If you don't know what Minecraft is, you have been living under a rock, but I have had sympathy on you and the video above gives a great overview.
My husband has been playing Minecraft for a long time. He sucked me into the game and then shortly after we introduced our children. It started with them just watching us play. Then we set up the X-Box for the sole reason of playing Minecraft. Originally I was happy about them playing because of the building, engineering, real life smelting and creating. I figured there was a lot to learn through Minecraft.
In the beginning we would hear screams and cries as a child inevitably wasn't able to build a house before nightfall and the zombies came out to attack. Then the child would dig deep into the earth . . . without a torch, get turned around not know how to get back to the surface. A lot of those worlds just got abandoned.
But they learned. They learned about peaceful mode, and creative mode. They worked together. They built houses and roads and shops. They bargained with each other "Can I put a bed in your house? Its too far to walk to my house?" And they would yell and scream and argue over who had the bigger bedroom. They protected each other from the monsters and zombies. They worked together as they mined. They bartered scarce resources. They also went through the blowing-up-everything-stage.
But recently I realized that they have created a civilization, from nothing. Each child has built a house and a shop. They are making things in the shop and selling them to the other siblings. They have built a society based on capitalism. They did this without an example of what to do (quite frankly, I use Minecraft-time for my own personal quiet time).
With their only resources being Minecraft, 4 controllers, 4 children of various ages they have replicated what civilizations have done since the beginning of time. They haven't had any instruction on society, civilization, or economics. But no matter. They still created a society completely of their own volition. Its quite impressive.