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The Impact of Counter Strike 2 Release on the Intra-Game Item Prices
Název práce v češtině: Vliv vydání Counter Strike 2 na ceny herních předmětů
Název v anglickém jazyce: The Impact of Counter Strike 2 Release on the Intra-Game Item Prices
Klíčová slova: Alternativní investování, Counter Strike, skiny, Tobit model, API
Klíčová slova anglicky: Alternative investing, Counter Strike, skins, Tobit model, API
Akademický rok vypsání: 2022/2023
Typ práce: bakalářská práce
Jazyk práce: angličtina
Ústav: Institut ekonomických studií (23-IES)
Vedoucí / školitel: prof. PhDr. Ladislav Krištoufek, Ph.D.
Řešitel: skrytý - zadáno vedoucím/školitelem
Datum přihlášení: 19.06.2023
Datum zadání: 19.06.2023
Datum a čas obhajoby: 11.06.2024 09:00
Místo konání obhajoby: Opletalova, O314, místnost. č. 314
Datum odevzdání elektronické podoby:29.04.2024
Datum proběhlé obhajoby: 11.06.2024
Oponenti: Mgr. Martin Hronec
 
 
 
Seznam odborné literatury
Unknown. 2023. The evolution of team stickers in CS: GO: from 2013 to 2023. Cover.gg.
John. 2023. The History of Weapon Skins in Counter-Strike: Global Offensive (CSGO). FPS Champion.
Baumgartl, R. 2023. 10 Multiplayer Games With The Highest Player Count. TheGamer.
Reid, G. 2012. Motivation in video games: a literature review. The Computer Games Journal.
Mahapatra, T.D. 2023. Counter Strike 2’s possible release date, platforms and more, details inside. Hindustan Times.
Wilde, T. 2023. Gaming opportunities for investors in 2023: Generative AI, low-code, metaverse, and more. GeekWire.
Clement, J. 2021. Global in-game consumer spending market value 2020-2025. Statista.
Gibson, E., Griffiths, M. D., Calado, F., et al. 2023. Videogame player experiences with micro-transactions: An interpretative phenomenological analysis. Computers in Human Behavior: Volume 145.
Předběžná náplň práce v anglickém jazyce
Research question and motivation

As Reid (2012) suggested, the motivation for many video game players is intrinsic. However, some games offer on top of the gaming experience an investing opportunity. Additionally, according to Clement (2021), it is estimated that by 2025 in-game spending will reach over $74 billion per year. Moreover, micro-transactions (in other words low-cost virtual items), which are a popular form of purchases, include cosmetic items for player models, such as skins and stickers (Gibson et al., 2023). In my bachelor thesis I would like to focus on a market for items purchasable in Counter Strike (CS). More precisely, the effect of announcement and release of CS 2. Counter Strike is a free-to-play, first-person shooter game, which had several versions. The most recent one is Counter Strike Global Offensive (CS: GO). This version has been released in 2012, and till nowadays is one of the most popular multiplayer games (Baumgartl, 2023). In 2022 according to Wilde (2023), there was an uprising trend in interest about free-to-play games. This statement coresponds with the ongoing analysis of concurrent CS: GO players, which is operated by SteamCharts. As John (2023) stated, skins have been added to CS: GO in August 2013, and according to Cover.gg (2023), first stickers have been released in 2014. Both are items purchasable and tradable for real money. It is important to state that none of the two add any advantage for the player who has bought them, they are just aesthetic additions. The aim of my bachelor thesis is to examine the effect of release of Counter Strike 2, which has been announced to be in summer 2023 (exact date still not known). According to Mahapatra (2023), the release might be delayed due to major bug fixes and polishing. The reason why my research is possible is that all items which player have in CS: GO will be transferred to CS 2. Further, after an announcement of the new version of Counter Strike, which was on 22nd of March 2023, a significant increase in price of CS items has been recorded. For some the change is larger than for others, and I am safe to state that it is because of the new engine CS 2 will be run at.

Contribution

The main aim of this bachelor thesis is to broaden the general knowledge about this alternative investing opportunity. Naturally, an aim to explain the determinants on which a price of CS items depends is also important, with most attention put on the release of CS 2. The Counter Strike market cap is according to Priceempire approximated at over 3.5 billion USD. Even though the precise value is nearly impossible to obtain, because of the many aspects on which the price of an individual item depends, this shows the size of the market. The results could be used by both investors and regular players. For the former ones, key aspects that differentiate investing in Counter Strike could be explained. Regular players could use information from my bachelor thesis to deepen their knowledge about the behaviour of CS items.

Methodology

I have contacted trading sites on which CS items are traded, and Skinbaron.de provided me with their API (Application Programming Interface). Using that I will extract from their database data about the type of item sold also with the quantity and date of the sell. The data collected by this could be put into a multiple linear regression model, with price as a dependent variable. For independent variables, characteristic of the items will be used (rarity, pattern, stickers applied, float, etc…), but also a dummy variable “release of CS 2”. By using this model, I would be able to analyse the impact of the release of Counter Strike 2 on the prices of CS items.

Outline

Introduction
Literature review and hypotheses
Methodology
Results
Discussion
Conclusion
 
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