Man Spends $330,000 on Virtual Item

John Funk

U.N. Owen Was Him?
Dec 20, 2005
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Man Spends $330,000 on Virtual Item



The world record for "most expensive virtual item sold" has been raised, as a man has purchased real estate in Entropia Universe for a staggering $330,000 in real-world money.

Despite not being a household name like World of Warcraft or Second Life, Entropia Universe is one of the most interesting virtual worlds out there simply because it fully embraces the concept of RMT - that is, real-money transactions: Paying real cash for virtual stuff. The in-game currency, or PED, has an exchange rate of 10:1 with the USD, and the game actually has a license from the Swedish government to act as a real bank [http://www.escapistmagazine.com/news/view/90348-MMO-Granted-Real-World-Banking-License].

In 2006, Entropia personality "Club Xanadu" [http://en.wikipedia.org/wiki/Jon_Jacobs_(online_personality)], and would go on to be a real-life businessman in a virtual space to recoup his money.

Now, an Entropia player named Buzz "Erik" Lightyear (or should that be Erik "Buzz Lightyear" Insertlastname?) has shattered Jacobs' record, winning an auction for the prized Crystal Palace Space Station for $330,000 [http://www.onlinemassivelymultiplayer.com/mmo-news/entropia-universe-crystal-palace-space-station-in-planet-calypso-sells-for-330000/] - that's more money than a lot of real houses would go for. It isn't quite a dumb buy, though - Lightyear will receive a cut of the profits of all transactions that occur on the station, as well as income from players who decide to hunt rare creatures in the station's proving grounds.

It's pricey, and seems kind of silly, but hey - it's certainly a better investment than one of those gold Wiis [http://www.escapistmagazine.com/news/view/96940-Gold-Wii-Makes-Gold-PS3s-Seem-Inexpensive].

(Via Slashdot [http://games.slashdot.org/submission/1141778/Virtual-space-station-sold-for-330-000-US-])

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Souplex

Souplex Killsplosion Awesomegasm
Jul 29, 2008
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This is why you should need a license to handle more than $5000 at a time.
 

timax

New member
Oct 1, 2009
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Who knows how long it will take him to turn a profit, if he does, good for him.
 

Daggermonkie

New member
Sep 15, 2009
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ummm.wait let me grasp this awsome consept....you pay real money for fake money...and get fake stufff....to get real money?or more fake money?i dont get online timeshares/buisnesses/waste of my money/time
 

Internet Kraken

Animalia Mollusca Cephalopada
Mar 18, 2009
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Well considering he gets a percentage of all the profit generated inside the palace it wasn't necessarily stupid. I don't know much about the game, but he may end up generating more money than he spent. Though it certainly is a risky business move, as his entire fortune depends on the game.
 

Nimbus

Token Irish Guy
Oct 22, 2008
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If this guys ever turns a profit, we will be one step closer to the matrix.
 

w1n5t0n

New member
Jul 29, 2009
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I think for me having to pay real money for a virtual item in a game would ruin it, not monthly subscription fees but paying money for in game items sounds dumb, i dont know how this game works but there was a thing on EVE online a while back where some people stole virtual things from other people worth like 17 thousand in real money, it would be hilarious if some nerds with insanely high level characters took over the place he bought
 

Kuchinawa212

New member
Apr 23, 2009
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well if pixels on a screen make him happy. Then what am I to say?

other then he's a little silly.
 

Jared

The British Paladin
Jul 14, 2009
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IckleMissMayhem said:
Man Spends $330,000 on Virtual Item...man is frikking idiot
I think he needs to get his head examined.

I would be very comftable with that money!
 

Vanguard_Ex

New member
Mar 19, 2008
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I played Entropia Universe for a very short while...word of advice to beginners:
Don't fucking play it. Delete it and find something else.
It's confusing as hell and makes zero sense.
 

wooty

Vi Britannia
Aug 1, 2009
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Now thats real estate to the next level, I wonder if he has any friends at all?
 

dmase

New member
Mar 12, 2009
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I think i would just buy an in game intergalactic missle... or something. Then threaten each of these areas for 1 trillion dollars. hahaha
 

Crimsane

New member
Apr 11, 2009
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It won't ever happen with people paying hundreds of thousands of dollars on their game, but I'd be incredibly amused if the game's studio suddenly shut down (freak tornado or something equally destructive go!), leaving this guy empty-handed.
 

Wintermoot

New member
Aug 20, 2009
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that is allot of money for that cost he might as well bought a part of a real comapny ( I forogot the name but I think it was stock)