Virtual Worlds and Virtual Economies

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

The Virtual Economy will provide an opportunity for people to smooth or augment their real-world income through a non-native economic system. This has profound implications for global wealth and income inequality.

More people, increasingly dissatisfied by these corporate offerings, are compelled into creating their own virtual worlds. The future of the internet, as some have theorized, might consist of micro-communities, enclosed worlds with fewer but more engaged members. Through video games like Minecraft and collaborative worldbuilding projects, which are... See more