2 Cents on MMOs

At this year’s Virtual Goods Summit there was a lot of very good discussion about the two major types of virtual currency in use today:

• Earned

• Purchased

Earned currency is generally given to participants in your virtual economy for work done or time spent. Purchased currency is just that, purchased with cash outside your virtual economy. (kinda like if you dig up gold and exchange that for money, in the real world).

I am purporting there is a 3rd type of currency that can be applied to virtual economies, Achievement Currency, a type of reward for doing accomplishing a goal in the virtual economy. This currency is tied to specifc, pre-defined, and known goals. Complete the quest for the golden sword, buy 1000 coins, posting 10 answers in the forum (that receive positive feedback rating), gifting 100 items.

Achievements are now a well understood reward/motivation game mechanic. But using the same mechanic as a currency in virtual economies is a new concept.

Earning achievement currency is relatively easy concept. Think of “badges” or “Medals”. But how do you spend them? It is hard to unlock the mind from the concept that an award for achievement can some how be “undone” or “given away”. It also contrary to think that achievements could be purchased with cash.

Achievement currency, when added as a 3rd type of currency in a virtual world certainly have the ability to deepen the experience in a virtual world, but if it is too easy to buy them with cash there will certainly be members of your community to vocally decry “posers”.