Video Game Currency: Taming the Wild West of Video Game Economies
Do you know the value of digital currency? No, not bitcoin, but rather value generated in online gaming. While on the surface, online video gaming may seem like just another form of entertainment, the value these games are creating is intersecting with the real-world marketplace. The exchange of virtual wealth to real-life wealth is a tumultuous problem that has remained unaddressed by law since the inception of video games. This legal ignorance has left the market for video game currency in a state reminiscent of the wild west; the wealth is guarded only by those who can protect themselves. Those who cannot protect themselves run the risk of being held up for items worth hundreds of hours of labor. As these markets grow, and assuming we think the online gaming space is worthy of promotion, society must grow with them. When society does decide to move on the issue, it might take a more fluid understanding of John Locke.