Day One of New PLEX

With yesterday’s YC119.5 update the previously announced change over for PLEX showed up, so I had to log in and see the change.  We now have new PLEX.

New PLEX in-game Description

Foolishly I forgot to note how much Arurum I had on my main, I was carrying a balance of over 1,000, but I couldn’t recall exactly how much.  But I had 195 PLEX listed for him when I opened up the New Eden Store, so it was likely somewhere around 1,365.

Then I checked my alt.  He had the usual 300 Aurum, so did not get that converted.  However, I am not sure what became of it either or if I will ever see it again.  He did have two old PLEX sitting the station at Jita 4-4.  Those did get converted to 1,000 new PLEX, which was sitting in the station where the old PLEX had been.  He wasn’t in Jita, but I found the new PLEX using the search option in Assets.

Right-clicking on it in Assets listed the option to move it to the new PLEX Vault.  I had to actually read the description of PLEX (above) to be reminded where the PLEX Vault was.  I started by looking for yet another button on the Neocom, but it is actually part of your inventory listing.

It says PLEX Vault…

However, the option to move PLEX to the PLEX Vault does not appear to work remotely.  I tried the option a few times, but nothing changed.  It is bad design to give the user an option and provide no feedback, and I saw no errors while trying to do this.  Still, I figured out that I needed to be in the same station and clone jumped to Jita.  From there I was able to move the 1,000 PLEX to the PLEX Vault.

In the PLEX Vault

The PLEX vault is very much oriented towards selling PLEX to players naturally enough.  PLEX operations are in three small boxes, but buying PLEX covers four larger boxes with bright piles of PLEX shown, as if it were a physical thing, which can be expanded into even more PLEX purchasing options.

We have PLEX in the quantities you want…

The nature of the beast when you have a cash shop, as we have seen in every other MMORPG that has gone that route.  As more money comes from it, the more important it becomes.

And somebody out there is probably buying PLEX in $500 increments, but it sure isn’t me.  That would be about 40 billion ISK at the current market price, less transaction fees, or 900 days of game time.

And speaking of market price, while there were opportunities to make some easy ISK early after the PLEX transition (as SynCaine did), by the time I logged in later in the day the markets seemed to have settled down.  As I noted yesterday, PLEX was about 1.3 billion ISK per before the transition, so I estimated that it would settle around 2.6 million per for the new PLEX out of habit if nothing else.

In Jita you could grab a PLEX for a little less than that.

May 9, 2017 PLEX prices in Jita

In Amarr the price was a little higher, but not dramatically so.

May 9, 2017 PLEX prices in Amarr

So the new PLEX era is upon us.  We shall see how the price goes from here now that it is the universal RMT currency.  Prices in the New Eden Store have been adjusted for PLEX.  SKINs, which is all I ever buy from there, seem to run from about 40 PLEX for a frigate SKIN to 200 PLEX for a capital version.

Now to figure out where that 300 Aurum ended up and if I will ever get the ~42 new PLEX it ought to yield.

Others writing about PLEX:

10 thoughts on “Day One of New PLEX

  1. anypo8

    About that 300 Aurum… You won’t.

    CCP’s current official plan is to convert it all in three months “to avoid disrupting the market during the conversion”. This makes little sense to me. It seems pretty clear that the market has stabilized now, and dumping the aurum-PLEX onto the market today would be just as good as dumping it in three months.

    As you say, 300 Aurum is roughly 40 new PLEX. Assume that 100K accounts will actually spend their residual new PLEX the instant it is converted for them, which I think is a gross overestimate. That’s 4M new PLEX, worth about 2.5M ISK each, for a grand total of 8T new PLEX. Sounds like a lot of PLEX, but an estimate I dug up puts the total EvE economy at 600T ISK. Trade value in Jita in Sept 2015 was 270T ISK. So this isn’t much PLEX, and isn’t likely to disrupt the economy at all.

    Why, then is CCP determined to delay the conversion? I don’t know. Perhaps it is because they are trying to sell the company, and want to keep that money off the books while they do. Perhaps it is because they don’t have a professional economist anymore and are bad at math. Perhaps they are hoping players will forget about this issue in three months and they can wipe that aurum and increase cash shop sales. In any of these cases, I can’t see why they won’t just delay again in three months, and if called out keep doing it until everyone just gives up.

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  2. Wilhelm Arcturus Post author

    @anypo8 – I knew about the whole “delayed” aspect of this. I even predicted that CCP would cave on their initial stance, when they said they were just going to disappear anything under 1,000. I was a little surprised however to find that I could not find any evidence of my 300 Aurum. Maybe there is a token for it in my inventory somewhere. I’ll have to look harder. I only realized I didn’t see it anywhere after I had logged off for the evening. But I will be disappointed with CCP if they try to screw people out of their little bit of new PLEX.

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  3. yadot

    My dilemma was similar, I should have paid more attention to my Aurum however, both my accounts had more than 1000 AUR and as such I received the full conversion to new Plex at 7 to 1. No small sums left over. I would have liked a transaction note covering the conversion that let me know what was converted.

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  4. Wilhelm Arcturus Post author

    @Guess – Don’t be so dramatic, PLEX is both a floor wax AND a dessert topping. Or, rather, both a Media Player and a Virtual Currency… oh, and also a Programming Language… and a few other things.

    Plex the media player and PLEX the virtual currency are both about the same age too. The programming language is from the 70s though, so if anybody wants to play “I was here first” the programming language wins by 30 years at least.

    I have written a dozen or so posts with PLEX in the title since 2009 and never had anybody confused. I am going to guess “New PLEX” triggered Google somehow. Lots of search engine traffic around that today.

    Trivia: I drive by the offices of Plex, Inc., the makers of the media server, on my way to work.

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  5. Serenol Marwysgar

    I think you’ll see that 300. They said they’d convert balances under 1000 after a delay to avoid flooding the market. The issue was their 300 AUR giveaway some months ago now being essentially free PLEX.

    My bet is it will be converted given how outraged players were at their initial position that “only balances over 1000 will convert, if you’re under that, you’re SOL.” It’ll just be some time.

    Love the blog BTW.

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  6. Marchosias

    Dunno, I never had any PLEX and I may have had some AUR from a giveaway, and after the New Plex went into effect, all of my accounts suddenly had 875 PLEX – unless that’s yet another giveaway to rope players into the store? (didn’t read release notes, so everyone might have that little stipend?)

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  7. Marchosias

    All of my accounts, I have 3 accounts. All over 10 years old, so I may have had more AUR than the 300, but all three accounts had exactly the same, new 875 PLEX. I was pleasantly surprised :D

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