What’s the difference between working for money and playing for money?

I missed Julian Dibbell’s The Unreal Estate Boom in Wired last November (I was in Frizzance), but I recently rectified that oversight. Too many interesting bits in the article about virtual spaces and economies to exhaustively list here, so here’s a short one:

“The minute you hardwire constraints into a virtual world, an economy emerges,” explains Castronova, the Adam Smith of EverQuest. “One-trillionth of a second later, that economy starts interacting with ours.”

Some thoughts:

1. I’m not sure if that’s always true. Slashdot has an economy (with karma as currency) but as far as I know, no one is selling their karma to less karma-rich folks. But, it’s close enough.

2. Back when ICQ was still popular, people sold low ICQ numbers on eBay. #163896 went for $41.

3. When MetaFilter was inundated with new users, Matt throttled new user signups to 15 people a day. But he also let in anyone who donated $5 toward server upkeep and bandwidth. Many people joined this way.

4. And just in case you didn’t think they were smart, the folks at Ludicorp recognize that virtual economies & real world economies are tightly coupled in the way that Mr. Castronova describes above. Expect The Game Neverending to let people play extensively with the intersection of the virtual and real world economies.

ps. Julian Dibbell is keeping a weblog called Play Money in which he’s documenting his attempt to make real money in the virtual world of Ultima Online.