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Before the GameStop Short, I Had the Neopets Stock Exchange
What a virtual pet site taught me about the power of investing communities
When I was about eight years old, I asked my mom to make me an email address so I could sign up for Neopets, an online site launched in 1999 where users own virtual pets they can dress up, feed, and customize. The world of Neopets is expansive and mirrors real life in many ways: There are historical events (yikes), a newspaper (cool), and capitalism (boo!). Once I successfully secured an email address, I went over to my neighbor Veronica’s house to get situated on Neopets. As I was about to input my age, she chimed in: “Stop! Make a fake birthday!” Then she added, “That way you can have full access to the site.”
What did “full access” entail exactly, I wasn’t so sure. I went ahead and said I was 18. Turns out, full access in 2005–2006 meant guilds (clubs or groups users can join), more messaging capabilities, gambling, and the Neopets stock market, also called the Neodaq Index. The Neodaq was pretty simple: Users could buy or sell stocks with Neopoints, the in-game currency. With a stroke of your mouse, you could invest in up to 43 different companies such as the “Confederation of Fish Lovers” and “Kacheek and Sons Landscaping,” as long as the stock was at 15 Neopoints or higher. Stock prices…
