Sunday, May 22, 2011

Is MindArk manipulating the Market Values?

Since Entropia Universe is Real Cash Economy Game a lot of the discutions and thinking is about the prices of the items. Here is what the avatar Dan Richard Baker thinks about that. This is his personal opinion and some poeple agree some people disagree with him. You may reserv your right to your own opinion:
I've been playing this game for almost four years now and have always been a close watcher of market values.
I've come to learn that the difference between items in the real world and ingame is that in the real world the price of an item will always be based around the cost to produce it (includes costs of wages and running a company etc). The value of an item in Entropia Universe is based totally on demand and supply, and nothing to do with cost to manufacture at all. And this is what is wrong with the economy ingame.
What I find disturbing is how if MindArk want the price of an item to fall, all they have to do is increase the amount of that item ingame. Now people who bought this item for use, hoping that it would at least retain its value, lose money > and not just a small amount.
This kind of thing would not be so problematic if it were all pretends money, but the matter of fact is that this is playing with people's money at a level which it shouldn't be.
MA has the ability to make an item worthless almost overnight and it's just wrong in my opinion.
Another big big big problem with the way market value works in the game are the market value graphs and ofcourse the auction system. The market value display shows the daily market value, which is the value with which the majority of people use to price their items. This daily value can go up and down all the time and multiplies the depreciation rate of items 30 times the amount of the monthly value. If the daily market value of an item were delayed by a couple of days or only the monthly value were shown it would make for a much more stable market.
Auction - a shop owner's nightmare. This makes everything available in one location, and you don't even need to go to the location in which the auction was created to pick up your item. This discourages people from needing to travel at all and makes the prices ever lower because of it being global. One person selling out and leaving the game can completely crash the market prices of an item, and once the price has been at a low point many people will not accept paying anything higher than that price for a good while.
After i've started to realise all this and how MA controls my money like child's play i'm seriously considering packing up and leaving.
Many of you will say that real life markets work in a similar way. Well they don't. If a new product is introduced in the real world it has cost someone to research it. If more of a product is sold in the real world it has cost someone to manufacture it. A blueprint ingame costs MA nothing to disperse and can end up having devastating effects on the economy.
So you're looking for an equivalent to real life - money printing. When a country prints more money then its currency's value falls. Because the PED has a fixed exchange rate something else has to give, which is the value of items.

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