Here’s the deal: the more gold you have in a game like World of Warcraft, the poorer you probably are in the real world (since all that monster killing and the such takes time, and given the subscription based nature of MMOs, time mostly definitely equals money). So what is one to do? You take what little cash you have left and go to South Korea, that’s what.
Their supreme court has ruled that virtual currency is just as good as legal tender and can be treated as such. The implications of this ruling is, needless to say, rather mind-blowing. Not only will it validate many people’s addictions to MMOs (and perhaps worsen them), but also shake up every single virtual economy out there, most especially the play for free MMOs, most of which are super popular in South Korea (what am I saying, EVERY MMO is super popular in Korea).
So riddle me this; what’s to prevent me from going to Korea, creating my own game in which it has it’s own currency, making myself a virtual billionaire, and then cashing out? How one does it in the first place is obviously very unclear as well. Stay tuned… Via