Nazir, Mohamed, and Lui, Carrie Siu Man (2016) A brief history of virtual economy. Journal of Virtual Worlds Research, 9 (1). pp. 1-26.

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Abstract

The virtual world economy is a multibillion-dollar industry. There is significant evidence for the growth of virtual economies within a variety of virtual worlds. There is an increasing demand from users to buy, sell, and invest in virtual items and services, including virtual properties. However, there is also evidence suggesting that many companies struggle to succeed in the virtual economy platform. In order to facilitate and drive success in virtual business strategies, it is necessary to have a framework for classifying elements of virtual economies. This paper proposes a classification framework of virtual economy elements based upon the characteristics of products and services, the transaction and marketplace, as well as the currency and exchange systems present in these economic environments. In addition, this research highlights the opportunities and challenges presented to both users and companies within the virtual economy platform.

Item ID:	44215
Item Type:	Article (Research - C1)
ISSN:	1941-8477
Keywords:	virtual world; virtual economy; virtual goods; virtual property; Second Life; Entropia Universe world of Warcraft
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Date Deposited:	01 Jun 2016 23:01
FoR Codes:	46 INFORMATION AND COMPUTING SCIENCES > 4608 Human-centred computing > 460806 Human-computer interaction @ 100%
SEO Codes:	89 INFORMATION AND COMMUNICATION SERVICES > 8999 Other Information and Communication Services > 899999 Information and Communication Services not elsewhere classified @ 100%
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