Virtual Asset Sales

Virtual Asset Sales (VAS) refers to any game business model that offers its players to acquire in-game items through the use of real-money. It can be via a credit card or prepaid card, or can be in various forms like a reward points program, wherein the points are acquired through a direct involvement of real-cash - example is by topping-up your account. The Virtual Asset Sales is also called "Virtual Item Trading", while in China, "Virtual Item Trading" (VIT) is their terminology for what the rest of the world calls as "Real-Money Trading".

Basic Idea & History

The Virtual Asset Sales model basic idea is to sell virtual assets or items. It can be an online MP3 store or video store, but the most common use is for online gaming. The VAS model was popularized in Korea through the appearances and popularity of avatar portals, giving their customers a customizable avatar where they can buy items and dresses to become uniquely identified.

In North America, California-based Iron Realms started using VAS model in their online text MUDs in 1996 Fact|date=January 2007, formalizing the pay-for-perks system that had been established in earlier text MUDs such as BatMUD, [http://groups.google.com/group/rec.games.mud.lp/msg/1c1976d66bb4c802?&hl=en] Medievia, [http://groups.google.com/group/rec.games.mud.diku/msg/34ce0e23497fbf31?&hl=en] and Dark Castle. [http://groups.google.com/group/rec.games.mud.diku/msg/dbff4636ff3dd6b5?&hl=en]

From there, online games like "GunBound" developed by "Softnyx" further popularized the VAS business model, spreading it across the globe and getting the attention of different online game developer companies. With the success of the VAS model in online gaming (analysts and business experts are doubtful about the VAS model), publishers like "e-Games Malaysia" adopted the Virtual Asset Sales business model to many of their games like "With Your Destiny 2" (Asian rebranding as "Supreme Destiny"), "RAN Online", "MapleStory", "O2Jam", "Gateway to Heaven" and many more.

The VAS model today

The Virtual Asset Sales model today is now one of the major business model competitor of the popular "subscription-based" model. And publishers like Level-Up! Inc. gave birth to a new online gaming model through the mixture of the VAS and subscription-based models - the "Hybrid" model. The first publishers who used the Hybrid model were "MAGICS", "Z-Zone Online" (developer and publisher of "SkyBlade") and "NetPlay" publisher of "Priston Tale". From Level-Up! Inc, the first officially announced hybrid model game of their company is "R.O.S.E. Online", announced after the merging with "netGames, Inc.".

With a Hybrid mode, the online game still requires a subscription on a per hour basis or monthly basis and at the same time allowing its players an option to acquire other items of value through another channel - the sales of item via real-money, simply the VAS model.

The Difference of VAS to RMT

There is not much of a difference when it comes to online gaming. Basically, RMT or "Real-Money Trading" is the act of selling virtual items through the use of real-money which is the same as the Virtual Asset Sales model. The VAS model on the other hand goes further by its "official" status from the game developer or publisher, or if it is a built-in feature of the online game (examples are: "GunBound", "O2Jam", "Audition Online" to name a few). RMT is illegal while VAS is official.

This is how the two terminologies are differentiated at the business level, but outside of online gaming, the two terms overlap and are often used interchangeably.

References