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        Advertisement – How Esports Players and Fans Can Protect Themselves from the Rising Threat of Cyberattacks

        Advertisement – How Esports Players and Fans Can Protect Themselves from the Rising Threat of Cyberattacks

        Excited for Spider-Man: Miles Morales on PS5? Find Out What You Can Expect From It

        Excited for Spider-Man: Miles Morales on PS5? Find Out What You Can Expect From It

        Quarantine Getaway: A Medical Student’s First Six Hours In Animal Crossing: New Horizons

        Animal Crossing “Updates” Show a Troubling Trend for Gaming on the Horizon

        Alien vs. Predator Game

        The Weirdest Alien vs. Predator Game That Almost Happened

        white coats for black lives matter gamers for black lives matter blm

        A Word From Our Founder: DoG’s Stance on Black Lives Matter

        How Animal Crossing Became a Real-Life Income Source in The Pandemic Economy

        How Animal Crossing Became a Real-Life Income Source in The Pandemic Economy

        Could We Be Entering Into a Remake Renaissance?

        Could We Be Entering Into a Remake Renaissance?

        Why Twitch Is Still Winning the Streaming War

        Why Twitch Is Still Winning the Streaming War

        We Went Back Is A Short But Excellent Trip Into Horror

        We Went Back Is A Short But Excellent Trip Into Horror

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          Dev Questions About Stadia’s Viability Hampering Game Publishing on Platform

          Stadia Creative Director Steps in It When He Suggests Streamers Should Pay Game Publishers Royalties

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          Top 5 League of Legends Champions That Counter Blitzcrank

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          Zero Ranger Developers Reveal New Title Void Stranger

          Could Microsoft’s Purchase of Bethesda Make Fallout: New Vegas 2 Possible?

          Could Microsoft’s Purchase of Bethesda Make Fallout: New Vegas 2 Possible?

          Microsoft’s Purchase of Bethesda Sends Shockwaves Throughout the Video Games Industry

          Microsoft’s Purchase of Bethesda Sends Shockwaves Throughout the Video Games Industry

          Tribeca Film Festival to Add Video Games Starting Next Year

          Tribeca Film Festival to Add Video Games Starting Next Year

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          Sega, 1212 Entertainment, and Wild Sheep Bringing Yakuza to the Silver Screen

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          Mike Morhaime Envisions New Company Dreamhaven As Blizzard 2.0

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          Amazon Joins the Netflix-for-Games Niche with Launch of Luna Service

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            Nioh 2 – The Complete Edition (PC) Review: The Doctor’s Assessment

            Nioh 2 – The Complete Edition (PC) Review: The Doctor’s Assessment

            Infernal Radiation Review: The Doctor’s Assessment

            Infernal Radiation Review: The Doctor’s Assessment

            Calico Review: The Doctor’s Assessment

            Calico Review: The Doctor’s Assessment

            Airborne Kingdom Review: The Doctor’s Assessment

            Airborne Kingdom Review: The Doctor’s Assessment

            There Is No Game: Wrong Dimension Review – The Doctor’s Assessment

            There Is No Game: Wrong Dimension Review – The Doctor’s Assessment

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            Trials of Mana Review: The Doctor’s Assessment

            Paradise Killer Review: The Doctor’s Assessment

            Paradise Killer Review: The Doctor’s Assessment

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            Fans Port Mario 64 To PC For Reasons

            Fans Port Mario 64 To PC For Reasons

            Jurassic World Aftermath: An Open-World Survival Jurassic Park Game in Development?

            Jurassic World Aftermath: An Open-World Survival Jurassic Park Game in Development?

