Anything like domaining?

[jasdon11]

While pondering the fact that domaining has produced quite a few multi millionaires, despite it being a relatively unknown industry and the vast majority of the population regard it as some kind of 'black art'.....so what else is there going on around us like this? What other cottage industries do you know of that makes good money for those who take the plunge?

Personally, I don't know of anything similar, but surely there must be - what do you think?

 

[draggar]

Plenty of illegal activities but I'm sure there are some that are legal. DUI defense attorney?

 

[jasdon11]

Plenty of illegal activities but I'm sure there are some that are legal. DUI defense attorney?

LOL - I'm thinking of things that someone could get into today and start trading. Not suggesting that anyone should start domaining in that way, but it's possible.

 

[draggar]

Well, if you really wanted to, you could join one of the many MMORPGs that are out there and make money selling money on the game, that's a big business. Nothing illegal but seriously frowned upon except for those who buy and sell the money, which is just about everyone.

 

[jasdon11]

How does that work - do you have any example sites please?

 

[theinvestor]

Jason,

There are many MMORPG's ...just a couple..

World of Warcraft and Ragnarok

Now check this google link and you will see what draggar is talking about. There is a huge business in making money on these games and then reselling money to people.

In these two cases ..on World of Warcraft it's gold and on Ragnarok it's referred to as zeny.

http://www.google.ca/search?hl=en&safe=off&q=world+of+warcraft+buy+gold&meta

 

[jasdon11]

Interesting. I'm not into gaming and didn't realise that this exsisted, thanks guys! What happens when the game becomes less popular - any longevity in it do you think?

 

[theinvestor]

I know people who try to do this for a living...hop from one game to another. Usually playing multiple games at a time. Trying to earn as much as possible.

Not a fun way to live...but to each their own.

 

[Vinternatt]

But as there are lots of scammers, people are hardly trusting someone and buy golds, items etc from other players. It is a hard thing to do. You have to play a game for long hours to level up your char, earn golds and then you have to find people that can trust you. Also you, the seller, can't trust anyone as well. If you get the money via PayPal, buyer can take it back and you can't prove anything. This happens in domain industry too, but at least you have some records etc to fight with scam. But in online gaming? It is troublesome.

 

[jasdon11]

Doesn't sound like a scalable business...

What else is out there?

 

[thevirtual]

Maybe dropshipping. This is becoming more popular with people wanting to make money on the net but is still somewhat unexploited. There is still a great opportunity for someone resourceful enough.

I know people who try to do this for a living...hop from one game to another. Usually playing multiple games at a time. Trying to earn as much as possible.

Not a fun way to live...but to each their own.

The question is: do people make decent money from MMORPG's? How much risk is involved?

 

[theinvestor]

Well...i think people need to realize anything that is done over the internet has a lot of risk period.

 

[jasdon11]

Maybe dropshipping. This is becoming more popular with people wanting to make money on the net but is still somewhat unexploited. There is still a great opportunity for someone resourceful enough.

Dropshipping is big business, and pretty mainstream. Still largely involves domaining/sites to get orders in (or mainstream advertising/call centers).

I'm thinking of things that have good business foundations, but are kind of 'undergound', has low if any barriers to entry. Things that would get the same sort of reaction from people as when you tell them you're a domainer...

 

[fab]

While pondering the fact that domaining has produced quite a few multi millionaires, despite it being a relatively unknown industry and the vast majority of the population regard it as some kind of 'black art'.....so what else is there going on around us like this? What other cottage industries do you know of that makes good money for those who take the plunge?

Personally, I don't know of anything similar, but surely there must be - what do you think?

What an excellent question. You know I got to domaining after trying:
futures, options, day trading, swing trading, forex. Why do I have to explain domaining to everyone, starting from my bank manager and everyone else.

Maybe someone shou;d start some sort of PR campaign!

 

[thevirtual]

Maybe someone shou;d start some sort of PR campaign!

There have been many PR campaigns already, problem is that they are all negative PR. Noone knows what a Domainer is but they will understand as soon as you mention "cybersquatter".

 

[draggar]

MMORPG money:

It's low ROI. Sure it's cheap but you're talking hours and hours and hours of work for little money unless you expoit a bug (bannable) run a casino (bannable) or learn a trick. Most of these companies have teams of people selling and selling who are also good at the games so they can make the cash quickly. They also build up characters and sell them (also frowned upon in the community).

 

[Stian]

Making money on MMORPG currency is a dirty, dirty business. I have seen documentaries about that and the huge companies like IGE.com (which was recently sued by Blizzard), have several hundred kids working day and night, farming in-game currency. I'm not saying it's child labor or similar, as the kids seemed to have a decent work environment and they also got a place to sleep and eat. But still, very shady business IMO.

As an example; with a level 70 well-equipped character (World of Warcraft), you will be able to "farm" around 100-500 gold in 8 hours work (depends on luck with drops from monsters etc.).

Now IGE.com sells 500 gold for $10,95 .. If you were to do this alone, it means that you will make $1,37 / hour, even less if you're having a bad day. Now try to imagine what those poor kids earn.

 

[theinvestor]

These days draggar, they have programs that run bots...the ones making a lot of money are really just sitting there doing nothing.

 

[draggar]

and they rake in so much money...

And as for bots they better be really good or else they'll be banned (and have to start from scratch)

 

[Stian]

These days draggar, they have programs that run bots...the ones making a lot of money are really just sitting there doing nothing.

Blizzard gets better and better every day detecting these bots, which will eventually lead to banned accounts. If your account gets banned, all gold on that account is purged and you will need to open up a new account (which means you need purchase a new WoW copy, with a unique serial number).

Unless you have an army of people working with this, I see no money in it whatsoever.