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Free for All: Getting the most bang for your virtual buck this season
So the 'rents finally came through for you this year, skipping the toaster or pair of socks and giving you gift cards for your favorite MMOs? Brilliant! Now, what do you do with all of that virtual cash? Not so fast! If you blow through that pile of pixelated dough, you're sure to regret it later. Not to worry, though; I've taken the trouble to list several methods for not only getting the most out of your internet bucks but keeping the waves of impulsive goodness washing over you for some time after. How did I do it? Well, research really. I spent the last several years playing MMOs and spending money in cash shops. I've made plenty of buying decisions that I regretted later, so let my sufferings serve as example for you.
World Bank report finds selling virtual goods in games more profitable than 'real' economy
A report commissioned by the World Bank's infoDev unit has cast fresh light on one of the more fascinating aspects of our brave new interconnected world: the virtual economy. The "third-party gaming services industry" -- where wealthy but impatient players have someone else grind away at online games for them in exchange for monetary reward -- is one of the focal points of the study, chiefly owing to it having generated revenues in the region of $3 billion in 2009 and now serving as the primary source of income for an estimated 100,000 young folks, primarily in countries like China and Vietnam. What's encouraging about these findings is that most of the revenue from such transactions ends up in the country where the virtual value is produced, which contrasts starkly with some of the more traditional international markets, such as that for coffee beans, where the study estimates only $5.5 billion of the $70 billion annual market value ever makes it back to the producing country. The research also takes an intriguing look at the emerging phenomenon of microwork, which consists of having unskilled workers doing the web's version of menial work -- checking images, transcribing bits of text, bumping up Facebook Likes (naughty!), etc. -- and could also lead to more employment opportunities for people in poorer nations. To get better acquainted with the details, check the links below or click past the break.
Mabinogi hacked by a 16-year-old for $325K of virtual currency
A sixteen-year old boy allegedly hacked the website of Nexon Japan, and made off with about $325k worth of game points for Mabinogi, a free-to-play MMO that's inspired by Celtic mythology (and on its way to North America soon). He reportedly was able to obtain the password of a former Nexon employee, and then used that info to log on to the game servers and load himself up with virtual cash.Some of which apparently then turned into real cash, as he was able to sell it (as least that's what it seems like) for "web money," which he used to buy books and other software. The bottom line here seems to be not that the kid is a genius, but that the company and/or its employee made a dumb mistake, allowing the password to get nabbed by simple hacking software.No word on what punishment, if any, the kid faces, but Nexon claims they've "re-evaluated" their security software, and created a "24-hour monitoring system." Well that's good -- when they get hacked again, at least they'll be able to monitor it.
