There is provided a character training and development system for a virtual environment and related method. A character can be purchased by a user and then registered on a communication network via a unique code. Once registered, a set of attributes can be assigned to the character based on the type and class of the character. Attribute values can be assigned to the attributes by default or by user preferences. The characters can be manipulated within the virtual environment. In particular, the characters can be trained in order to improve their skills, to add new skills, and to increase their overall value and worth in the virtual environment. In addition, the characters can be traded among users for a price based on their skills. Fees can be charged for each trade. Traded characters are given a new code to transfer all control of the character to the new owner.