Ok, that’s actually clickbait. I learned almost everything I know about investing from Everquest, which is an older similar game to WoW, but not that many people have heard of it. That said, I did learn a lot from WoW as well.
In these types of games you kill monsters and take their stuff. That part doesn’t have much real world applicability, but this next part does. The stuff you get from the monsters can be sold to other players in the game, creating an economy much resemebling a real economy.
What I learned as a young kid was that you could buy and sell these items for a profit, and if you were good at it, it was more efficient to spend your time flipping items from other players then actually killing the monsters yourself.
Another thing I learned is that you could also hedge your bets. By buying items that you want or need yourself. Let me give you an example.
In the game, I really want a “Super Powerful Longsword of Death”. It is the best sword in the game. So I find someone selling one cheap for 100 gold pieces and buy it. I equip it on my character and go out and kill some monsters. All the while, I let everyone know that I am selling the sword for 150 gold pieces. Eventually someone buys it (and if they hadn’t that would be fine because I wanted it anyways.). I’ve now made 50 gold. I now wait around for someone to sell a “Super Powerful Longsword of Death” again for 100 gold and I buy it.
As a kid this was sort of a revelation to me, the ultimate win-win situation. I coulnd’t lose.
As time went on, I spent more and more time buying and selling things and less time killing monsters. It was going to take years before I understood that all these skills could be used in almost exactly the same way in real life.
In 2008 I made a website called MMORPGTips.com that I still own, based on these types of games and I started making money from knowing all these things.
Still a few years went by before I started using these strategies in real life. The first thing I tried investing in was stocks. I had moderate success but my theories don’t really work as well with stocks as with other things, since hedging works very differently. You don’t really buy a stock for any other reason than making a profit, I don’t atleast.
Another few years went by and I started looking for a domain for a new gaming site I was launching. I didn’t really want to pay much so I discovered Expiredomains.net through Google, which launched my career in domain investing. I was terrible at it at first, but since I was mostly buying domains that I wanted to develop myself If I didn’t sell them, I realized it worked much the same as making gold in WoW.
Buy domains that I would develop myself. Put them up for sale. If they don’t sale after a while, I might develop it into a site. Win win.
It wasn’t until a couple of years ago that I realized the perfect market to apply my gold making skills though. Antique, retro and vintage furniture and clothes.
My appartment is filled with old furniture, paintings, books and collectibles. It’s just the kind of stuff I like. So I figured I would put it all up for sale online. I had paid very little for most of the things, and a whole bunch I had even gotten completely for free. I quickly started selling things regularly.
So now I use the exact same method of making gold in WoW to make money in real life. I buy a chair or whatever it might be. It’s gotta be a chair I like, because I’m going to keep it in my apartment. I list it for sale on online marketplaces and apps for twice or three times or four times what I paid for it. When I sell the chair, I go out and buy 3 new ones.
At this point I have to start storing some stuff in a storage unit and I will eventually have to get some kind of warehouse.
Anyways, the moral of the story is, if someone tells you that games are a waste of time. Believe me, it’s not. It just depend what you take from it.
Keep following the blog for more info and stories about the stuff I flip for a profit!
If you have any questions, don’t hesitate to get in touch and I’ll try to help you out!