Would you believe us if I told you that a digital kitten actually sold in 2018 for $170,000? This is an amazing example of the “Virtual Economy” that actually occurred.

Since many years ago, gamers have exchanged virtual goods for real money in this less well-known method of earning money. As you will quickly discover, it can also be rather profitable for those who are astute enough to take advantage of it.

Here, we’ll take a little dive into this hidden and largely unexplored realm and look at several potential entry points for you.

What does “virtual economy” mean?

The virtual economy is a full-fledged economic system that only operates in a virtual setting, such as a game on a computer. The phrase originally came into use as a means of exchanging valuable items within the constraints of the same game, and it is typically used to refer to internet-based games like MMOs.

Numerous virtual economies that produce virtual money, goods, assets, and services have emerged since its early days.

Participants in this emerging economy typically use it for leisure and pleasure rather than for pressing financial needs. Although the in-game currencies and items are the main focus of the virtual economy, “real” world fiat cash, goods, assets, and services are now also sold or traded in it.

Is it possible to live off of playing video games?

Without a doubt, you can. In addition to selling virtual animals for “silly” money, some people have also sold other virtual goods for significant profits.

For instance, in one city between December 2017 and January 2018, almost 34,000 land lots were sold at a single real estate auction. These deals were strange since none of the real estate truly existed in the traditional sense.

Everything was entirely imaginary.

All of these lots were being offered for a digital city that was being built and could only be accessed through a browser. The auctions generated tens of millions of dollars thanks to a sophisticated market and the wonders of cryptocurrencies.

However, these are not singular incidents. Another player in the game Entropia made a cool $635,000 by selling a virtual nightclub.

However, it also has a more sinister aspect. In other parts of the world, such as China, players can spend countless hours farming for in-game items in exchange for a pittance.

How does the online economy operate?

Every MMORPG, including World of Warcraft, has its own in-game money, like TemTem Pansun, Black Desert Online Silver, and Old School Runescape gold, madden 23 coins, fifa 23 coins, NBA 2K23 MT, to mention a few. This is a key gaming mechanic that supports one of their strong virtual economic systems. To obtain the equipment and other items they desire for their characters, players must beat foes in order to obtain loot, hunt and collect, or buy and sell.

However, hyperinflation can become a significant issue if thousands, millions, or even billions of more players follow suit. All of that labor-intensive property can quickly lose all of its value due to an explosion in game money supply.

Many MMOs use a technique known as “currency sinks” to combat this. These game mechanics include the periodic removal of substantial sums of money from the game.

Some games implement various efforts, such as gear maintenance costs and auction house fees, in an effort to limit the availability of virtual goods on their platforms.

However, this disregards the player’s time, which was the primary expense of obtaining all of that material. Often referred to as “grinding,” this process might take a player tens of hours to complete in order to level up their character or get the cool equipment they need to advance in the game.

While you might hire a freelance gamer to handle the labor-intensive tasks, there’s another option: employ something called a virtual marketplace. These specialized marketplaces offer a way to buy or sell in-game items for real money.

These platforms are available in a variety of flavors, including:

• Vertical: This type of online marketplace enables users to sell just one particular product.
• Horizontal – These markets let people offer a variety of goods, yet they all frequently have things in common.
• Global – Users can transact with any type of virtual product they choose on global virtual markets.

Numerous examples can be found online to suit most needs and budgets, however some can be quite expensive. Platforms like buymmog.com, which frequently have a wide selection of products on sale, are beneficial in this situation for all gamers.

What is buymmog.com？

Buymmog.com is a user-friendly online store where virtual goods can be bought or sold. The company began operations about five years ago and has since purchased and sold millions of things from numerous games, as well as billions in in-game gold.

To “provide you the cheapest, fastest and safest coins with our best service” is their stated aim.

Simply sign up for the service, look for the desired game, and then browse all the available things at your convenience.

Once you’ve decided what you want, buymmog will automatically sort the best offers depending on the criteria you’ve chosen (such as price, seller feedback, etc.). This way, the platform will always display the best pricing, but you may still further tailor the search results to your preferences.

After placing your order, you can make delivery arrangements by speaking with the seller directly via their live chat available for 24/7. Typically, the seller will walk you through the virtual trade in-game.

Buymmog’s support staff is always there to assist you in resolving disagreements if you have any problems at all.

This is a terrific idea for potential vendors as well as the buyer because it protects both parties.

Buymmog knows that any delay beyond what is strictly necessary is unacceptable to their customers because they are avid gamers themselves.

So why not check out buymmog.com right away if you’re looking for some in-game coins but don’t have the patience to grind?