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This is the Entropia Universe, a massively multiplayer online game set in a science fiction universe full of spaceships and fantastic curiosities. It is a game where players can choose from a wide variety of professions to occupy themselves with which in turn builds a diverse and functioning economy.

Entropia universe is worth discussing because of one very small aspect that makes a very big difference. The currency in the Entropia universe can be traded back and forth for real-world money, meaning it is effectively a video game that you play using real-world currency. And it was also an entirely exchangeable digital currency that existed 7 whole years before bitcoin came onto the scene.

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#Economics #EntropiaUniverse #Explained

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Sources & Citations –

Fleming, J.M., 1962. Domestic financial policies under fixed and under floating exchange rates. Staff Papers, 9(3), pp.369-380.

Stroud, J.R. and Zhou, H., 2019. Monetary Policy in a Fixed Exchange Rate Regime: Structural Vector Autoregressions with Jumps.

Kieger, S., 2010. An exploration of entrepreneurship in massively multiplayer online role-playing games: Second life and Entropia Universe. Journal For Virtual Worlds Research.

Bainbridge, W.S., 2011. Entropia Universe. In The Virtual Future

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