He thought it quite strange and improbable that such an industry could exist until he read an article in which it was estimated that the size of the worldwide virtual gold economy was somewhere between $1 and $10 billion per year.
Anyway, having reached a place where he had no more virtual worlds to conquer—his characters had achieved near-godlike status and could do anything they wanted—he began to think about this as a serious business proposition.
Here was where the Wikipedia entry got it all wrong by laying too much emphasis on money laundering. The Schloss was turning a profit and appreciating in value and giving him free lodging and food, so it had been years, by this point, since Richard had given much thought to all his unspent hundred-dollar bills. In his younger days, it was true, he had spent enough time worrying about money laundering that he had developed a nose for subterranean money flows, like one of those dowsers who could supposedly find water by walking around with a forked stick. So, yes, the quasi-underground virtual gold economy was inherently fascinating to him. But T’Rain was certainly not about him laundering a few tubs of C-notes.
Video games were a more addictive drug than any chemical, as he had just proven by spending ten years playing them. Now he had come to discover that they were also a sort of currency exchange scheme. These two things—drugs and money—he knew about. The third leg of the tripod, then, was his exilic passion for real estate. In the real world, this would always be limited by the physical constraints of the planet he was stuck on. But in the virtual world, it need be limited only by Moore’s law, which kept hurtling into the exponential distance.
Once he had put those three elements together, it had happened fast. Canvassing chat rooms to communicate with English-speaking gold farmers, he confirmed his suspicion that many of them were having trouble expanding their businesses because of a chronic inability to transfer funds back to China. He formed a partnership with “Nolan” Xu, the pathologically entrepreneurial chief of a Chinese game company, who was obsessed with finding a way to put Chinese engineering talent to work creating a new massively multiplayer online game. During an epic series of IM exchanges and Skype calls, Richard managed to convince Nolan that you had to build the plumbing first: you had to get the whole money flow system worked out. Once that was done, everything else would follow. And so, just as a way of learning the ropes, they worked out a system whereby Richard acted as the North American end of a money pipeline, accepting PayPal payments from American and Canadian WoW addicts, then FedExing hundred-dollar bills to Taiwan, where the money was laundered through the underground Filipino overseas worker remittance network and eventually transferred from Taiwanese bank accounts to Nolan’s account in China, whence he was able to pay the actual gold farmers in local specie.
This Byzantine arrangement, whose complexities, colorful failure modes, multinational illegalities, and cast of shady characters still, all these years later, caused Richard to wake up bathed in sweat every so often, was only a bridge to a more sane and stable venture: Richard and Nolan cofounded a company whose purpose was to construct the new, wholly original game of Nolan’s dreams on top of the system of financial plumbing that Richard now felt he was qualified to build.
When their discussion of the company’s name consumed more than the fifteen minutes Richard felt it deserved, he pulled some Dungeons & Dragons dice out of his pocket and rolled them to generate the random number 9592.
The game that Corporation 9592 built had any number of novel features, but in Richard’s mind their most fundamental innovation was that they built it from the ground up to be gold-farmer-friendly. Gold farming had been an unwelcome by-product, an epiphenomenon, of earlier games, which had done all that they could to suppress the practice, even to the point of getting the Chinese government to ban such transactions in 2009. But in Richard’s opinion, any industry that was clocking between $1 and $10 billion a year deserved more respect. Allowing that tail to wag that dog could only lead to increased revenue and customer loyalty. It was only necessary to structure the game’s virtual economy around the certainty that gold farmers would colonize it in vast numbers.
He sensed at a primal, almost olfactory level that the game could only be as successful as the stability of its virtual currency. This led him to investigate the history of money and particularly of gold. Gold, he learned, was considered to be a reliable store of value because extracting it from the ground required a certain amount of effort that tended to remain stable over time. When new, easy-to-mine gold deposits were found, or new mining technologies developed, the value of gold tended to fall.
It didn’t take a huge amount of acumen, then, to understand that the value of virtual gold in the game world could be made stable in a directly analogous way: namely, by forcing players to expend a certain amount of time and effort to extract a certain amount of virtual gold (or silver, or diamonds, or various other mythical and magical elements and gems that the Creatives would later add to the game world).