            We Went Back Is A Short But Excellent Trip Into Horror

            We Went Back Is A Short But Excellent Trip Into Horror

            Insider Reveals GTA VI Progress

            Insider Reveals GTA VI Progress

            Femida Review: The Doctor’s Assessment

            Femida Review: The Doctor’s Assessment

            GeForce NOW Loses 2K Games Library As Publisher Pulls Titles from Service

            GeForce NOW Loses 2K Games Library As Publisher Pulls Titles from Service

            Horizon Zero Dawn Confirmed for PC Release

            Horizon Zero Dawn Confirmed for PC Release

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            Sony Reveals PS5 Controller

            Sony Reveals PS5 Controller

            Horizon Zero Dawn Confirmed for PC Release

            Horizon Zero Dawn Confirmed for PC Release

            Final Fantasy VII Remake Demo Impressions

            Final Fantasy VII Remake Demo Impressions

            PlayStation Plus Games for March 2020

            PlayStation Plus Games for March 2020

            PUBG Update 6.2 Delivers Long-Awaited Cross-Play Functionalities for Xbox One and PS4 Gamers

            PUBG Update 6.2 Delivers Long-Awaited Cross-Play Functionalities for Xbox One and PS4 Gamers

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            Sony is Leaving GDC Due to Coronavirus

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            PAX East Showcase for Sony Canceled Due to the Coronavirus

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            Sword and Sandals: Spartacus: The Doctor’s Assessment

            Sword and Sandals: Spartacus: The Doctor’s Assessment

            Quarantine Getaway: A Medical Student’s First Six Hours In Animal Crossing: New Horizons

            Quarantine Getaway: A Medical Student’s First Six Hours In Animal Crossing: New Horizons

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            Glass Masquerade 2: Illusions Review – The Doctor’s Assessment

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            Down to Hell Review – The Doctor’s Assessment

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            Demon Pit Review – The Doctor’s Assessment

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            XenoRaptor Review – The Doctor’s Assessment

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            Straimium Immortaly Review – The Dr.’s Assessment

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            PUBG Update 6.2 Delivers Long-Awaited Cross-Play Functionalities for Xbox One and PS4 Gamers

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            Microsoft’s Spencer Names Amazon and Google As Company’s Chief Rivals in the Future

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          How Animal Crossing Became a Real-Life Income Source in The Pandemic Economy

          Ashfaqul Alam Tonmoy by Ashfaqul Alam Tonmoy
          May 29, 2020
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          How Animal Crossing Became a Real-Life Income Source in The Pandemic Economy
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          Ever since debuting on Nintendo Switch on March 20, Animal Crossing: New Horizons has proven to be a quarantine phenomenon. Nintendo sold more than 13 million copies of the game within six weeks of its release, which made a brief yet significant contribution to the company’s 9 percent net sales increase in the fiscal year 2020.

          As the novel coronavirus outbreak continues its rampage across the globe and limits economic activities, countless people have suffered a substantial financial hit. Understandably, people are looking for new ways to make ends meet, and some have found a lifeline in the virtual world of New Horizons. This real-life utility has driven up the game’s sales even more!

          Some enterprising players have been trading in-game Animal Crossing currencies for real money. The most popular of these currencies are Bells. You can find a lot of players cultivating Bells and then selling them for hard cash on e-commerce sites like eBay. Need some Bells? If you are willing to pay, you are just an online search away from having some!

          23-year-old Lexy, who is fresh out of college, is one of the Animal Crossing: New Horizons players who had been using the game as a stopgap income source. She told Ars Technica how she got the idea and then decided to set up a Twitter profile to discover potential buyers.

          Hi friends, lost my job from covid, I really need to make rent this month so I'm selling 2 mil bells per $5, please message me if interested! You can pay after I drop off the bells to ensure its not a scam!!#AnimalCrossingNewHorizons #AnimalCrossingDesigns #ACNH pic.twitter.com/Z58IrvnpkX

          — sellabella (@sellabella15) April 2, 2020

          “I got laid off due to COVID so I’m farming bells in ACNH,” said Lexy on Twitter, who requested to keep her full name secret to avoid legal complications. “I really need to make rent this month so I’m selling 2 mil bells per $5, please message me if interested, I’ll give you a discount the more you buy.”

