Play-to-Earn Games: The Survival Story of Venezuelan Players Amid Economic Crisis

A sanctions, an online game, and millions of desperate people. That is the strange formula of a rare social phenomenon: thousands of Venezuelans playing Old School RuneScape (OSRS) to survive the worst economic crisis in half a century. From 2017 to 2023, playing for money in the game has become not just a pastime but an official livelihood, helping Venezuelan families escape hunger and hyperinflation.

Collapsing economy and solutions from the virtual world

Venezuela was once one of the wealthiest countries in South America thanks to its massive oil reserves. However, since 2013, the country has fallen into an unprecedented economic recession. Between 2013-2021, Venezuela’s GDP shrank by a total of 75-80%, creating the largest economic crisis globally in 45 years — even worse than the US Great Depression or the collapse of the Soviet Union.

Hyperinflation rendered the Bolivar worthless. In August 2018, before currency reforms, the annual inflation rate exceeded 48,000%. In just four months, the black market exchange rate of Bolivar to USD plummeted from 1 million:1 to 7 million:1. Paper money became valueless — it was worth less than waste paper.

To find a way out, Venezuelans discovered an unexpected path: playing OSRS for money. This game launched its Old School version in 2013, essentially a re-creation of RuneScape from August 2007. Developer Jagex experimented with bringing back the old version to attract former players. This strategy exceeded expectations, helping RuneScape’s IP survive and thrive.

Fortunately, OSRS is an older version that can be played via web browser, requiring low computer specs, perfect for millions of Venezuelans using old Canaima computers (only 2GB RAM) — devices the government once distributed for free to students. Thus, educational computers became survival tools.

Playing for money: From livelihood to cultural phenomenon

In 2017, a popular Reddit post described how to “hunt” Venezuelan players in the “Eastern Dragon” area — a location in the game where green dragons appear. From 2017-2019, Venezuelan players gathered here, continuously killing dragons to loot dragon bones and hides, then selling them on in-game marketplaces for gold.

Playing for money in the Eastern Dragon area generated real revenue: one hour of green dragon hunting could earn 500,000 OSRS gold, roughly $0.5 USD. More advanced players hunting Boss “Zurlah” could make 2-3 USD/hour — a wage higher than most college graduates in Venezuela, who earn about $10/month.

The most desperate part is that the exchange rate of in-game currency to USD (1-1.25 million:1) is much more stable than the Bolivar. Venezuelan players play OSRS for gold, then convert it into Bitcoin or other cryptocurrencies, and finally cash out to support their families. Interviews with Venezuelan players reveal many earn over $100 per month from OSRS — a huge sum compared to the country’s average income.

Unlike Filipino domestic helpers in Hong Kong who can appear openly on the streets, Venezuelan players must remain anonymous. They create multiple alt accounts to avoid bans, as Jagex prohibits real-world trading of in-game items. Like cryptocurrency users using burner wallets for safety, they live in the shadows of the gaming world.

The decline of playing for money: When bots and gold prices crash

From 2023 onward, the bright picture began to fade. OSRS gold prices suddenly plummeted as numerous bots — automated programs that operate nonstop — flooded the market. Gold production surged, and prices collapsed accordingly. Currently, the OSRS gold exchange rate is only about 1 million:0.16-0.2 USD — a ridiculous figure compared to the glory days.

But playing for money doesn’t stop; it just shifts elsewhere. Venezuelan players turn to other games like Tibia, Albion Online, World of Warcraft — titles where farming profits are still more promising. They continue seeking livelihoods in virtual worlds to survive in the real world.

However, an unspoken question lingers: “Is this life of playing for money right?” Some players decide to leave the virtual worlds, even their homeland. According to early 2026 data, about 7.9 million Venezuelans have fled the country, creating one of the largest refugee crises in Latin American and global history.

From virtual worlds to harsh reality

The world pays attention to international crude oil prices or Venezuela’s stock market during times of unrest, but RuneScape players care about in-game gold prices. When Maduro left Venezuela declaring an end to an era, Venezuelan players also “left” OSRS, marking the end of another era.

The story of playing for money in Venezuela is not just about survival but about the intersection of real and virtual economies, despair and creativity. The moments Venezuelan players play for money are moments they choose to escape; the moments they leave are moments they face reality.

Today’s OSRS world only remains as legends about Venezuela — burner accounts turned off, once bustling farming spots now quiet, profits that once helped entire families survive now only memories. Playing for money was once a bridge between despair and hope, but it cannot save a nation sinking into crisis.