Is selling virtual items in an electronic game for real money permissible (halal)?

The fundamental principle concerning games is their permissibility, unless they are forbidden by Islamic law, or are associated with something unlawful, or lead to the neglect of an obligation. If a game is a competition for money between two parties, it is gambling. However, if it is not a competition, and money is taken as a form of exchange, then that is consuming wealth unjustly. But if the money is given as a gift or a present, then there is no objection.