Virtual Economies Are Exploding: Here’s What Is Next

Digital goods and services will flourish on the right VR platform.

Ryan Vanzo
Jul 14, 2017 · 3 min read
  • FarmVille’s total in-game revenue exceeds $1 billion.

Why Virtual Economies Are Exploding

The rise of virtual economies has largely been driven by the gaming industry, with users purchasing avatars, power-ups, and other in-game items. The growth in massive gaming universes has driven increased demand for items that demonstrate prestige, rarity, or usefulness.

The Future of Virtual Economies

With the virtual goods market now exceeding $52 billion annually, up from $15 billion in 2012, developers and entrepreneurs are looking for more ways to provide digital goods and services. Immersive virtual reality worlds will empower users to buy and sell far more than just gaming items. Soon, these ecosystems will function as centers of commerce, trade, business, and much more.

Here’s What to Expect

These new experiences will impact every aspect of daily life. Here’s only a handful of the potential applications:

  • Businesses can offer the virtual testing of products (such as a car, smartphone, or laptop) to a limitless user base without risk.
  • Companies can efficiently tap a global workforce, enabling collaboration regardless of location.
  • Providers can offer thrilling experiences like skydiving, mountain climbing, and roller coasters, without the expense or liability.

Next Steps

The Decentraland token sale will take place on 17/08/2017. Learn more by reading the Decentraland White Paper.

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Decentraland

A blockchain-based virtual reality world.

Ryan Vanzo

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Finance, Crypto, Economics, Sociology, People

Decentraland

A blockchain-based virtual reality world.