"Shadow" Market In Gaming
Huge “Shadow” market in gaming
“Let’s quit our jobs and become World of Warcraft gold farmers” - this is not a drunken rant of a depressed gamer but an actual title of a TechCrunch article from 2009.
In basic terms, gold-farming is a huge, shadowy (and mostly illegal) phenomenon. Detailed figures are hard to come by, but many studies carried out as far as in the late 2000s have shown a whopping $987 million gold farming industry with more than 400,000 people in Asia alone. And as a researcher from Manchester University wrote in his article, “…we could easily more than double the latter to well over that” (source: Current Analysis and Future Research Agenda on "Gold Farming": Real-World Production in Developing Countries for the Virtual Economies of Online Games, RICHARD HEEKS, 2008, University of Manchester).
This means it was at least a $1 to 2 billion market 10+ years ago, and with the skyrocketing numbers of gamers worldwide and increasing popularity of games, it is safe to say that this is a $3 to 6 billion market (based on the growth of the gaming market) that is looking for ways to get out of the illegal shadow market.
Engines of Fury will tap into this market by creating a game that will allow those players to move from traditional games to crypto games which will facilitate the trading of in-game currencies and items, as well as reward players for playing it. In conclusion, it is as the Guardian wrote: “Welcome to the new gold mines”, only this time, with Engines of Fury - convenient and legal ones.
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