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Notes backed by online currency (WoW gold, Maplestory Mesos, Etc)

E-currencies backed by videogame economies could facilitate online finance.
  (+6, -3)
(+6, -3)
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against]

With bitcoin having gone through the roof, online currencies are now the real deal. Furthermore, the precedent for equivalence between real and virtual economies has been set by Linden Labs.

I am suggesting the creation of a variety of notes to represent game currencies, as well as timelessly in- demand items (such as onyx apples in Maplestory).

These items have established market rates, and therefore have real-world value. For example, an Onyx Apple might fetch 10mil in the Bellocan Free Market. One broker, NexonAu.com, offers $0.40 USD for 10mil Bellocan Mesos. On the other hand, to purchase Bellocan Mesos from an online broker such as thepurplesphere, it'll cost you $0.80 USD for 10mil.

I want to create additional liquidity in these currency markets, and in doing so facilitate the creation of more advanced monetary instruments (futures contracts).

nog_lorp, Jan 06 2011

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       I like to potential for trading, but completely outside the virtual world. I would like to be able to trade in virtual resources or currencies by buying and selling them with real money to make profits or losses. Consider if there was an external market for all the resources and currencies in the virtual world.
rcarty, Jan 06 2011
  

       Precisely, carty. I'd like to be able to trade in options/futures for game currencies. If anyone is interested in investing >> << >>
nog_lorp, Jan 06 2011
  

       It would seem arbitrage.com is a clothing maker! How unfortunate.   

       I like the idea. I wonder if, aside from these game currencies, there are other online currencies that might be traded in such an exchange.   

       One problem with a currency backed by a virtual thing like onyx apples is that there is a potentially infinite supply of said apples and so the owner of Maplethorpy or what have you could screw with the basis for their game currency even easier than they can print money in Zimbabwe. But maybe that would keep this more in the realm of fun and away from regulators / mafiosi.
bungston, Jan 06 2011
  

       It has always been a fantasy of mine to spend monopoly money. [+]
pocmloc, Jan 06 2011
  

       You could make notes backed by KOL Meat out of real meat...
prufrax, Jan 07 2011
  

       Ah yes KoL meat! And Jekollyn Hyde belts!
nog_lorp, Jan 10 2011
  

       A real-life currency backed by Halfbakery croissants would, of course, be silly. However, it allows me to point out that negative amounts of currency, or debts, would be able to be represented by fishbones.
hippo, Jan 10 2011
  

       Update: We have 42,000 new users this month. Though longtime user Steve-167 has been banned, we hope all the new users will appreciate the new gold bearing territory we have added on their behalf
Zimmy, Jan 22 2011
  


 

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