Play games to learn about Crypto economy

The fundamentals of many video games can help players understand some of the basics of economics, especially in the field of cryptocurrencies.

In a video posted on March 28, cryptocurrency YouTuber and programmer Ivan on Tech shared:

When I was a kid, I used to play RuneScape a lot. It is worth mentioning that RuneScape has its own economy, children can learn a lot while playing the game. I myself also learned the most basic principles of market mechanics from this game.

RuneScape is a fantasy game set in the Middle Ages, allowing players to interact online with each other, do quests, buy and sell, and exchange a variety of items, in addition to fighting.

RuneScape teaches Ivan on Tech how to accumulate digital assets

Flipping through the vast list of virtual items in RuneScape, Ivan shows viewers that players can sell or trade thousands of items such as gold, water, steel, grapes, and more. When you click on each item, a metric similar to a stock will appear, showing the item’s in-game price movement over time.

Ivan explained: “Oak rose in value until December 2019, then continuously dropped in RuneScape.”

Ivan learned the technique of blowing prices and selling from RuneScape

Ivan shared that RuneScape taught him an unwarranted trick of blowing up prices and then selling. Specifically, the mastermind will deliberately inflate the price, then sell it off to buyers who are looking to make a profit, and at the same time dumping.

Gaming is learning more about the crypto economy

Likewise, RuneScape helps Ivan recognize which electronic assets are being manipulated. He shared: “The first time I became a victim of this trick was in RuneScape.”

Realizing that, investors and traders of virtual currencies can avoid high-risk transactions.

See more: Gyeonggi Korea issues Stablecoin to revive the economy

Some other games also help players get acquainted with the market

RuneScape isn’t the only game to adopt a real-life economic model. Virtual reality game Second Life uses online virtual currency Linden Dollar and allows players to buy this currency in USD. World of Warcraft also has an economy of its own like RuneScape. Some players even sell items for cash.

It must be added that more and more games are associated with the real-life economy. Cryptocurrencies and Blockchain make it possible for players to exchange in-game currency into real money to sell and trade, or exchange items with each other on platforms like primexbt trading. Similarly, virtual reality platforms on Blockchain are also growing, such as Ethereum (ETH), where users can sell electronic real estate for crypto assets.