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The games are particularly hot in America and Asia. After World of Warcraft was released in China last June, 1.5 million paying customers signed up in a month.

Such ventures - known as massively multiplayer online role-playing games (MMORPG) - have spawned economies that would rival those of a small country but fly largely under the wow power leveling radar of economists, government statisticians and people beyond the 12-to-35-year-old demographic.

However, these economies are becoming increasingly important, says Wharton legal studies professor Dan Hunter, adding that they could redefine the concept of work, help test economic theories and contribute to the gross domestic product in the United States. "Increasingly, these virtual economies are leading to real money trades," notes Hunter, one of a handful of academics closely following this trend.

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