Is Diablo III Turning Virtual Economies Into Real Ones? | Idea Channel | PBS

The U.S. economy may be in the dumps, but you can find solace in the fact that your Second Life avatar is living the life of the 1%. But what if the virtual economies of video games could be transferred to the real world? We're actually already seeing this in Diablo 3, where axes, swords, and other awesome gear have taken on real world value at the Diablo 3 Auction House. People are buying and selling them with real US dollar bills!!!!!! The idea that a collection of pixels can be sold for actual money might be confusing to some, as they are neither true "objects" you can hold nor "ideas" that can be considered intellectual property. But despite the lack of tangibility, real world economies have formed around these games and real world profits are being made.

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Music:
Roglok http://vimeo.com/musicstore/track/21169
EatMe http://www.jamendo.com/en/artist/3483...
Diablo 3 Soundtrack - Overture http://www.youtube.com/watch?v=qy31Kw...
Derezzed 8bit http://soundcloud.com/toms94/derezzed...

Angry Video Game Nerd: http://www.youtube.com/watch?v=MYDuy7...
Toast Patent: http://www.google.com/patents/US6080436
$32,000 Golf Clubs: http://www.gorillagolfblog.com/equipm...

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You want more? Check this one out: "Is William Gibson A Modern Day Oracle?" http://youtu.be/kWeWBnRwjnw

• Category

  Education

[Adam Rufle]

Time IS money. The value of these arbitrary things is determined by the time it takes to ascertain them.

[Krogan1412]

Mario uses his fist to break the boxes...

[snakemont]

no cause its crap.

[shotGTA]

well thanks for the giant punch in my belly >_>

[MiniMuff666]

Childhood = Ruined

[BuyNYCstocks]

its probably the worst investment because they will all depreciate over time. The game can not go on being popular forever and to have a item that appreciates in value over time needs a growing market. all games peak and then slowly die

[MrBigswordguy]

I think there should be a new concept called "usership", which is referring to the player who is using the magical sword. they don't technically own it, but Blizzard can't (or shouldn't) be able to do anything with that specific arrangement of pixels and bits that the magic sword is made of. the player that has usership of the item In a way has a little bit of ownership, too, especially since they paid real money in order to get it.

[Nathan Parker]

indefinitely, and I didnt hit the subscribe button.

[FAILG0AT]

I think that the player should own when they get and should be able to trade / sell it. A problem that comes with this market though is when games get outdated for an example is Diablo 2. Another problem that can occur say in a game that wont necessarily get outdated like Team Fortress 2 where new items, maps and game modes can be injected in there is a risk that one day the servers will go down permanently.

[TheHydraccana]

diablo III, noted for the trading concept of real money for in game items, one used in Wizard101 since 2008

[akelam romain]

I think if u use real money to buy items in a game u should be able to sell it for real money.gold mineing might become a real job in a fack world

[Shrubberee]

I quit. It was easy. Why? Because it got really, REALLY boring, really REALLY fast.