This is Runescape, it is one of the oldest and most involved massively multiplayer online role playing games in existence. This game has been played by millions around the world but for those of you familiar to the channel you know we are not here for the game play or the mad early 2000’s style graphics, we are here for the economy. And oh boy does Runescape have an amazing economy. A majority of trade done between players in the game today is done via the grand exchange, which has similar functionality to most trading markets in most MMO’s and even a lot of similarities to trading markets in the real world. Any game that has this kind of player driven trading market will cause a level of economic intrigue but what I find most interesting is the time before the grand exchange took over the game. Before this existed though a majority of trade was done through a player to player trading system where one player would negotiate with another player for the sale of an item and then both players would engage in a hand to hand virtual trade. This is so truly unique because it gave RuneScape the functionality of an economy from the time period it represented.
In this video we will explore the Nuances of this economy and also look at an academic paper written by a channel viewer on this amazing virtual economy.
enquiries - loungejita@gmail.com
Discord server -
Music - Old RuneScape Soundtrack: Harmony
Channel Viewers Paper -
References -
Bilir, T.E., 2009. Real economics in virtual worlds: A massively multiplayer online game case study: Runescape. Available at SSRN 1655084.
Yang, R., 2012. The Personal and Economic Utility of Virtual World Bots: A Defense for Fair Use. Ariz. St. U. Sports & Ent. LJ
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