Digital gold from Blizzard’s massive multiplayer online game “World of Warcraft” is worth more than actual Venezuelan currency, the bolivar, according to new data.
Venezuelan resident and Twitter user @KalebPrime first made the discovery July 14 and tweeted at the time that on the Venezuela’s black market — now the most-used method of currency exchange within Venezuela according to NPR — you can get $1 for 8493.97 bolivars. Meanwhile, a “WoW” token, which can be bought for $20 from the in-game auction house, is worth 8385 gold per dollar.
It happened again, WoW gold is worth more than the Venezuelan Bolivar.
Black Market: Bs.F 8493.97 per USD
WoW Token: ~8385g per USD. pic.twitter.com/Il7TVqYNsH
— Kaleb (@KalebPrime) July 14, 2017
According to sites that track the value of both currencies, KalebPrime’s math is outdated, and WoW gold is now worth even more than the bolivar.
According to the site dolartoday.com, which actively tracks the worth of the bolivar on the black market, the bolivar has dropped to 11,185.95 per dollar since KalebPrime posted .
Meanwhile, according to mmobux.com, which tracks the value of WoW’s in-game currency for sales outside of the game, the lowest sale of 10,000 gold in a real life exchange will get you $1.21.
This drop in the worth of the bolivar is stark compared to its worth just a few months ago. In May, 279 bolivars would net $1, according to CNN Money. In June, the worth dropped to 408 bolivars for every dollar.
The Venezuelan bolivar has continued to see a massive decline in worth over the past few months, becoming essentially worthless. In May, it was reported that inflation within the country was suspected to surge 720 percent by the end of 2017 and a staggering 2,068 percent the following year.
The Venezuelan economy has suffered greatly under President Nicolas Maduro’s socialist regime. The drop in oil prices, combined with the Venezuelan government’s mismanagement of the economy has resulted in a shortage of everything from food to everyday items. The problem is so severe that a February report showed that 75 percent of Venezuelans were losing dangerous amounts of weight.
Furthering the bolivar’s crash was economic sanctions passed by the U.S. on the socialist nation Wednesday. According to the New York Times, the sanctions were a threat from President Donald Trump against Maduro gathering a constituent assembly meant to rewrite the Venezuelan constitution and solidify Maduro’s power over the country.
CNN reported Monday that Maduro proceeded with the assembly, effectively putting the entirety of the Venezuelan government under his control. The Times reported that Trump had warned Maduro on Wednesday that if he carried out the assembly, Trump would push for further sanctions.