Connor Muir Comp 1631 Winter 2011. What is a Virtual Currency?  Virtual Currency is a type of money that is used to fuel the economy in online games,

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Presentation transcript:

Connor Muir Comp 1631 Winter 2011

What is a Virtual Currency?  Virtual Currency is a type of money that is used to fuel the economy in online games, generally MMORPG’s  The appeal of virtual currency is that generally it can be spent purely on luxury because you don’t require food or other necessities in games.

Examples of Virtual Currencies  Here are some examples of Virtual Currency.

What gives Virtual Currency Value?  There are many things that can cause people to want virtual currency including but not limited to:  Enhancing in game experience  Acquiring hard to get items  Status Symbol  Recognition

How can it be worth something if its not real?  To the people who play these games this virtual currency is very real!  In the game Second Life you can purchase Linden dollars with real world money and exchange it with other people.  So many people profit through Linden dollars that it is recognized as a real currency now  As of Jan 30 th USD = Linden dollars according to ServerSurge.com

How can people possibly profit off virtual Currency?  There is a plethora of ways one can profit off of virtual currency here are some examples:  Creation and sale of items  Real estate  Express services

Creation and Sale of Items  There are many games where you can create and sell your own items.  Second Life & IMVU are prime examples.  Some MMORPG’s allow you to actually copyright what you have created online!

Real Life Success!  Plenty of people make incredible amounts of money through real estate including Ailin Graef who is a real estate developer in the game Second Life. Ailin just made her first Million dollars(US not Linden) and continues to develop!

Express Services  Express Services are services that further your progress in a game in exchange for real  This includes:  Gold Farming  Account Sales  Item Sales.

Now you are a Virtual Currency Expert!