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What is RMT?

RMT, short for Real Money Trading, is a practice that can be tracked down to the incipience of online gaming. Despite, all the efforts of the companies that want to have exclusive profit from their games, 3rd party RMT survives within the online gaming environment. It adapts continuously and never dies, despite the efforts of companies to make it extinct. It could be said that it is like an evolutionary arms race between pray and predator, one adapting continuously to the other, both improving but never annihilating totally the other. Both have to do, what they have to do to survive.

So what is the definition of RMT? It is the exchange of virtual goods and/or services for real world currencies. However, there are two types of RMT market: the primary market, operated by the company that owns the game; and secondary market, where players buy and sell virtual assets between each other without permission or involvement from the game owners.

The secondary market, it’s what is usually denoted when a player talks about RMT. Buying in-game currency, items, characters and services from 3rd party websites - in the case of EVE Online, buy ISK, PLEX, Ships, cortical implants, modules, etc – constitutes the core of the market, but single players also engage in this market using forums and sometimes they are the suppliers to the 3rd party websites. Most game companies, but not all of them, dislike this and make it a violation of the EULA and/or terms of service of the game, therefore making it unsanctioned or illicit RMT. The reason? Obviously, they aren’t receiving any revenue from this market.

A lot of players disagree with the strict policies of such companies, otherwise they wouldn’t use the secondary market. As we can see there is a rising trend of lots of companies that infest their games with microtransaction, some of which provide solely aesthetical boost, but others give real advantage to players who are willing to pay for it, therefore, making the game pay to win. Another trend, related to the greed of these companies is that of launching incomplete games, and then adding the rest in several expansion packs, to extract more and more money from the pockets of the player.

EVE Online was one of the first games to incorporate RMT, with PLEX (30 Days Pilot License Extension), in-game items that the company of sells for real money to the players, who can either re-sell to other players for in-game items or currency or redeem them for game time (one month worth of subscription).

Exceptions? In Second Life it’s perfectly legal to convert the virtual currency to real world currency, and in the past, In Diablo 3 and Entropia universe.

EVE Online, unless you spend a lot of time playing the game, is pay to win, and a lot of people don’t have the time neither the money to buy ISK and PLEX from the primary market. We saw here not only a business opportunity, but one that simultaneously helps this kind of players to have a chance in their favorite MMORPG.