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View Full Version : virtual property - a new real estate bubble



Black-Jack
11-15-2010, 09:25 PM
can any one say these folks dont need to get a real life?

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Think the rent is, in fact, too damn high? Then stay as far away from online world Entropia Universe as possible, because its real estate prices will drive you insane.
Take, for instance, what just went down on Planet Calypso, where one of Entropia's wealthier players has sold off his interests in a "resort asteroid" for an eye-popping $635,000. (http://www.prnewswire.com/news-releases/planet-calypso-player-sells-virtual-resort-for-63500000-usd-107426428.html)
The seller is Jon Jacobs, also known as the character 'Neverdie'. He originally purchased the asteroid in 2005 -- eventually converting it into the extravagant resort 'Club Neverdie' -- for the then-record price of $100,000. For those keeping score, that's a gain of over $500,000 in just five years. In nerdier terms, that's an ROI of 535%. Match that, Citibank.

And we're not talking about Monopoly money here. Launched by Swedish developer MindArk in 2003, Entropia Universe features a real-world, fixed-rate currency exchange that works just like chips at a casino: players trade real cash for in-game funds called PEDs (Project Entropia Dollars), which can at any point be redeemed back for real, spendable cash -- minus a transaction fee, of course.
Jacobs was making money from the get-go, however, having earned back his initial hundred-grand investment in just eight months. How? By selling rights to hunt and mine on the asteroid, as well as selling off bits of real estate. He worked it much like any real world landlord, really, but with a lot less red tape and a lot more graphics.
Entropia's users have made headlines before. Just last year, fellow Entropia player Buzz "Erik" Lightyear purchased an in-game space station for $330,000, making it the most expensive virtual item in the world.
Though its exorbitant real estate transactions have earned it headlines, Entropia is otherwise similiar in form and function to massively-multiplayer games like World of Warcraft. Set in a sci-fi future, the game casts players as colonists who must fight creatures, collect and trade precious materials, and explore planets. Currently, Entropia is experiencing a 'Harbinger Event' whose outcome will be dictated entirely by its players.


more ..........

http://blog.games.yahoo.com/blog/160-gamer-makes-a-cool-half-million-by-selling-virtual-property

Glen Longino
11-15-2010, 09:32 PM
Move along folks...nothing to see here!
Black-Jack is having another Anti-Humanitarian attack.

gibetheridge
11-15-2010, 09:33 PM
Sounds pretty real to me, and nice to earn a living without hurting his back.

Black-Jack
11-15-2010, 09:43 PM
the money is real. what you are buying is nothing more than a conglomeration of electrons in someones server. and a bunch of folks who apparently do not have a clue as to what a honest to nature life really is - I pity them


those electrons may very well disappear into the ether during the next electric bumble or virus. for the seller with money in the pocket who cares - for the fools that bought into his snake oil ...................

I'd rather put my money on something you can lay a boot on.

to each his own. Ill always be ale to live off the real estate I have bought even If I can not sell it for a profit. not so for these poor kooks

Glen Longino
11-15-2010, 11:51 PM
Money is Not Real, Jack!
You are delusional!:D

Black-Jack
11-16-2010, 07:31 AM
a little bird told me that GW was the smartest person ever to come out of texas. :rolleyes:

and I believe em.

Tom Montgomery
11-16-2010, 08:51 AM
Throwing yer money away on this is equivalent to throwing away yer money gambling.

People are willing to spend lots of money on entertainment. This is nothing fundamentally new... just a new form.

Tom Montgomery
11-16-2010, 08:59 AM
a little bird told me that GW was the smartest person ever to come out of texas. :rolleyes:

and I believe em.

Well of course you do!

http://www.mordantorange.com/mo/comics/2009-08-06-birdie.gif

oznabrag
11-16-2010, 11:40 AM
I hope it catches fire!

Landrith
11-16-2010, 08:47 PM
I got approached by a forumite about investing in a competing establishment to the Bilge Pub. I couldn't afford the minimum partnership contribution so I had to pass. I hope someone opens a Bilge Subway though. I hear they are a reasonably priced franchise. (Just kidding)

JimJ
11-17-2010, 03:44 AM
A sucker born every day.