In-Game Currency to Real World Currency

[Hill 100]

Hypothetically speaking, what if (on the OFFICIAL servers) you could convert IN-GAME currency into REAL WORLD currency effectively establishing the in-game currency as a sort of "crypto currency". Its value dynamic and determined by a number of factors that play in the economy talking inflation, supply/demand and so forth. This'll provide the official communities an incentive to sustain a contributing economic flow stimulating a sustainable economy and virtual society.

Would love to hear your thoughts, I'm sure a TON of balancing would have to be had before anything like this could successfully enter fruition. I just thought it would be.. interesting. Similar to Roblox and their conversion of Robux to actual cash maybe.

[LightBringer 124]

Pretty sure this would never work or ever be allowed... money isn’t necessarily going to be hard for everyone to get. There will be big time CEO players in-game ranking in the big bucks because it’s the role they fill 

[Ayyy99 1]

so like entropia universe? sweat for money

[LuckyDuck 1,444]

17 hours ago, Hill said:

what if (on the OFFICIAL servers) you could convert IN-GAME currency into REAL WORLD currency effectively establishing the in-game currency as a sort of "crypto currency".

As it was said above, this will never be done or be allowed. This is game would turn into something for people to try and hoard money for real life and well people would play to make real money and not for fun and so is a terrible Idea. In my opinion it should never happen.

It won't be allowed and likely if someone tries to earn money by a con then it likely will lead to a ban. (not certain on it)

[Hill 100]

6 hours ago, LuckyDuck said:

As it was said above, this will never be done or be allowed. This is game would turn into something for people to try and hoard money for real life and well people would play to make real money and not for fun and so is a terrible Idea. In my opinion it should never happen.

It won't be allowed and likely if someone tries to earn money by a con then it likely will lead to a ban. (not certain on it)

All I'm saying is you can still play the game and enjoy the game for what it is, but to also integrate a sense of "value" the in-game currency has on the real world? Well that's something else, it encourages player's to do business with one-another and in turn be rewarded for it. After all, "creators" on Roblox who rack up the Robux and squeeze out the dollars aren't necessarily NOT enjoying the game, they put in the time and effort to acquire it and there's still a flourishing community playing to otherwise enjoy the game.

Naturally though, I feel like it would turn businesses into ravenous predators cutting out any competition where possible so they can continue to thrive.. kind of like some instances in the real world though, to be fair. After all, sure there'll be those playing purely to profit in any way that they can.. but that isn't necessarily a BAD thing. Character and role-play cooperation will still always be the very foundation of any business or enterprise.

It would potentially benefit the value in life and give the economy a much greater depth in value.

It would also potentially spark an influx of crime, therefore soaring firearm prices as demand rockets and supply dwindles; not to mention the quality of Law Enforcement. It could ultimately balance itself out.

Also con-man being prohibited indefinitely? I'm not too big on that. Illegal? For sure. Enforced by ban? Definitely not, it just feels restricting. This is probably why a sort of license for business would be required by Law and therefore result in hefty fines given failure to oblige to said regulations. In other words, don't deal with the sketchy folk in the ally-way hanging merchandise out of their trench coat.

Just thought this was a fun concept to postulate.

Edited December 31, 2017 by Hill

[LuckyDuck 1,444]

16 hours ago, Hill said:

Also con-man being prohibited indefinitely? I'm not too big on that. Illegal? For sure. Enforced by ban? Definitely not, it just feels restricting. This is probably why a sort of license for business would be required by Law and therefore result in hefty fines given failure to oblige to said regulations. In other words, don't deal with the sketchy folk in the ally-way hanging merchandise out of their trench coat.

You can con people on in game money, yeah sure but con man on getting real money, is a ban offence. If you need a game to profit from then "Second Life" is something with that.

So How would you think that you can convert your in game money to real money because if you notice, the packages on the thing would cause problems with a system like that. Asylum should not be paying anyone with any system and well you can't pay to get money in the game because that is "Pay 2 Win" which would ruin the game altogether.

[Hill 100]

On 12/31/2017 at 1:24 PM, LuckyDuck said:

You can con people on in game money, yeah sure but con man on getting real money, is a ban offence. If you need a game to profit from then "Second Life" is something with that.

So How would you think that you can convert your in game money to real money because if you notice, the packages on the thing would cause problems with a system like that. Asylum should not be paying anyone with any system and well you can't pay to get money in the game because that is "Pay 2 Win" which would ruin the game altogether.

You definitely make a good point, thanks for listening.

[Mollancholy 4]

On 12/29/2017 at 8:51 PM, Hill said:

Hypothetically speaking, what if (on the OFFICIAL servers) you could convert IN-GAME currency into REAL WORLD currency effectively establishing the in-game currency as a sort of "crypto currency". Its value dynamic and determined by a number of factors that play in the economy talking inflation, supply/demand and so forth. This'll provide the official communities an incentive to sustain a contributing economic flow stimulating a sustainable economy and virtual society.

I'm so glad you suggested this. Even if it never happens (as is extremely likely), I'm just soooo glad someone put it out there.

