CS: GO skins have their separate market, which is quite expensive. If you are a true gamer, you must have heard about it. The price starts from around $300 and goes as high as in thousands. But to everyone’s shock, it reached six future digits recently. Yes, a 6-figure price of real-world money to buy a virtual attack tool.

This has made history that someone has bought a CS: GO skin by paying $100,000. You might think that he must have lost his mind. But what about the others. Though not everyone can afford to pay so much money, people are actually spending hundreds and thousands of dollars on buying these products.

Source: Suttida Yang

Why spend so much?

Critics do ask for the reason as to why would someone spend so much to buy in-game items. Because they think it is pointless to do so. They are of no use to them. Furthermore, skins surely have no significant benefit. Therefore, it is understandable that a person can spend some cents or dollars but why spend thousands of dollars?

The answer is very simple. The rarity of these items makes them expensive. The skin might not be as effective in making you win the game but it is a rare item. Not everyone will have it and that’s what drives the thirst to grab your hands on it.

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A marketplace for CS”GO skins

It is completely possible that you can resell the skins and get your money back. For example, you purchased a skin but now another one is in the stock and you want to have it. However, you don’t have much money.

So you can simply sell the previous one and add some more and buy your favorite by going to cs.money. There you will have your personal account that makes security even better. In addition to this, you can also have their prime subscription. Thus, you will be able to get better trade deals.

Source: BuzzFrag

The craze over virtual items

You can spend as much money as you can afford only to get what you desire. This is true in all cases, irrespective of the social class and area of spending. Why are paintings so expensive? Though it is a work of art and the name of the artist plays an important role in determining the price. But despite that, some paintings are too expensive and people buy them.

This is similar to buying virtual items in games. It might be of no value for others but that is not the case for gamers. Only the jeweler knows the worth of a stone. Only a jeweler can know if the stone is a piece of rock or is a diamond. Likewise, having rare items and skins in games decides the social status of players in games. If you have the items that others crave, they will be respectful to you.

Source: PC Gamer

A marketing strategy

Monetization of games only started recently. Gaming companies spend a lot of their resources in research and development and only after so many struggles, they release a game. But the gaming market is already too competitive. Therefore, if a company wants to make their name or make money, they need to introduce something unique. All these struggles increase the worth of a game. And when the game starts to have a set number of players, their start to introduce new items.

But if the items are accessible to every player, this won’t bring much profit to the company. Therefore, they need a proper marketing strategy. So what they do is to make these items rare ad if you want to buy them, you need to fulfill certain conditions. For example, you must be at a certain level in-game and must have a certain point score.

This results in increasing competition and so everyone tries hard to reach the goal in order to buy rare items. Furthermore, as all players know the conditions well, so if someone has that rare item, it will show his game status and level. Thus, gamers get a sense of achievement and success with these virtual items that seem useless to others.

Source: PCGamesN

A high demand (supply chain rule)

Like any other market product, the market of CS: GO skins also follow the rule of supply and demand. If you have some knowledge about different skins and their colors and types, you already know that the blue ones are relatively cheaper. And why would somebody buy a cheap product? Especially when it is of no use to him?

However, that is not the case with other skins. Rare knives are worth more than thousands of dollars, as they are already at 6 digits. So what companies do is introduce a rare item and increase its price many fold. This low supply results in increasing the demand that further increases the price.

The situation is similar to why the price of diamonds is so high. Though it is just a transparent stone that reflects light, jewelers depict it as something very rare. Thus, it results in increasing its demand and sellers get the price they want.

Gaming companies introduce a limited number of items when it comes to rare objects. And a shortage of these items in the market will further increase their price. So if only a few skins are left from the whole stock, everyone will go mad over it.

Because they know that this is their only chance to get it. Once it is gone, they won’t be able to get it again. Therefore, everyone will try harder to collect money and buy the product they long for. Even if they have to pay more than the original one, the collectors will do so. This competition is even high in Chinese and Japanese gamers.