In the world of online gaming and digital spaces like Second Life, there is a parallel, virtual economy. But this translates as cash in the real world, a good example of why we should avoid dichotomizing “real” and “virtual,” and instead see them as supplementing each other.

EBay bans auctions of virtual treasures – Los Angeles Times:

Researcher Edward Castronova of Indiana University estimated in his book, “Synthetic Worlds: The Business and Culture of Online Games,” that more than $100 million changes hands each year for these digital items — a good portion of it on EBay.

With so much money at stake, disputes over the ownership of these digital bits are getting more heated.