Core Viewpoint - A recent update in the CS2 game by Valve significantly altered the mechanism for obtaining rare virtual items, leading to a drastic decline in the market value of these items, with over $2 billion evaporating in just two days [1][4]. Group 1: Market Reaction - The update allowed players to combine five red items to create a gold item, drastically reducing the perceived scarcity of gold items, which were previously considered "digital gold" [3][12]. - The market index for CS2 items plummeted from 1663 points to 510 points, a drop of nearly 70% within two days [4]. - High-value items like the Butterfly Knife and Sports Gloves saw daily declines exceeding 50% on major trading platforms [5][8]. Group 2: Player Impact - Many players experienced significant financial losses, with some reporting losses of over $20,000 due to the sudden market shift [10]. - The trading rules imposed a "cooling-off" period for newly acquired items, preventing players from selling them immediately and exacerbating their losses [10]. - Professional traders, known as "guides," who had stockpiled these items faced the most severe impacts, with some losing substantial profits [13]. Group 3: Economic Implications - The incident highlighted the fragile value foundation of virtual items, which are not true assets but rather permissions granted by the platform [15]. - The market's rapid decline indicated that a significant portion of item prices was based on speculative expectations rather than intrinsic value [15]. - Experts suggest that the gaming industry needs to optimize its economic model to prevent such volatility in the future, proposing measures like reducing institutional uncertainty and implementing buffer mechanisms for extreme market conditions [16].