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The MTGO Virtual Economy: A Case Study on a “Play-to-Earn” Game That has Existed Since Before Cryptocurrency Was Even Invented

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Games and Culture: A Journal of Interactive Media

Published online on

Abstract

Games and Culture, Volume 21, Issue 4, Page 647-665, June 2026.
MTGO is a virtual simulation of the popular tabletop game, Magic: The Gathering Online. For over 20 years, it has developed a robust virtual game economy that is connected to the real-world market through the game's set redemption feature. In this case ...