MMOG coin revolution | 2021
MMOG coins were first introduced from the popular game EverQuest (EQ) with their “Platinum” currency, also known as “Plat”. Since the early pioneers of selling panels on Ebay, many have argued and booed those who bought panels online. I recall that many players harassed others with foul names like “newb” and “ebayer”. It’s been more than 5 years since everyone is arguing over whether to accept the secondary market for trading MMOG money.
Since the introduction of EverQuest Platinum, there have probably been more than 70% of gamers who did not consider buying boards and discriminate against those who did. As of today, the numbers have been extraordinarily reduced. About 40% of players now buy coins, 30% still hate the idea and 30% of other players probably don’t care much and may buy some themselves in the near future.
Although online gaming currency is still a new trend for the online gaming community, it is getting popular at a very accelerating rate. At the end of 2010, I think even the publishers themselves will support the establishment of the secondary market. Sony Online Entertainment (SOE) has now launched its EverQuest 2 gold auction system and plans to start a new MMORPG where they intend to sell coins and items themselves. With their support, I am sure the secondary market will be accepted within a period of time.
The secondary market is only as successful as the primary market. With the release of World of Warcraft (WoW), there are now over 4.5 million subscribers. The vast majority of these players are probably new to the MMORPG world. The huge increase in subscribers means a lot of potential for the secondary market. So far, WoW gold has been the best seller of the year and maybe a few more years down the road.
With the increasing demand, many players have started a career in which they collect money, items and other virtual assets and sell them to players or to stores that may buy at wholesale price and resell to individuals.
The secondary market may one day be larger than the primary market. Many players today probably spend more on buying coins, items, and equipment than their subscription fee. The publishers themselves cannot even deny the fact that there is so much money to be made in the secondary market that I am sure they will sell their virtual assets themselves over a long period of time. As for whether or not players will support it, I think it’s just a matter of time before acceptance, and of course there will always be a few who won’t like the idea.