Eve Online Employees Paid in Foreign Currency During Economic Meltdown

August 10, 2009 -

Employees of Eve Online developer CCP Games were paid in foreign currency during Iceland's economic meltdown in late 2008/early 2009.

gamesindustry.biz reports that the unusual action was taken due to wild fluctuations in the value of Iceland's krona. CCP Executive Producer Nathan Richardsson told gi.biz: 

What really was the problem for us was how many of our employees were hit by the [financial] crisis...

We're not out of the woods yet, not by a long shot, but at the very least we could leverage part of CCP's infrastructure that you wouldn't normally think would benefit your employees - allowing people to be paid in foreign currency, for example, makes it much more stable for people looking towards the future - when being paid in Icelandic Krona was still fluctuating by a few per cent here and there, it was very volatile and you can't really work with that kind of currency.


Comments

Re: Eve Online Employees Paid in Foreign Currency During ...

I really wouldn't mind if some eve players were put in charge of world economies.

--------------------------------------------------------

Believe in something! Even if it's wrong, believe in it!

GET OFF MY PHONE!

-Glenn Beck

-------------------------------------------------------- Believe in something! Even if it's wrong, believe in it! GET OFF MY PHONE! -Glenn Beck

Re: Eve Online Employees Paid in Foreign Currency During ...

You do realise that EVE traders are, in terms of the game's background, ruthless hyper-capitalists of the kind that got us into this mess in the first place? That may not be such a good idea.

Re: Eve Online Employees Paid in Foreign Currency During ...

"Finnish Krona"?

WTF?

 

 

--------------------------------------

"Science asks how, and faith asks why"

Re: Eve Online Employees Paid in Foreign Currency During ...

I'd be so proud if Eve Online was Finnish.

Finnish Krona?

Um, what?

CCP is in Iceland.

Finland hasn't had Krona as currency since 1809: http://en.wikipedia.org/wiki/Finland#Swedish_era_.281249.E2.80.931809.29

-- http://pixelantes.blogspot.com/

Re: Finnish Krona?

Exactly, the correct currency is the Krona, but it IS Icelandic, not Finnish. That's why the Currency of Eve is ISK, because that's the abbreviated name of the Currency in Iceland.

http://en.wikipedia.org/wiki/Gameplay_of_Eve_Online#Economy

Re: Finnish Krona?

That and in EVE it stands for Interstellar Kredit, or ISK for short.
But I assume it should be Iceland, since that's where CCP is based, not Finland.
Although I could see them paying out in Euros or any other stable currency in a period in which the Krona was essentially in freefall.

Re: Eve Online Employees Paid in Foreign Currency During ...

I thought Finland has a lot of natural resources backing them up, and banked. Or is it Switzerland I am thinking of.

Re: Eve Online Employees Paid in Foreign Currency During ...

It's a typo, the meltdown should refer to Iceland not Finland.


Re: Eve Online Employees Paid in Foreign Currency During ...

Woo, eve news.

CCP is one of the driving forces behind the Icelandic economy right now.  The CCP annual eve meetup in Reychavik brings so much income into the country that it's practically treated as a national event.

Re: Eve Online Employees Paid in Foreign Currency During ...

That's what you get when you have a very small (320k inhabitants total, most of them in the capital) but rather rich country with a very open financial system.
Speculation literally drove the country to the brink of bankruptcy.

Right now CCP is probably one of the largest sources of non-icelandic currency in Iceland, making the company pretty important to recovery, FanFest will bring hundreds (if not thousands) of tourists to Iceland for a couple of days, which won't be an insignificant capital injection for the local economy.

