The Virtual Economy

In theory, the virtual world should have “better” payment rails than the “real world.” After all, its economy primarily involves goods that only exist virtually, which are bought via purely digital (and thus low marginal cost) transactions, and are, for the most part, $5–100 each. This economy is also large. Roughly $54B was spent on virtual goods,... See more

Most importantly, virtual worlds will level the playing field. We’re living through unprecedented income inequality, with global wealth concentrated at the top. In the analog world, talent is equally distributed but opportunity is not. In virtual worlds, everyone will have equal access to opportunity: all a participant needs is Internet access. Vir... See more