Many have heard of WOW gold farming in China, but you may not realize what this is, how it works, or what it has to do with this precious metal. The fact is that the gold that is referred to is not actually the mineral but a form of currency in the World of Warcraft game. There is a growing industry in China that revolves around this virtual currency, which is collected and then exchanged for actual real world currency.
The growth in these activities has led to stories about organizations where workers play the game for 10-12 hours a day straight, with as many as 25-30 workers cramped in a small area. This is not a new way to invest or a special vehicle that few have discovered yet. It is simply a way that many in China have found to earn an income based on the fact that many in the Western world have an abundance of money and very little time.
Although such activities are deemed illegal in China itself, there are a lot of opinions going around that seem to favor this industry. The key argument in this regard is essentially that this particular industry is merely an innovative use of resources of a country with a struggling economy. In addition to that, this can also be seen as a type of outsourcing technique whereby the gold farmers in China are just catering to the demand of the Western countries. If anything, this should be seen as an entrepreneurial undertaking based on its success alone.
New WOW players will start at the initial level and slowly progress through the game. At the beginning, they'll only have access to copper as their currency. As they progress further into the game, silver and gold will be made available as well. These more valuable currencies might however take months to acquire and a lot of people would not have the ability to spend so much time on acquiring them. Thus, gold farming becomes highly useful here.
Employees of these farming entities play for many hours, accumulating this currency in large amounts. This is then sold on an open market, and when a buyer is found the resources are transferred in exchange for a payment of real money instead. That allows the player to buy weapons, items, armor, and other desired things. That means that they will enjoy the game more, and will need to spend less time simply gaining money in the virtual world.
The growth in these activities has led to stories about organizations where workers play the game for 10-12 hours a day straight, with as many as 25-30 workers cramped in a small area. This is not a new way to invest or a special vehicle that few have discovered yet. It is simply a way that many in China have found to earn an income based on the fact that many in the Western world have an abundance of money and very little time.
Although such activities are deemed illegal in China itself, there are a lot of opinions going around that seem to favor this industry. The key argument in this regard is essentially that this particular industry is merely an innovative use of resources of a country with a struggling economy. In addition to that, this can also be seen as a type of outsourcing technique whereby the gold farmers in China are just catering to the demand of the Western countries. If anything, this should be seen as an entrepreneurial undertaking based on its success alone.
New WOW players will start at the initial level and slowly progress through the game. At the beginning, they'll only have access to copper as their currency. As they progress further into the game, silver and gold will be made available as well. These more valuable currencies might however take months to acquire and a lot of people would not have the ability to spend so much time on acquiring them. Thus, gold farming becomes highly useful here.
Employees of these farming entities play for many hours, accumulating this currency in large amounts. This is then sold on an open market, and when a buyer is found the resources are transferred in exchange for a payment of real money instead. That allows the player to buy weapons, items, armor, and other desired things. That means that they will enjoy the game more, and will need to spend less time simply gaining money in the virtual world.
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