Virtual Economy Research Network

This study tries to investigate hidden key factors that have brought a huge success to a Korean game called Lineage. The game has been thoroughly overlooked by western critics for its toiling nature of gameplay. But, the game design suitable for beginners, forming of item trading markets which gave economic incentives as well as fun motives, and unique playing practices that made it possible for players to stay longer are closely interwoven with each other. The first part of the paper is the theoretical review of trading markets which played a special role in the overall process, and the second part is the illustration of main historical moments of Lineage in Korea in the application of theoretical discussions.