell certain types of items. "We do not sell any weapons or armour or such," he says. "All of this has to be collected by the players through the game." However, Runes of Magic also uses non-microtransaction currencies and some players are concerned that their gold lacks real value in the game. Koonen says that the developers are looking into this. They're presently gathering feedback from the playerbase and are willing to introduce other measures, if necessary, to ensure that non-microtransaction currencies serve a purpose in RoM.

Continue reading Runes of Magic community manager Jörg Koonen on game currencies and reducing gold spam

MassivelyRunes of Magic community manager Jörg Koonen on game currencies and reducing gold spam originally appeared on Massively on Sun, 31 May 2009 15:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>azerianbusiness-modelseconomyf2pfantasyflesh-eating-locustsfree-to-playgame-mechanicsgoldgold-spaminterviewsjorg-koonenkerenskymicrotransactionsrunes-of-magicsam-maxtedtokensvirtual-currenciesvirtual-currencyzamSun, 31 May 2009 15:00:00 EST<![CDATA[The big business of selling virtual goods]]>http://massively.joystiq.com/2009/05/08/the-big-business-of-selling-virtual-goods/http://massively.joystiq.com/2009/05/08/the-big-business-of-selling-virtual-goods/http://massively.joystiq.com/2009/05/08/the-big-business-of-selling-virtual-goods/#commentsFiled under: , ,

It doesn't seem like it was that long ago that the entire concept of people spending real money on virtual items and currency was just bizarre. The first mentions of such a thing this writer ever came across were back in 2003, when Julian Dibbell told the story of Black Snow Interactive, rumored to have been operating virtual sweatshops operating in Mexico. Fast forward to 2009 and the notion of shelling out real world cash for the ephemeral has become commonplace. Moreover, these formerly arcane business models centering around virtual trading have ballooned into a huge business, much to the chagrin of many game companies and their players.

However, not all companies attempt to fight this ever-increasing gravity of real money trading (RMT) that now permeates the MMO and virtual worlds industry, and some seek to make it an aspect of their business that they control rather than something they need to curb. Indeed, the profits of many (legitimate) businesses are largely derived from sales of virtual goods, as Rory Maher explains at paidContent.org in his article titled "From Pet Penguins to Flame Throwers: The Biggest Sellers In The Virtual World".

Maher looks at three companies doing well for themselves in the virtual goods game, and what they're selling that's proven so popular. He points out Tencent, a Chinese IM provider that incorporates microtransactions into the service, allowing users to spend their "QQ" currency to enhance and customize their IM interactions, even buying virtual pets that exist on their desktop and run around inside their instant messages.

Continue reading The big business of selling virtual goods

MassivelyThe big business of selling virtual goods originally appeared on Massively on Fri, 08 May 2009 20:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>black-snow-interactivejulian-dibbellmicrotransactionsmobsterspetsplay-moneyplaydomqqrmtrory-mahertencentvirtual-currencyvirtual-goodsvirtual-itemsyovillezyngaFri, 08 May 2009 20:00:00 EST<![CDATA[Live Gamer's Andy Schneider on legitimizing RMT in games and virtual worlds]]>http://massively.joystiq.com/2009/04/27/live-gamers-andy-schneider-on-legitimizing-rmt-in-games-and-vir/http://massively.joystiq.com/2009/04/27/live-gamers-andy-schneider-on-legitimizing-rmt-in-games-and-vir/http://massively.joystiq.com/2009/04/27/live-gamers-andy-schneider-on-legitimizing-rmt-in-games-and-vir/#commentsFiled under: , ,

Most mentions of real money trading (RMT) in massively multiplayer online games and virtual worlds conjure up images of virtual sweatshops and the resulting blitz of gold spam. Despite how loudly many protest against the idea of RMT in games, the fact remains that there is a market for this and people spend a lot of real world money on virtual goods every year.

Live Gamer is a company that aims to legitimize real money trading, creating a way for players to spend their cash without the risks inherent in dealing with shady gold and item sellers. It also ensures that money spent on virtual goods is going back into the pockets of the game companies. While services such as Live Gamer don't end the debate on whether or not RMT should be permitted in the first place, it's clearly here to stay, and some game publishers are getting proactive about real money trading.

Continue reading Live Gamer's Andy Schneider on legitimizing RMT in games and virtual worlds

MassivelyLive Gamer's Andy Schneider on legitimizing RMT in games and virtual worlds originally appeared on Massively on Mon, 27 Apr 2009 19:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>andrew-schneiderandy-schneidergoldinterviewslive-gamermicrotransactionsmmo-gamermmo-industryreal-money-tradingreal-money-transactionsrmtsteven-crewsvirtual-currencyvirtual-goodsvirtual-worldsMon, 27 Apr 2009 19:00:00 EST<![CDATA[GDC09: Raph Koster kicks off Worlds in Motion Summit]]>http://massively.joystiq.com/2009/03/23/raph-koster-kicks-off-worlds-in-motion-summit-at-gdc-2009/http://massively.joystiq.com/2009/03/23/raph-koster-kicks-off-worlds-in-motion-summit-at-gdc-2009/http://massively.joystiq.com/2009/03/23/raph-koster-kicks-off-worlds-in-motion-summit-at-gdc-2009/#commentsFiled under: , , , , , ,

Game Developers Conference (GDC) 2009 has begun and Massively is in the trenches to report on all the big announcements for the massively multiplayer online gaming industry, plus we have some great interviews lined up all week as well. Our GDC 2009 coverage begins with today's Worlds in Motion Summit, kicked off by Raph Koster, MMO and virtual worlds luminary.

