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New perspective on EVE Online's latest bank embezzlement
EVE Online is a deep sandbox game with the most complex player-driven economy found in any massively multiplayer title. There's enough depth, in fact, that players can establish their own financial ventures in-game, in the forms of bonds and IPOs, and even institutions like banks. However, EVE Online is a game where some players create while others undermine or outright destroy. Trust is a valuable and rare commodity in EVE's setting of New Eden; there are always risks of deception and betrayal. But those willing to take risks are generally the ones who are most successful. Of the player-run banks presently operating in the game, EBANK has billed itself as "the largest financial entity ever seen in EVE."The secrets of its success? A solid Board of Directors and knowledgeable staff, various safeguards preventing any one individual from accessing all bank assets and, yes, some of that rare commodity called trust.That trust was damaged recently though, when EBANK's (now-former) CEO Ricdic, well-known to the game's playerbase, embezzled the virtual funds he was entrusted with. Although this is permissible by EVE's developers CCP Games, selling in-game currency for real-world cash is not. Ricdic has been banned from the game but his actions triggered a run on the virtual bank, and have shaken the faith many players have in EBANK. Massively spoke about the incident with LaVista Vista, a former member of the game's Council of Stellar Management who sits on the Board of Directors of this virtual bank in EVE; he also provides commentary and analysis of virtual worlds and EVE on the Eveconomics blog. LaVista told us about the parallels that can be drawn between a banking crisis in the virtual galaxy of New Eden and that of the real world, and how what happens in a game can impact real lives.
New perspective on EVE Online's latest bank embezzlement part two
We read about these things happening periodically, an EVE player pulls a runner with some huge amount of ISK and all sorts of drama ensues. It makes me wonder, what has the real life impact of this theft been on those of you involved with EBANK?If you are to trust the forum trolls, EVE is JUST a game. But having spent 2 years on this project, real-life money and a lot of sweat and tears, it hurts to see EBANK's name being dragged through the mud, and putting up with the drama. It of course causes a huge amount of real-life stress, and makes you wonder about a few things. I even almost managed to miss 2 exams, due to having to deal with this. But it also gave us the opportunity to realize just how many people EBANK have helped.2% of EVE's playerbase has an EBANK account, and we came to be the biggest investment venture in EVE, peaking at 2.5 TRILLION ISK. That, to me, is a pretty big thing, which I'm proud to take part in. But I can't answer this question on my own, hence here's my new CEO's take on it:
A look at virtual banking in EVE Online
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.
EVE's Council of Stellar Management elections end tomorrow
Tomorrow is the last day for EVE Online players to cast their vote for the Council of Stellar Management (CSM) candidates. Members of the player-elected council act as representatives of the playerbase, bringing issues with the game before the developers and working towards keeping EVE Online a game that reflects the interests of those who play it.EVE's Council of Stellar Management is one of the first significant implementations of a democratic process impacting both the players and developers of an MMO. Other titles and developers have taken smaller steps towards this in the past, but the first CSM was a first for the industry as well.
