MMO Item-Trading Corporation Buys Rival

Posted by simoniker on Thursday January 22, 2004 @11:46AM from the sinister-keiretsu dept.

madgeorge writes "According to a Waterthread post, MMORPG item trading businesses Yantis and IGE are now one and the same. I'm definitely in the wrong business." The specific press release mentions that "Internet Gaming Entertainment, Ltd, the worldwide leader in the market for buying and selling virtual property used in multiplayer online games, announced today that it has agreed to acquire substantially all of the assets of Yantis Enterprises, Inc.", and notes: "With more than 80 employees and thousands of suppliers, IGE is the largest provider in the world of virtual currency exchange and game-enhancement services to players of MMORPGs. The company provides 24x7x365 customer service and tech support from its state of the art operations center in Kowloon Bay, Hong Kong." We've previously discussed IGE and its relation to alleged 'MMORPG sweatshops'.

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Big money by Silicon+Mike · 2004-01-22 12:01 · Score: 5, Insightful

There's big money in this, unfortunatly. There's alot of people who think Yantis is the scum of the earth, but there are quite a few people who have claimed he's bought EQ related web sites for 5 figures, and if you read FOH (one of the better known everquest guild) message boards @ www.fohguild.org, people are claiming he's gotten over 10 million for the company. 10 million for selling virtual property is insane.