Koster's speech is short, essentially a quick review of the virtual worlds trends he's observed over the past year. It's important to see things in perspective, Koster points out, mentioning that virtual worlds have recently turned 30, and are now a far cry from their MUD origins. Hardcore, geeky stuff Koster says, and we've come a long way since then. "We've kind of arrived, haven't we?" Koster asks. "One half of American adults are gamers today, which is an incredible step."

Continue reading GDC09: Raph Koster kicks off Worlds in Motion Summit

MassivelyGDC09: Raph Koster kicks off Worlds in Motion Summit originally appeared on Massively on Mon, 23 Mar 2009 17:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>ambiencebreakingconvergencecultureeconomyeventsflashgdcgdc-2009governancelegalmassively-event-coveragemcdonalds-3.0mmo-industryraph-kostersafaricomsilverlightsocial-networkingtaxationvirtual-currencyvirtual-goodsvirtual-worldsworlds-in-motionworlds-in-motion-summitMon, 23 Mar 2009 17:00:00 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[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.

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The sci-fi game EVE Online is set apart from many other massively multiplayer online games by its economy. While there are currently problems with the game's market due to a serious exploit, the economy isn't getting reset anytime soon. The currency of EVE's virtual economy is the Inter Stellar Kredit (ISK). As in the real world, money can be power in EVE's 'New Eden' galaxy. Most online games built around a virtual economy will ultimately need to deal with the real money trading (RMT) issue -- either make it a bannable offense or support and regulate it in some way. CCP Games figured if RMT is happening whether they want it to or not, they may as well have some way to regulate it.

EVE Online has a few legitimate ways to bring real world money into the game. Game Time Cards (EVE Time Codes) can be converted to ISK without risk of getting your teeth banhammered in by CCP Games. They offer a secure way to sell game time to players where neither party can be scammed, and more recently a way to turn game time into an item (PLEX) that can be sold on the open market in-game. When a player buys that item, he or she extends their account subscription. The upside for some players is that they can actually pay their subscription fees in the ISK they've earned in-game, for others it enables them to buy a faction battleship or a number of other virtual items.

But... some people just go too far with all this, and buy ISK in huge amounts. Even worse is doing so outside of the EULA-safe methods. This was the case with an EVE player in Denmark, who paid 100,000 Danish Krones (the rough equivalent of 13,500 Euros or USD 19,000) for currency from a shady ISK seller outside of the secure system, and was ultimately left with empty pockets, even after the case ended up in court.

Continue reading EVE Online player loses USD 19,000 in shady virtual currency deal

MassivelyEVE Online player loses USD 19,000 in shady virtual currency deal originally appeared on Massively on Tue, 30 Dec 2008 18:00:00 EST. Please see our terms for use of feeds.

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EVE Online is set apart from most MMOs out there in that players find ways to establish and run large financial ventures within the game. What's interesting is that although such initiatives aren't developer-supported, players still put together banks, IPOs, and other types of investments peripherally to EVE and its game mechanics. The sandbox nature of the game paired with EVE's API allow for ventures of this sort. Dynasty Banking is one choice that players have that's been turning heads of late, but EBANK is the focus of a recent EVE-Tribune piece. EBANK has accrued over one trillion ISK and over 2750 customers, making it -- according to their 2007-2008 annual report -- "the largest financial entity ever seen in EVE."

EVE Tribune had a chance to interview EBANK's LaVista Vista (real name: Charlie Eriksen), who is also a newly re-elected delegate of EVE's player representative body, the Council of Stellar Management. The EVE Tribune piece written by FinnAgain kicks off with one hell of a caveat in the form of a direct quote from one of their staff writers, but it's a good way to begin, particularly given the problems that have been seen in the past with banks in EVE Online. The interview focuses on the policies and safeguards in place to keep any individual working at EBANK from absconding with vast amounts of player-invested ISK, but LaVista Vista also discusses how EBANK puts all that isk to use, and their future plans to establish a stock exchange. If you're interested in the economic side of an MMO, the EBANK interview at EVE Tribune is a good look at what players can accomplish on their own within a virtual economy.

MassivelyA look at virtual banking in EVE Online originally appeared on Massively on Wed, 26 Nov 2008 19:00:00 EST. Please see our terms for use of feeds.

