The virtual gold miners have never been well received by the community in massive role-playing games, they are something like Big Brother – and other reality shows – in contemporary societies: they usually have very high ratings, but hardly anyone openly accepts that they see them.
Likewise, they are usually important livelihoods in the economies of these video games, especially in gray markets where they operate, with thousands of people buying virtual goods, as ways to take shortcuts to level their character faster, a common practice that few accept to do.
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Venezuela represents 70% of the market in certain Runescape objects
Almost 48 hours after the blackout affected much of Venezuela, the virtual economy of Runescape began to suffer. The sale of “Dragon bones”, a popular object in the video game, has dropped significantly causing its price to rise.
A thread in Reddit of video game fans full of surprised people watching how some products that historically were easy to get, begin to be scarce as supply decreases but demand remains, in a market accustomed to obtaining accessories at very low prices because They were usually mined.
Venezuelan virtual miners represented up to 70% of the market in certain objects. Some of them have seen the price increase significantly from the reduction in supply, while demand remains.
The blackout of Venezuela real negative effect for those who depend on that virtual economy
The virtual world map of Runescape
Two years ago, a user named Fiserman published an article on Steemit explaining that people with the most activity possible in Runescape could earn 2 to 3 dollars per hour on the gray market. “This would allow a teenager to earn more money playing a video game than most professionals educated at universities in Venezuela.” Sometimes this explaines the popularity of the FIFA 20 game.
The Runescape virtual gold exchange rate has maintained much more stability than the Venezuelan bolivar
He also explains that unlike virtual currencies such as Bitcoin , Runescape’s virtual gold maintains some stability to change with real currencies, such as the dollar:
“Unlike Bitcoin, Runescape’s gold is fully controlled by a centralized entity. Jagex (video game developers) can put as much gold as it takes into the economy and its price will continue to be based on player demand in the black market. What is surprising is that a virtual currency has more stability than those of a third world socialist government.In recent years, Runescape’s gold has remained at approximately 1 dollar for 1 million virtual currencies, while the Bolivar depreciates significantly every day”.