Tuesday, April 11, 2017

"Source: Microsoft's Minecraft Set to Launch its Own Currency"

The history of this kind of thing is captured by the old joke "There are three types of people: 1) Those who make things happen; 2) Those who watch things happen; 3) Those who ask 'What happened'".

I'm sure there are already folks moving to make their fortune based on the announcement.
From Bloomberg:
Microsoft Corp. is adding a new marketplace -- and a brand new currency -- within the video-game Minecraft, opening up the opportunity for businesses to sell their original content and creations to tens of millions of the game’s players for the first time.

Set to go live in the spring, nine businesses will be selling feature packs within Minecraft -- such as new storylines, in-game activities or landscapes to explore -- with prices ranging between about $1 and $10 per creation. Other companies can apply to be allowed into the marketplace over subsequent months. Users wishing to purchase content will need to buy a form of new currency -- Minecraft Coins.

“For the first time we are going to enable creators to come in and put content into our store alongside the same content that Minecraft makes,” said John Thornton, the game’s executive producer at Microsoft. “The real impetus is to let creators connect to players and help them make a living on top of Minecraft.”

A store within the game does already exist but is limited to only items created by the Minecraft development team. The change to allow third-party developers to sell their wares within the same ecosystem opens up an entirely new business model for independent creatives.

“For us the big step forward is having a stable platform from which we can build a solid business,” said James Delaney, Managing Director of third-party Minecraft developer BlockWorks, which is one of the first companies to be allowed to sell on the store. “We know the community over there is huge and they’re pretty desperate for this kind of content.”

121 Million
“Huge” is a relative description, but in terms of an addressable market it’s pretty apt for Minecraft. The game, originally released in 2011 after two years of experimental versions, was acquired by Microsoft via its $2.5 billion purchase of software company Mojang AB in 2014. It has grown to sell over 121 million copies worldwide, and has 55 million unique monthly players, according to figures provided by Microsoft.

The Minecraft Marketplace will not be available on all platforms -- a notable exclusion being Microsoft's own Xbox and Sony's PlayStation games consoles -- but will be available on Windows, iOS, Android, as well as the Apple TV, the Oculus Rift and Samsung Gear VR virtual reality platforms, and even Amazon Inc.’s Kindle Fire.

Developers are free to set prices for their creations. “We don’t have a strong price cap,” said Thornton. “If we have content that shows up that everybody agrees is of significant value that a consumer might want to pay more than that, we’ll have that conversation. Ultimately it’s up to the creator to decide.”

New Currency
The new coins can be bought via any supported device that features an app store, such as iOS, Android or Windows. These coins will live in a user’s Microsoft Xbox Live virtual wallet and be accessible for marketplace purchases on any platform. Microsoft would not confirm the exact figure developers would receive from the revenue share after it and app stores took their cut, but Thornton said it would be over half.

“We have a model that allows us to give more than 50 percent of revenue to the creators,” he said. “They’re all happy with that revenue split and we’re happy with that as well.”...MORE

January 2008
BANK RUN: "Second Life Closes Banks" 
From MIT's Technology Review:

Bank run: After Linden Lab’s Tuesday announcement that it was banning virtual banks in Second Life, some residents rushed to withdraw their virtual Linden dollars, while others (above) protested the company’s decision.
Credit: Prokofy Neva (a.k.a. Catherine Fitzpatrick) 

December 2012
Does Farmland at $20,000/acre Seem a Bit Rich? Try Farmville for Real Money! (ZNGA)

December 2913
Alternative, Community and Private Currencies