          However, it’s not just Bells that are in high demand in the virtual Animal Crossing realm. Nook Mile Tickets, Zen furniture, and Golden Tools can also be bought from third-party sellers on the internet. Here’s a bit of information that should help you understand the desirability of these items on the market – there are sellers who made more than $6,500 in Nook Mile Tickets sales from a single eBay listing!

          Lexy represents a growing number of Animal Crossing: New Horizons players who are using the game’s resources to keep themselves afloat amid the global financial downturn. But, these traders risk getting a ban from Nintendo as the company highly discourages such practices. With minimal microtransaction offerings, Nintendo has made it clear that it wants Animal Crossing: New Horizons to be a languid gaming experience.

          Purists argue that the true beauty of Animal Crossing lies in the game’s relaxed setting and slow progress. Therefore, the emergence of this internal economy has angered a significant chunk of the Animal Crossing community. Many players strongly believe these monetization schemes go against the true nature of the game, and in most cases, Nintendo echoes this sentiment.

          Besides the game’s integrity, there are more reasons for Nintendo to be concerned about the rising trend of Animal Crossing currency trading. As Bells become more common as a mode of online transactions, there’s a chance it could be considered a Convertible Virtual Currency (CVC) according to the guidelines of the US Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) at some point in the future.

          In-game item sales for Animal Crossing: New Horizons are flourishing on eBay with one listing generating over $6500 in sales so far! 💸

          We're pretty baffled by this, but fascinated at the same time… #ACNH https://t.co/NXcfYUo2ZC

          — Animal Crossing World 🛩️🏝️ (@ACWorldBlog) April 7, 2020

          FinCEN, besides its other responsibilities, is committed to enforcing the Bank Secrecy Act and Anti Money Laundering laws in CVC transactions. The FinCEN definition for a CVC is a digital currency that has a value in real money terms and can serve as an alternative for actual currencies. If Nintendo greenlights Bell trading for real money, it will be declared as a CVC and be subject to appropriate regulatory measures.

          To date, there is no video games-specific legislation for monitoring money laundering through microtransactions. This means that criminals are potentially exploiting this loophole to invest or launder money via in-game currencies. Since there is no official surveillance, the amount transferred is untraceable. So, cleaning ill-gotten money through video game currency exchanges remains as a potential cybercrime practice.

          That said, the US Treasury has ramped up its efforts to prevent in-game currency transactions spilling beyond in-game economies. It has identified CVCs as a potential funding source for terrorism, organized crime, and other criminal activities. In such circumstances, Bells garnering CVC status would bring a plethora of legal hazards to Nintendo’s door.

          On that note, Animal Crossing: New Horizons is not the only game that has spawned a sizable grey market for in-game currencies. The immensely popular battle royale game Fortnite has also been accused of being a utopia for illicit trading. Fortnite developer Epic Games prohibits these trades, but it does little to stop this market from evolving. But growing fears of FinCEN restrictions might change that shortly.

          they want to keep cheating to make their down "dreamy" and "uwu." i literally have like 60k in Nook Miles just sitting there and so far I'm fully upgraded with terraforming.

          — (victoria)ᵇˡᵐ (@spocknoel) April 7, 2020

          In recent times Washington-based developer Valve has recently updated the microtransaction system for Counter-Strike: Global Offensive. Valve acknowledged the step was taken to prevent criminals from using the game as a money laundering channel. This indicates stricter measures from video game developers in the future to restrain convertibility of in-game currencies to fiat money.

          Nintendo is also losing money as unauthorized vendors continue selling Animal Crossing: New Horizons currencies and add-ons. However, the increase in game interaction, base game, and console sales are more than making up for that loss. The Japanese company likely couldn’t care less about players making some extra money through in-game currency trading if there were no threat of looming legal perils.

          Therefore, those who are attempting to weather the Covid-19 induced economic slowdown through Animal Crossing: New Horizons enterprises, need to be aware of the fact that this might be a temporary arrangement. There’s no guarantee that Nintendo won’t take a harder stance in the near future regarding this matter and it’s more likely than not they will want to protect themselves from any legal liability.

          Tags: Animal CrossingCoronavirusNintendo
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