Virtual Wealth Realization in Virtual and Real Worlds

This paper has investigated the issue of virtual wealth and its realization in both real and virtual worlds, and argued that the realization of virtual wealth is necessary and possible. On the formation of virtual wealth, it has studied the labor theory of value, exchangeable value, and utility theory. From these theories, it has successfully explained the nature of virtual wealth that has difficulties in realization within a closed virtual world. It thus promotes an open virtual world for virtual wealth realization. In finding the approach to open virtual world, key elements about open virtual world are discussed. Based on the assumed open virtual world, the classification, measurement and factors of change on virtual wealth are described, and the methods of realizing virtual wealth in both virtual and real worlds are proposed. To validate the method, an accountability matrix is proposed and used to analyzing the case of Second Life virtual world.