Virtual goods

Virtual goods or virtual items are items that are purchased or traded for use in games (especially online) or other online venues (social networks, communities, etc.). Some games use this to generate income allowing the game to be played for free. Virtual goods can be special weapons, clothing, gifts, or other items the player purchases. In some venues, these can be traded, sold, or given as gifts to other users.

Common places to find virtual goods are in online games, cellular phone applications, and games on social network sites. Although most virtual goods cost only a few dollars, analysts expected in 2009 that virtual goods would make an estimated 5 billion dollars in the United States.

Who owns a virtual item?

When you obtain a virtual item, most companies' TOS (terms of service) indicate that when you use their service, you agree that you do not own any virtual item. If you lose access to your account, all virtual items are also be lost. Also, if you were to be banned or caught cheating, virtual items may also be taken away.

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