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Virtual Currency Defies Real Logic

  • GigaOm, Thursday, July 30, 2009 2:51 PM
In other virtual news, nearly 12% of Americans report having bought a virtual item at some point over the last 12 months, according to a new study by analyst firm Frank N. Magid Associates and commissioned by virtual currency provider PlaySpan. Defying all earthly logic, the virtual goods and currency market will reach an estimated $1.8 billion this year. So, who's got money to spare on imaginary goods. Demographically, 15% of males aged 12-24 reported purchasing virtual goods, while 15% of women between ages 35-44 did so, too.

According to Mike Vorhaus, president of Magid Advisors, the boys are getting virtual swords for their MMORPGs, while the women are buying virtual flowers on Facebook. Categorization by ethnicity was also diverse, with Asian-Americans on the high end - 16% -- and the rest some 1-to-5% behind.

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