Econ 101?

A few weeks ago a friend and I had a rapid conversation about moving virtual currency between emulated Everquest© servers.  Another friend who works for a business school happened to overhear the conversation, and later told me that he felt my friend and I both deserved MBA’s for what we had discussed.  This concept has had my attention ever since.  My friend and I were moving coinage from one market to another in an attempt to increase the value of our coinage and it worked.  I have never really done much “Real Money Trading,” but I know a few people who have been quite successful.  Most of my experiences have centered around simply game play, but I have seen enough people actually make money for me to give anything centered around this concept a worthwhile examination.

I typically play older games that do not have the demand that some of the newer and more popular ones do.  However, one of the latest games Diablo 3© has a built in Auction feature that allows players to interchange in-game gold and USD.  One person claims to have made over $10,000 playing the game.  He has put his story on the internet via reddit.

I personally believe his claims.  I have friends who have made well over $500 from less popular games.

I want to tie this back into what my friend said about the MBA’s.  After all the discussion we have had about the future of education I feel that one day this could be the road to a degree.  In a virtual world economies exist, and they have huge parallels to the economy of the real world.  Below is a link to a description written by someone with a better ability of communicating the complexities of a virtual world than myself:

Although it is not here yet, I feel this is the future.  I have seen people toy with virtual economies, and accomplish their desired ends.  I have speculated on commodities and made virtual money myself.  Just a month ago I was treated to a meal, and told that it was complements of one of my friends avatars that he had sold for USD.  There is much to be learned from both virtual and real economies, and I do feel that they are different beasts, but in the same breath I feel that what is learned in the real world can be applied to the virtual one, and vise versa.  I will not be surprised when the first crop of virtual MBAer’s is awarded their accredited degrees, and I would not hesitate to hire or be a member of its ranks.  My personal experiences with massive multiplayer games had given me all the evidence I need.  I have seen people make money by playing a game, and I have witnessed them learn from it.  I have even learned a great deal from the virtual world myself.  Video gaming is a part of the future of studying economics and business, and should be welcomed with respect it deserves.

Leave a Reply