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China's State Administration of Taxation recently imposed a 20 percent income tax rate on profits made from virtual currency and virtual items, sparking price increases for virtual goods. While this tax rate (if actually enforced) clearly impacts the virtual space, it also affects transactions happening outside of MMO servers and virtual world grids. The taxation policy could ultimately extend to the virtual currencies linked to the largest IM providers in China such as Tencent, drastically increasing the percentage of the population affected by the new laws. Despite this, the positive benefits of eliminating gray and black markets for virtual items and currency may outweigh the drawbacks for gamers and users of the various digital services in China.

Questions remain about what will and will not be taxed in the virtual space, but it's clear that individuals who gain virtual income are expected to declare their profits and pay taxes on this, and do so within seven days of having earned the profit, according to Shanghai Daily.Taxpayers who can provide proof of the value of this property or the value of the transaction are taxed at 20 percent on their profits, while those who cannot provide sufficient verification are taxed at three percent of the total transaction value. But how many people are affected by this new system?

Continue reading China's virtual goods taxation sparks price increases and controversy

MassivelyChina's virtual goods taxation sparks price increases and controversy originally appeared on Massively on Wed, 19 Nov 2008 19:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>asiablack-marketchinacontroversyeconomicseconomygoldgray-marketlawlegalmmo-industryrmtshanghaishanghai-dailytaxtaxestencentvirtual-currencyvirtual-goodsvirtual-itemsvirtual-taxationvirtual-worldszhu-shenshenWed, 19 Nov 2008 19:00:00 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[Runescape cheater exposes his 'black market' organization]]>http://massively.joystiq.com/2008/06/14/runescape-cheater-exposes-his-black-market-organization/http://massively.joystiq.com/2008/06/14/runescape-cheater-exposes-his-black-market-organization/http://massively.joystiq.com/2008/06/14/runescape-cheater-exposes-his-black-market-organization/#commentsFiled under: , , , , , ,

PlayNoEvil points out an interesting blog entry on cheating in Runescape. The poster, who wishes to remain anonymous, describes himself as a retired Runescape cheater who devoted five years to the 'darker side' of the game. He states, "This article details all the intricacies of Runescape and cheating and what really goes on behind the scenes, I assure you that it will surprise you."

The poster, identified only by the name ThirdEyeOpen, lays out how cheaters and buyers operated as a would-be organized crime ring. 'Welcome to the Dark Side' is his chronicle of how he began his Runescape cheating career, and how it all ended. He recounts being 'interrogated' online by Jagex Ltd. about his activities, and how the subsequent account banning led to a malevolent wish to get even. His anger eventually snowballed into the creation of an organization of similar-minded individuals, mostly other teenagers, who accumulated a fair amount of real-world currency through exploits in Runescape before cashing out altogether. It's an interesting read -- perhaps a bit disturbing in the sense that he views cheating as a kind of playstyle -- but worth checking out all the same.

Via PlayNoEvil

MassivelyRunescape cheater exposes his 'black market' organization originally appeared on Massively on Sat, 14 Jun 2008 20:00:00 EST. Please see our terms for use of feeds.

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Think about this a moment: people are actually paying money to experience less of their games. Every day. Probably all day. These are often games that they've already purchased and, in effect, pay someone else to play for them. The existence of RMT and power-leveling services isn't exactly breaking news, but it makes these aspects of MMOs no less bizarre a notion. The thriving business built upon such tenets of how online games should operate is a matter of some concern to Jesse Henning, a writer at GameCyte.

Despite the can of worms it can be,"from a business standpoint, subsidizing RMT is a fantastic move," Henning writes. If players will buy items and currency outside of the system anyway, what company wouldn't prefer that cash to enter their own pockets? "From a design standpoint, however, RMT is a treacherous path to walk," Henning cautions, and goes on to look at the pitfalls of game design that incorporates RMT. Conversely, the writer then discusses the level-disparity design problem in World of Warcraft and how it actually encourages players to buy gold and use power-leveling services. Henning also looks at how the ancillary services operating within and around a world pull in more revenue than the world operation itself, citing Raph Koster on the issue as well. Have a look at the piece at GameCyte, which discusses how RMT affects console gaming as well as MMOs, and just how inescapable it really is.

MassivelyOpinion: pay more money to experience less game originally appeared on Massively on Sun, 08 Jun 2008 15:00:00 EST. Please see our terms for use of feeds.

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RF Online in the Philippines recently had serious issues with dupe hacks, prompting an unannounced rollback of the servers. PlayNoEvil writes that the operator of RF Online for the Philippines, Level Up Games, discovered a dupe exploit and tried to purge it from the servers as well as those who used it. However due to time constraints with unraveling the intricacies of the exploit, the company decided to roll back the game to a point before the exploit was used.

Level Up Games issued a statement on the problem: Based on DB evidence, numbers as well as feedback from the community, the GMs, the Vanguards and also from our field agents, there was an oversupply of in-game currency and gold - as high as 500 %. GMTristan of RF Online Philippines clarified the situation further on his blog:

Continue reading RF Online server rollback combats cheaters and 500% inflation

MassivelyRF Online server rollback combats cheaters and 500% inflation originally appeared on Massively on Sun, 08 Jun 2008 12:00:00 EST. Please see our terms for use of feeds.

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