Maybe it's just the former Second Life junkie in me talking, but Identity seems to me to have the potential to be everything SL or Entropia have tried but ultimately failed to be. Providing players with a real world career/playtime incentive like currency conversion would not only encourage greater dedication to their jobs or roles within the world, but also guarantee a more consistent presence from more (for lack of a better word) mature roleplayers who might otherwise be unable to spend a lot of time in-game due to RL responsibilities. If a player wants to publish books in-game and puts forth a lot of time and effort to write and sell them, currency conversion connects both the author and their readers in a way that not only feels but acts like a career.

A cash economy could also increase the rental/purchase of private servers exponentially if the renters/moderators of those servers were able to charge rent for homes or shops from players looking for the freedom to live out their virtual lives in relative peace. Alternatively, interested players could create niche roleplaying servers for crime, career, fun, etc. and simply charge a monthly or weekly fee from players wanting to live or play there. It all comes down to transcendent incentive. Games that allow/invite players to LIVE within them can often put people at risk of losing their RL jobs, as so many MMOs have taught us in the past. Turning the game INTO a job does away with that danger all but entirely. 

I definitely realize something like this might be virtually impossible (no pun intended) to incorporate without a complete and possibly damning overhaul of certain features, especially in a game so heavily riding the "crime and punishment" angle. Maybe there could be dedicated "career RP" servers with a finite crime limit? For players who are both hardcore roleplayers AND interested in a life of crime? Or maybe just put into effect a kind of currency filter which prevents players from converting cash they didn't earn? The latter would probably be one of the only ways to make it work, in my opinion.

Again, I know this wouldn't be an easy thing to bring to pass, but my god... If it were possible, it could be amazing.

Edited January 6, 2018 by Mollancholy

[Shimozukachi 481]

after one day: 40 trilion ingame money = 0.0000000000000000002$

[uncannierlink 225]

There is already an mmo that does this and it's not that fun. The game either costs you money, or turns into a job. Or you're super lucky and are like the one player who owns a popular social hub. Basically, the economics don't work out, because the money has to come from somewhere. Asylum won't pay people to play their game, they need to make a profit. So the money comes from players. Eventually the money dries up because everyone wants to take money out of the system, and no one is putting money into it.

 

Honestly, If they could just get an economy similar to Albion or Eve I'd be incredibly impressed.

Edited January 18, 2018 by uncannierlink

[Danthecancerman 20]

Who uhhhh, who would give you the money? The company is not going to hand out money with anything in return.

[MisterBolt 2]

You are addressing the future of gaming my friend. 
In fact having a working economy inside of for example a game is in so much demand, that it is one of the biggest driving forces in the development of blockchain technology (searching ways for making more transactions per second) 

This is because it can have the potential to create a supply / demand economy with basically everything you can image (see cryptokitties as POC) 
For a game like this I would say this could be the difference between a mweh game, to one that writes history. 

With regards to the arguments of people saying: "They will not allow that, or some government may not allow it blabla" It CAN work regardless if people want it or not. Even the US President can be against it for that matter. The beauty of  Blockchain is that it's decentralized over an entire worldwide network so nobody can stop it. 

Your avatar will be your avatar always locked into the network, your house will be your house and so on. Even after servers are down. 
This results in real value so you could play this game for real money. This will affect the choices you make in game significantly.
Money will never 'dry up' because this is how economy works. 

For this to happen the entire game code should be encapsulated inside of a smart contract like Ethereum is offering.
Although this IS the future, right now the technology is to slow to make this work on a big scale.

Oh and for someone who is afraid developers will get broke, they will become filthy rich by setting a transaction fee of 0.01%
Don't worry the fee is fixed inside of the contract so it's not editable by the developers once released. Hence the decentralization.

 

However, this game will never have this because it will be to much work for a company like this.
 

  

[YouKnowBro 88]

Why do you even fucking need this, it makes no sense to implement

[regkar 0]

On ‎12‎/‎29‎/‎2017 at 6:51 PM, Hill said:

Hypothetically speaking, what if (on the OFFICIAL servers) you could convert IN-GAME currency into REAL WORLD currency effectively establishing the in-game currency as a sort of "crypto currency". Its value dynamic and determined by a number of factors that play in the economy talking inflation, supply/demand and so forth. This'll provide the official communities an incentive to sustain a contributing economic flow stimulating a sustainable economy and virtual society.

Would love to hear your thoughts, I'm sure a TON of balancing would have to be had before anything like this could successfully enter fruition. I just thought it would be.. interesting. Similar to Roblox and their conversion of Robux to actual cash maybe.

I can think of one mmo that does not alow this officially and that is WURM. The business is making money (profits). What a mmo could do is Tax any income made within the game (more profits). Unofficial transactions  often lead to fraud. A tax would regulate that problem so any RL transaction in game would be more money for Dev. but MMO itself would not convert ingame money to RL money.

Edited January 21, 2018 by regkar
elaborate

[Olio 117]

Anytime an in-game currency exits a game, such as selling in-game cash for IRL cash really messes with the in-game economy as well as the buyer's and everyone else's experience in-game. It is STRONGLY frowned upon. If you are going to buy virtual money, you are going to really miss out on the experience of earning it yourself and diminishes interest in a game like this. I can tell you with first-hand knowledge Paratus and Motown are not fans of the purchase/sale of in-game money and believe it's not something to publicly advertise. This game and any other game where you have to "grind" for your money is much more rewarding, especially after saving up to buy something such as a house, car etc. I think with what they have in store for ways to make money and the steps and processes it takes to make money will make it fun to actually earn money, vs traditional grinding games.