Virtual Game Currency: Peer-to-Peer Market for RMT Trading Debuts

Just 4 days ago I wrote this post, eBay Halting The Sale of Virtual Game Currency & Property, Second Life Products Are Still Allowed. The post briefly discussed how the secondary market for virtual currency could be showing many more entries since eBay is now prohibiting these type of transactions. Here’s a clip:

This move by eBay should give a big boost to the secondary market web sites that buy and sell game currency in what is termed, RMT’s (real money trading).

Yesterday, I uncovered a new entry into this arena called Sparter. Sparter is described as “the world’s first company devoted to enabling global Gamer2Gamer trading of virtual currencies.” This new ‘peer 2 peer’ trading web mirrors the now banned eBay auctions by offering direct “peer 2 peer” trading of game gold for World of Warcraft and other MMORPG online games. To help protect buyers and seller, Sparter, not only uses escrow but also has a points reputation system similar to eBay. There is no charge to list items, but a fee of 10% is assessed for a sale. Trading of virtual currencies is a huge growing market so keep an eye out for similar webs to show up soon. Added competition means lower prices and a more liquid market.

I like the Sparter approach to trading, their web is very concise easy to use. Here is a clip from the ‘About Us’ page:

“We started Sparter because we thought gamers and the industry would benefit from a new approach, one founded on the principles of open, efficient, transparent and safe trade. While many companies exist to sell you currency, only Sparter gives you the option of buying direct from gamers and, if you want, making some money by selling to gamers.”

Is there potential for growth in the secondary trading market? You better believe it. Sparter received its financial backing from Bessemer Venture Partners. BVP currently manages over 2 billion dollars of venture capital and is considered one of the most well respected venture capital firms in the United States. They have a great track record of funding start ups. Unlike the execs at eBay, apparently, BVP recognizes the potential for future growth this new industry.

The Sparter web site is available in both English and Chinese.