http://www.chinavortex.com/2008/04/creating-value-in-the-digital-world-and-bringing-it-to-the-real-world/ China | Business | Economy | Internet | Technology Fri, 10 Feb 2012 10:02:53 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://www.chinavortex.com/2008/04/creating-value-in-the-digital-world-and-bringing-it-to-the-real-world/comment-page-1/#comment-1877 Tencent going Global? : THE MOBINODE - Tracking Dragon’s Web - Best China Tech Blog Mon, 21 Apr 2008 12:49:26 +0000 http://www.chinavortex.com/2008/04/creating-value-in-the-digital-world-and-bringing-it-to-the-real-world/#comment-1877 [...] developed business models where items are sold within a game or application. Read more about it here and [...] [...] developed business models where items are sold within a game or application. Read more about it here and [...]

]]> http://www.chinavortex.com/2008/04/creating-value-in-the-digital-world-and-bringing-it-to-the-real-world/comment-page-1/#comment-1780 Will Lewis Wed, 02 Apr 2008 02:57:20 +0000 http://www.chinavortex.com/2008/04/creating-value-in-the-digital-world-and-bringing-it-to-the-real-world/#comment-1780 We see something similar in US MMORPGs "Second Life" and "Entropia Universe," and we it playing indirectly in the barter system for items in other MMORPGs such as "WoW". As to why we haven't seen virtual currencies spread across other parts of the American Net, my guess is that widespread credit card membership and the instantaneous exchange rates offered by credit card issuers makes no need for virtual currencies. With a credit card the virtual currency adds transaction costs in exchange rates and exchange fees. Without credit cards the virtual currency allows internet users a way to interact in the net's economy that wasn't previously available. We see something similar in US MMORPGs “Second Life” and “Entropia Universe,” and we it playing indirectly in the barter system for items in other MMORPGs such as “WoW”. As to why we haven’t seen virtual currencies spread across other parts of the American Net, my guess is that widespread credit card membership and the instantaneous exchange rates offered by credit card issuers makes no need for virtual currencies. With a credit card the virtual currency adds transaction costs in exchange rates and exchange fees. Without credit cards the virtual currency allows internet users a way to interact in the net’s economy that wasn’t previously available.

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