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eBay Bans Virtual Property / RMT Auctions

Hot on the heals of South Korean Gold Famers forming a lobby group, EBay has banned the sale of such virtual property on its popular online auction system – often referred to as Real Money Trading (“RMT”) of virtual goods. Many online gaming publishers prohibit such trading, while others, like Linden Lab’s popular MMRPG, Second Life, not only permit it, but encourage it and even promote it as a beneficial feature to gamers.

Specifically, the following items cannot be auctioned of on eBay going forward:

  • characters
  • in-game currency (a.k.a. “gold”)
  • weapons
  • character attire
  • online game accounts

Significantly, the eBay ban does not apply to RMT of Second Life virtual property.

This ban will be a boon to IGE, a popular site for real money trading of virtual property. While eBay is likely doing this to avoid lawsuits from online gaming publishers that prohibit RMT, it is also walking away from a huge growth “industry” with the value of such annual trading estimated to be between $200 M and $1 billion.

Sources: CNet | GamePolitics.com | Slashdot | TechNewsWorld | Gamasutra | Wired | Virtual Economics | SeekinAlpha

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Square Enix Cracks Down on Gil-Farming RMT in Final Fantasy XI

Square Enix permanently suspended 250 Final Fantasy XI accounts involved in large-scale RMT operations. The users were caught using unauthorized third-party software tools, in violation of the end user agreement, to ‘farm’ for “Gil”, (FFXI’s in-game currency) and selling it for real-world money – a practice known as real money trading (RMT).

Sources: GameSpot | Square Enix’ Press Release | EuroGamer | Galbadia X

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Chinese Gold Farmers Documented on Video

This six-minute video is a teaser for an upcoming documentary that examines the controversial practice of hiring low-cost Chinese labor to farm virtual goods for sale in richer nations.
Source: Joystiq

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