Counter-Strike market explodes. Prices skyrocket overnight.
(media.scored.co)
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Red skins have shot up, knife skins have plummeted. Supposedly the CS skin market overall is down like 20%.
But the craziest part is that it was worth anything in the first place.
Any economics major worth their salt should be studying this crap.
They were all fired after Bretton Woods was implemented.
Is there really anything deep and insightful to glean from this situation beyond "lmao gamers"? It's just another trainwreck that befell upon financially irresponsible dipshits with disposable income.
Considering how much if a parallel economy was built in the third world shitholes that revolves entirely around this game (and a bunch of others like Runescape) its probably a very interesting study in how capitalism itself can naturally evolve completely independent of government forces.
Like there is plenty "lmao retards gambling on pixels" on the surface, but how it reached the state it is in has all sorts of interesting aspects. Because unlike NFTs and Crypto, these types of markets were mostly organically formed.
Fair.
Pretty much. It's degenerates gambling on an investment that is driven purely by the greater fool theory: buy an overpriced item now so you can sell it at an even higher price to someone else, who is looking to sell it for even more to a third fool.... Good investments are by some means a productive asset - they have a source of incoming money other than the investors themselves.