Man Spends $330,000 on Virtual Item

halfeclipse

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Nov 8, 2008
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People sink just as much money on risky investments in real life all the time so hey why not.



Cajt said:
CantFaketheFunk said:
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.
So he gets PED for all transactions made on the station, and that PED can then be made into, say, USD?

Yep. and if things go fright for him he stands decent chance oh walking away with a nice bit of money. Seem to recall reading that the guy who bought the $100k asteroid was pulling in about 1.5 million a year so.
 

Andronicus

Terror Australis
Mar 25, 2009
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danpascooch said:
If I ran that game, I would give one of those palaces to every player, just to ruin the life of that guy who spent over 300k on one.
The entire in-game economy would fall apart like it was made of jelly and bent wires.

Vanguard_Ex said:
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.
Maybe it's because you had zero cents, and this guy happens to be rolling in cash!
BUDUM TSHHHH
Ah-huh, you know I just went there. :)
 

Doug

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Apr 23, 2008
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Daggermonkie said:
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
What I read on Wikipedia is the in game currency (PED's) are bought using real money (US$ 1 == PED 10). You can convertor that either way, so if you have 2000 PED's in your bank, you can exchange it for US$ 200. I'm guessing PEDs aren't recieved any other way that by buying them with US$'s or trading stuff with other players for them (or like this, by levying a tax on an area you own).
 

Doug

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Booze Zombie said:
Well, considering it makes him real money, it's not a bad investment.

Unlike the (gold) Wii.
Indeedie, but comparing anything to the Gold Wii sounds like a good idea, including...

 

Sparecash

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Dec 24, 2008
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There was some documentary I watched a few years back about people who do this thing (though usually not on this scale). Some of these virtual businessman roll-in the dough. One dude became a millionaire by owning a asteroid in a game just like this, it's all pretty crazy stuff.
 

Booze Zombie

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Doug said:
Indeedie, but comparing anything to the Gold Wii sounds like a good idea, including...

I dunno about that, but buying something in a game that makes real money?

I think that's worth investing in... though probably not quite at the same level as this guy, if I'm to be frank.
 

Doug

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Booze Zombie said:
Doug said:
Indeedie, but comparing anything to the Gold Wii sounds like a good idea, including...

I dunno about that, but buying something in a game that makes real money?

I think that's worth investing in... though probably not quite at the same level as this guy, if I'm to be frank.
I know, I was just implying the Gold Wii is a worse investment than the money hole ;)
 

MGlBlaze

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Oct 28, 2009
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TheNamlessGuy said:
That is totally insane, and I'll tell yo-

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]
WHAT?!
The moment I read that line myself, my response changed from "WHAT!? That guy is an IDIOT." to "...this game is a very strange oddity indeed.".

Then I went on to read that players can actually make money off these games by owning things, as well... this game is WEIRD, to say the least, but... it seems to be a more long-term and stable investment than I had first guessed.
 

Altorin

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May 16, 2008
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IckleMissMayhem said:
Man Spends $330,000 on Virtual Item...man is frikking idiot
a virtual item that will give him real money eventually recouping his profit.

I can imagine owning a space station in an MMO, and getting real money stipends for all activities going on in the space station, would be quite lucrative after a while.

It's probably worth 300,000 dollars in the return he'd get.
 

mooncalf

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Jul 3, 2008
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If he makes the money back, then he's wise, if he makes a loss, then he's a fool. History will tell.
 

theironbat46

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Aug 19, 2009
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Really, no one came up with this joke? Fine. It's the circle of stupid! People pay!!!! For fake money!!! To get real!! The circle of stupid!!!
 

feather240

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LTK_70 said:
SomeBritishDude said:
Even if you look at this from a financial stand point, it's still kind of a risky buisness. What if the company or server shuts down? What if a hacker get's into his account? What if he's banned?

Now, looking from the angle of "I spend more money than I would on a house on an item that doesn't exist" and you've got a whole new type of mind fuck.
I think we all have to remember that there is plenty of risk of your money evaporating into nothing in the real world, too. Compare a virtual world with the stock exchange, and this deal suddenly looks like a sensible investment. Asteroids in a game don't physically exist, but stock market shares don't, either. See, if the servers shut down, you can sue. If your account gets broken into or you get banned, you had it coming because of your own stupidity/carelessness.
Great minds think alike. Now I don't have to write that out, thank you. Besides, even if they broke down they're a registered bank. They must have some kind of banking insurance policy.
 

Heart of Darkness

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Jul 1, 2009
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Huh...coming into this article, I thought it was some epic armor or something. To see it actually has the potential to make money...that's pretty cool. A little insane, yes, but cool nonetheless.