I'll be visiting FanFest for the first time myself this year, from what I've seen it's a good deal cheaper to go this year than it was in previous years.
(As an example, the Krona was worth almost twice as much last year, compared to today)

 

 
Forgot your password?
Username :
Password :

Shout box

You're not permitted to post shouts.
Goth_SkunkAnd at long last, I think I'm finally done.06/30/2015 - 3:08am
Goth_SkunkAnd if those progressive games fail to make any headway in the market, don't blame gamer culture for not being cultured enough to appreciate the product. Own up to the fact that the game either sucks, is not interesting, or both.06/30/2015 - 3:06am
Goth_Skunknor suggest that the games industry and culture is rife with toxicity because of it and needs to change for the good of the medium. There is room in the market for progressive games to co-exist with games like Hatred, not replace them outright.06/30/2015 - 3:04am
Goth_SkunkAnd if the overly violent content of most AAA games or the perceived mistreatment of women in such games bothers one, by all means criticize it, but do not under any circumstances suggest that it such content shouldn't exist or be promoted,06/30/2015 - 3:02am
Goth_SkunkGames, for the most part, let you do this! You can be the man or woman you're not. You can escape reality and immerse yourself in the experience. And that's wonderful! I play as female characters all the time in games I play, when the option is available.06/30/2015 - 2:59am
Goth_SkunkA choice that nature denied transgender people at birth! People don't undergo gender reassignment because they want to be transgender; they undergo gender reassignment because they want to be the gender they identify with!06/30/2015 - 2:52am
Goth_SkunkBut I think it gets silly when people start asking for the ability to play as a transgender protagonist. I mean, why would one do that? One usually has the option to create a character that's either a man or a woman, gay or straight. You have the choice!06/30/2015 - 2:50am
Goth_Skunkfirst two games, a move which was ultimately corrected in the 3rd game. By extension, Dragon Age has always had the option, and good on it!06/30/2015 - 2:45am
Goth_SkunkBut it certainly is good to see developers entertain the allowance of allowing the player to develop their protagonist to be homosexual if they want. The Mass Effect series was criticized rightly for not allowing a male homosexual romance plot in the06/30/2015 - 2:44am
Goth_Skunkand only just by the slimmest of margins. Homosexuality is sadly still a hot button controversy in the USA, which makes developing a noteworthy game with a hardcoded homosexual lead or theme a dangerous risk to take.06/30/2015 - 2:37am
Goth_SkunkThe United States is the largest single customer base for video games in the world, and it only just mandated by rule of its Supreme Court that marriage ought to be just as much an inalienable right for homosexuals as it is for heterosexuals,06/30/2015 - 2:35am
Goth_SkunkFor example, it would be difficult for a developer to produce a AAA quality game where the protagonist is hardcoded to be MtF transgender, and convince enough people to buy it in order to make it worth its production costs.06/30/2015 - 2:31am
Goth_SkunkNo Mecha, not woe unto those who ask for representation. By all means, ask and be represented. I don't have an issue with it, nor would I say anyone in GamerGate does either. But be reasonable about asking too.06/30/2015 - 2:27am
Goth_Skunkthat would've made Benedict Arnold raise a glass in toast.06/30/2015 - 2:25am
MechaCrashGamers are more than straight white men, but woe unto those who actually ask for representation!06/30/2015 - 2:24am
Goth_SkunkBut Games Journalism, who in the past has stood up for gamers and developers, when their hobby was under attack by idealogues and governments for being overly violent, suddenly switched sides in a move06/30/2015 - 2:24am
Goth_SkunkYet the media continues to push that narrative, and they will continue to do so until their medium dies out from obscelesence or when the old guard retires and is replaced by people who were raised by gamers, people who know the score.06/30/2015 - 2:20am
Goth_SkunkGamerGate, by my view, is far more diverse and inclusive that the purveying culture surrounding games journalism right now. The stereotypical gamer is a straight white male, but GamerGate has shown, time and time again, that this is not really the case.06/30/2015 - 2:18am
Goth_SkunkAfter all, you did just call it a "problem."06/30/2015 - 2:15am
Goth_SkunkAs opposed to setting the bar high, creating a culture clique that promotes exclusivity rather than inclusivity. Cronyism rather than diversity. Do you feel that inclusivity and diversity are just buzzwords to be used whenever convenient?06/30/2015 - 2:12am
 

Be Heard - Contact Your Politician