BEIJING, Jun. 29, 2009 (Xinhua News Agency) -- ZT Online, the 2D massively multiplayer online role playing game (MMORPG) developed by the Chinese online game operator Giant Interactive (GA.NYSE), will close the "box opening" game function July 6, in response to the country's official rule on the use of virtual currency.
Every time a player conducts a "box opening," they're charged an amount of money so small that it leads the player to continue gambling on. The game rewards players with a probabilistic chance to win a real life luxury item.
The function now is growing more and more popular in the online game industry. Games including World of Legend under Shanda (SNDA.NASDAQ) and Tian Long Ba Bu under Sohu.com (NASDAQ:SOHU) (SOHU.NASDAQ) also adopt similar features.
China has unveiled the first official rule over the use of virtual currency in the trade of real goods and services to limit its possible impact on the real financial system.
The most popular Chinese online credits are "QQ coins" issued by Tencent.com (0700.HK), which carry at least 220 million registered users. In a media statement made June 20, the company said it "resolutely" supported the new rule.
Under the new rule, using virtual money for gambling will be punished by public security authorities.
The rule also forbids a single company from issuing and trading virtual currencies at the same time. Virtual currency trading platforms must apply for the qualification to operate virtual currency trading.
