Virtual Currencies

In the first few lectures the topic of electronic media products crossing over into sphere of the 'real world' was returned to a number of times. Michael Miller discussed these ideas on this blog in his post "Timely update." Michael discussed the issue in regard to Sims creator Will Wrights new game called Spore. Although this pushes some inter-media boundaries of computer games, the creatures are still contained within the world of electronic media, that is essentially made out of 1 and 0's. A long way from reaching the virtual/real crossover described by the children in Turkle's article.

I think a far more pertinent example of this virtual/real cross over is that of virtual economies. World of Warcraft was motioned in class as an example of how in game values can be transferred into 'real' currencies. While I've never really played this game it got me interested in how these virtual economies operate. I remember kids at school selling their Diablo 2 characters for actual money but due to the increase in the complexity and perceived value of these games this trading has increased to a point where virtual items can now be bought on mainstream auction sites such as Trademe.
Anyone after a PERFECT hammer ?!!?!?
More specialised sites for trading in game items and currency for real world money have also been established.

Mark Wallace discusses some of these ideas in a recent issue of Escapist Magazine:

"While no government authority stands behind them to insure their value, a seal of approval isn't needed for a currency to become "real." A World of Warcraft gold piece is worth as much as you can get for it on the market - about $0.10 at the moment. The U.S. dollar derives its value in exactly the same way."

Since the removal of the gold standard are these in game currencies really so different from the currencies of nations?

The development of real world value for in game values has created an interesting cross over between the real world and the worlds of MMORPG's (Massively Multiplayer Online Role Playing Games) like Eve Online which stress the decreasing separation of the two spheres. Examples include in game ‘guilds’ (Groups of players) going undercover in other guilds in order to steal items and currency worth thousands of real world dollars!

Are these new developments really so amazing? Or are they merely technological developments that will become mundane in time?
One… slightly vague example I thought of was that of books… A book is merely a collection of organised symbols trading on the perceived value of their meaning within a certain discursive sphere.

Is such a strange new world after all?

Check out Terra Nova for more discussion on MMORPGs and social aspects of online gaming communities.

:/