Yeah it's old news... but I happened to be doing some research into the market, and it's sad to say, but I can certainly believe this article is accurate - and the investigators at 1up probably haven't even scratched the surface.
1 Up Article - MMO farming a $500 million / year industry
"Smooth Criminal's game cartel made $1.5 million from Star Wars Galaxies alone last year, and individually, he's made as much as $700,000 in a single year. "[SWG] built my new house, which I paid for in cash," he says. "So when you ring my doorbell, it plays the Star Wars music."
HAHAHA and it gets better:
CNET News: Virtual Inflation and Currency Exchange Rates
"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."
And more!
Market Manipulation and its Consequence
"One thing's for certain, though. Unless Blizzard makes some proactive step, like making this a bannable offense (regrettable and unnecessary) or adding more and better high-level money sinks (a much better idea), we'll be seeing more of this."
1 Up Article - MMO farming a $500 million / year industry
"Smooth Criminal's game cartel made $1.5 million from Star Wars Galaxies alone last year, and individually, he's made as much as $700,000 in a single year. "[SWG] built my new house, which I paid for in cash," he says. "So when you ring my doorbell, it plays the Star Wars music."
HAHAHA and it gets better:
CNET News: Virtual Inflation and Currency Exchange Rates
"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."
And more!
Market Manipulation and its Consequence
"One thing's for certain, though. Unless Blizzard makes some proactive step, like making this a bannable offense (regrettable and unnecessary) or adding more and better high-level money sinks (a much better idea), we'll be seeing more of this."
