China’s Civil Code Enables In-Game Virtual Products to be Inherited – Pandaily
Just recently, China’s parliament revealed its initial draft of the civil code, a large range legal bundle that includes the defense of civil rights including home, agreement, character, marriage, infringement, and inheritance.
In the law concerning inheritance, the government made a significant change that might affect the Chinese gaming market, particularly as it relates to in-game virtual products.
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The original 1985 edition of China’s “Inheritance Law” included civil income, house property, trees, cultural relics, and copyright. The new civil code erased the above term, and altered it to “When a natural individual dies, the legacy is the individual legal property left by she/he.” Therefore, the change indicates web home and virtual currency will be acquired.
In an interview with China Central Television (CCTV), China’s primary state-run channel, Lixin Zhang, teacher at Renmin University of China, specified that the 1985 edition of Inheritance Law has actually been not able to adjust to the current needs of 2020 Chinese society. China has actually been establishing rapidly, and numerous laws and regulations need to improve.
Nowadays, in-game items can bring high rates in their particular community markets. For example, the “Alpine Stalker’s Set,” a skin embeded in Dota 2, can be priced as high as $1, 200. In Counter-Strike: Global Offensive (CS: GO), a weapon called the “StatTrak M4A4 Shout” can be resold at up to $26,000, making it the most pricey product in CS: GO.
How the law enables these virtual items to be acquired is still to be seen i.e. will the accounts holding the products be passed on, or just the products themselves? Between May 21-28, China will host the 3rd session of the 13th National Individuals’s Congress, with the draft of the civil code to be discussed.