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September 20, 2021
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Steven Chung's Blog

 

I am an attorney interested in the video game and virtual world industries. I am the co-founder of virtuallyreal.net a blog devoted to the development of virtual worlds and social media.

 

Member Blogs

Posted by Steven Chung on Fri, 03 Sep 2021 10:01:00 EDT in Business/Marketing, Social/Online
The strict online ban is supposedly a response to complaints from parents but could have unintended consequences.


Posted by Steven Chung on Thu, 29 Jul 2021 10:17:00 EDT
A virtual world with two way convertible currencies should issue business licenses to those users who want to make money through their platform. This will allow casual players to enjoy the game without worrying about taxes.


Posted by Steven Chung on Thu, 11 Mar 2021 10:57:00 EST in Business/Marketing, Design, Programming, Social/Online
The IRS's current guidance on taxing virtual currencies seem to be focused on cryptocurrencies. The IRS's Notice 2014-21 should not apply to in-game virtual currencies, even two way convertible currencies except for rare situations.


Posted by Steven Chung on Thu, 08 Aug 2019 10:41:00 EDT in Design, Production, Serious, Smartphone/Tablet, VR
In light of technology advances, recent shootings and the current composition of the U.S. Supreme Court, a law banning the sale of violent video games to minors might be allowed under the U.S. Constitution.


Posted by Steven Chung on Thu, 30 May 2019 09:24:00 EDT in Business/Marketing, Design, Programming, Serious
A proposed Senate bill seeks to ban certain in-game microtransactions and loot boxes. But the bill's definition of microtransaction is broad and can include any in-game transaction.