Wednesday, August 31, 2005
Posted by Roberto
8:18 PM
0 comments
REAL MONEY FOR VIRTUAL MERCHANDISE
Until recently game producers such as Shanda Interactive and NetEase have earned revenue primarily through a pay-for-play business model. CDC is breaking that rule. Players of Yulgang, its new online fantasy game, are welcome to play for free, but they will have to pay to accessorize their online avatars. CDC Corporation has successfully entered the business of selling virtual in-game merchandise.
In South Korea, Nexon attributed 85 percent of its $110 million in revenues to sales of virtual auto upgrades and accessories from online racing hit Kart Rider.
Sony just launched "Station Exchange", its online auction site designed to facilitate virtual merchandise transactions among players.
Microsoft will incorporate "micro transaction" sales functionality into its Xbox Live platform, allowing game producers to sell virtual merchandise and customizable content.
Indiana University economics professor and "virtual economy" researcher Edward Castronova estimates that the virtual merchandise market ranges from $100 million to $800 million annually. This is big business!
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