Manfred researched the weaknesses in game encodings for more than 20 years before hacking them and making enormous sums of money.
Realistic prices for virtual items
Manfred first understood the value of the video game market when he sold Ultima’s virtual castle in 1997. Manfred listed his property on eBay with the expectation of earning a few hundred dollars because houses and castles in the game scenario were in high demand. A virtual castle sold for $2,000.
The young man was fully aware of how to generate income. “According to him, the majority of regular players don’t want to become overextended during the game. – They would rather pay someone else to mine virtual stones than spend eight hours a day doing it themselves”.
Manfred learned how to create countless virtual items after deciphering the video game’s code. He then learned to sell these items for real money.
He recalls posting 200–300 sales announcements on eBay at the same time. His income enabled him to cover his university tuition and other costs. Manfred withheld the precise amount of money he was earning at the time.
Runescape vs Bolivar
Not just Manfred tried to make money in that manner. One of the biggest markets for in-game items was established in Venezuela with the launch of Runescape.
Runescape is very popular in developing nations because it uses the traditional "iron" technology. Making collections and selling them is how a large portion of Venezuelans make their living.
Manfred says, "Gaming money is more stable than Venezuelan fiat money. Those players use Runescape currency to carry out daily tasks like buying bread or paying bills.