Guide to the Meiyo Economy
The Circular Flow of Income
Meiyo is more like an economy than a business, hence to understand the workings of the economy you must understand the fundamentals of economics. More specifically, you need to understand the circular flow of income and its impact on economic growth.
The circular flow of income describes the way money flows around the economy: businesses pay households a wage in return for their labour, and households spend these wages on goods and services to satisfy their needs and wants. The more households spend on goods and services, the better off they will be because businesses can either employ more workers or pay their existing workers a higher wage. Moreover, businesses can drive innovation by reinvesting profits.
Of course, the circular flow of income is much more complex than this, but this brief explanation covers the fundamentals that will be relied upon to justify Meiyo’s virtual economy.
Meiyo's Circular Flow of Income
Creators can:
Charge entry fees, one-off purchases or subscription fees for their experiences.
Earn royalty fees each time their assets are exchanged on the marketplace.
Players can:
Earn skins and other assets by winning competitions or completing challenges.
Sell these assets to other players and make real money.
Summary
As long as player demand for Meiyo experiences and marketplace assets remains strong, the above process repeats, hence income flows in a circular motion around the Meiyo economy. This is important because demand in the Meiyo economy will influence the average price of assets in the marketplace.
