Virtual Gold
The gold piece has been the standard unit of currency in fantasy role-playing games since the arrival of the first version of Dungeons and Dragons. Today online MMORPGs such as World of Warcraft (WoW) have taken gold virtual - and with an active market in Second Life Linden Dollars (L$) it looks like virtual currency is set to rival the real thing.
MMORPG Gold
Most MMORPGs are (unfortunately) biased more towards obtaining power and possessions than role-playing. As in the real world, these are bought with money - which means gold. Gold can be earned in various ways including completing quests, defeating monsters and performing tasks.To add realism to any MMORPG players must be able to trade items and also gold. This immediately introduces the possibility of players making agreements in the "real" world to exchange gold or items in the virtual world. In other words, to buy and sell virtual gold and goods for real world money.
Some games have resisted this trend, however others have embraced it as inevitable. There is now an active gold market for virtual gold and goods in many games. The most popular game - and hence the most traded gold - is World of Warcraft (WoW). There are many people online from whom you can buy WoW gold or other items. This is a time cheap way of obtaining in-world wealth.
Gold Farming
The market for virtual gold has led naturally to the rise of the "gold farmer". These people spend time online acquiring virtual gold and then sell it for real money. In some countries - especially China - the hourly rate earned by farming gold can make it an attractive job for many people.Other people are feeding a secondary market and producing "how to" ebooks and other guides that claim to teach you the secrets of profitably farming gold on Warcraft or other games. Whether such strategies are "guides", "hints" or "cheats" is a matter of personal opinion!
Political Implications
Some politicians are beginning to express concerns over the nature of gold farming. Buying and selling virtual wealth and property raises questions about tax implications and international trade. There are also worries that such activity could provide opportunities for avoiding sanctions or even laundering money.It's possible that one day we may see the virtual gold market regulated in much the same way as the money markets are today.