Virtual Goods Turnover $3B

[ManyGash]

World Bank: gold farming (etc) paid poor countries $3B in 2009

A research arm of the World Bank has produced a comprehensive report on the size of the grey-market virtual world economy in developing countries -- gold farming, power-levelling, object making and so on -- and arrived at a staggering $3 billion turnover in 2009.

Can anyone confirm this?
This is a hell of a lot of virtual goods/services.

 

[Tckr]

I wouldn't be surprised at all if it was true.

 

[dence47]

Gaming is progressing every year by a whole lot. I would no be surprised either.

 

[ManyGash]

One small change in games like WoW and RS can cause these markets to collapse, thats a lot of money wagered into this market though don't you agree?

 

[Sillymonkey]

When you think about it from a global prospective $3B isn't much.

It is for an individual, but not for a world-wide industry.

 

I doubt produced, but traded, possibly.

 

[Kodak]

If its by the World Bank I'd imagine its quite legit. - Thats a lot of money lol.

 

[Nimla]

I guess you can call it an "industry" now.

Related pic.

 

[kill dank]

The cash value of the virtual items traded is worth billions. But the games themselves arent worth close to that. There may be a billion dollars worth of runescape gold, but Jagex couldn't sell Runescape for that much.

 

[JohnK]

I'm not really surprised at all, it's just going to get bigger too.

 

[Sillymonkey]

What people have to consider is that some games are designed around RWT via microtransactions, etc. and I strongly assume transactions like that are included in this figure.

Take Second Life for example, people run "night clubs" and "stores" that literally earn all of their IRL income for them, and it is a fairly good income if they have a good concept.

^Taking that into consideration especially, 3B isn't much. With the growth of the internet and evolution of online gaming/the generations on the net, I can definitely see that figure growing significantly larger in the near future.

 

[Ricky]

That's amazing, but like others have said not surprising

 

[oxodium]

I wouldn't be surprised at all if it was true.

Valid source too, sounds about right. There's a hell of a lot of money to be made in virtual trading. Just look at the amount of runescape gold sites set up...

 

I'm really not surprised to be honest. Who wouldn't want to drop a couple bucks to buy gold instead of grinding it out themselves, or even having to level their own skills.

The way MMO's are designed, you've never "beat the game" so there is always some work to do on your account, or more money to gain. Because of this the business possibilities are huge, lol.

 

Seeing as this is in 2009, I can only assume that the amount has gone up in 2 years.

 

[Snow Patrol]

Sources? I'd like to read an article regarding Virtual Currencies/Services

 

[TheMaker]

i am quite sure that atleast 1% of that 3B comes from trades here at sythe

 

[CheeseyChicken]

virtual market just keeps growing, will be even bigger in say 10 years time, this site could become huge.

 

[obby kil you]

virtual market just keeps growing, will be even bigger in say 10 years time, this site could become huge.

i'd say this is already huge.

 

[Loyal 2 da game]

Just also think of all the WoW shit people buy as well.

i'd say this is already huge.

Sythe is the 246th biggest forum in the world. That's out of thousands and thousands of forums. So you're correct on that one.

also this: http://boingboing.net/2009/03/05/chinese-gold-farming.html#previouspost