Friday, August 08, 2003

Real and the Gaming World.

In the multiplayer EverQuest" a black market exchange exists between the EverQuest characters, items and US Dollars. Sony has outlawed the exchange of EverQuest items for real money.

You can purchase upgrades or trade characters for real money.

This paper proposes a revenue model for massively multiplayer gaming based on copying the real world economy enough to give players a more exciting game. By allowing and encouraging the free convertibility of money in the real world with money in the game world, it will be possible for the game host to literally “make a fortune" by selling goods, services, and virtual real estate to the players.

Some early virtual worlds created on the Internet had unlimited virtual resources. Players quickly grew bored with them. As virtual gaming has developed two crucial ingredients have surfaced as keys to success: scarcity and competition against other players.

The ideal gaming economic model requires a virtual world with a limited amount of space, energy, raw materials, money and real estate that players can compete for. Players may be able to take the raw materials in the game and convert them to other usable objects to help them advance in their competition against other players.

Currently, in all games, except online casinos, the only investment the player makes is his time. There is no significant monetary outlay risked in the pursuit of the reward. Likewise, the rewards offered in MM games are primarily social interactions with other players.

Virtual objects in the game world cost nothing for the host to create, but may be of sufficient economic value to players to warrant spending money to obtain them.

For example, there might be a dragon in the game world guarding a treasure horde. One of the treasure items might be a virtual jewel that is actually a digital title to a real precious gem in a vault in the real world. The player who defeats the dragon and obtains the virtual gem may “cash it out" for the real gem.

the fact that players can cash out game items means that the game host must extensively test the game model to make sure that the money players take out is less than they put in at least 51% of the time. In other words, the game model is now like a virtual casino where the odds need to be geared in favor of the house or else the game will go bankrupt.

The more economic exchange that takes place inside the game, the higher the value of virtual objects in the game will be. This in turn will raise the value that players are willing to pay in order to obtain virtual real estate inside the game. However, unlike the Everquest scenario, the free convertibility of game money to real world money will prevent in-game inflation from getting out of hand.

The cost of populating the game world for the game company will be the value of the precious metals and precious stones backing the ore deposits, money, and treasures inside the game
Pecunix has solved this problem by creating a system that can handle all exchanges of value into and out of the game world. Pecunix is not a bank, and the accounts are not in national currency, so anyone of any age can open an Pecunix account for free. Pecunix debit cards are also available to anyone with an account regardless of age. It works at real ATM machines and POS terminals worldwide.


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