« Behind the 8-Ball: | Main | Guest Blogger »

September 01, 2005

Spot On:


Virtual Gaming's Elusive Exchange Rates

"MMORPG assets are being traded for real-world money. Are these virtual economies giving gamers their fair share?...

...While it may be hard today to arrive at accurate exchange rate data, many think this dynamic will change over time, mostly because the overall value of the market will one day be too big for real-world governments to ignore.

"Eventually, there's going to be a portfolio of these synthetic currencies," said Castronova. "Cyberspace nations that are issuing these currencies are going to be under legal obligation to report sales and volumes and transactions, because in worlds where those currencies can be freely liquidated into dollars, there are clear tax implications..." From Spot On: Virtual Gaming's Elusive Exchange Rates by By Daniel Terdiman, News.com.

Posted by jo at September 1, 2005 12:14 PM