A key revenue driver within social media, virtual currencies are specific within each game and are used to purchase in-game goods.
[7] When Iron Realms Entertainment began auctioning items to players of its MUD, Achaea, Dreams of Divine Lands, in 1997, it became the first company to profit from the sale of virtual goods.
[8] But it wasn't until the mid-2000s, with companies like Korean Cyworld leading the way,[9] that virtual good sales became instituted as a legitimate revenue-making scheme.
[12] The popular, free-to-play video game Fortnite: Battle Royale generated more than $1 billion in revenue across all platforms.
While many companies have embraced exchanging cash for virtual goods, the practice is forbidden in most blockbuster games,[14] which derive income from subscription fees.
This doesn't deter all players from saving playing time by illicitly buying in-game currency with real-world cash from an alternate source– violating their agreement with the game's operator in the process.