Virtual Real Estate Purchased For $100,000

mike1086 wrote to mention a BBC article discussing a $100,000 virtual land purchase in the Project Entropia world. From the article: "The space station is described as a 'monumental project' in the 'treacherous, but mineral rich' Paradise V Asteroid Belt and comes with mining and hunting taxation rights. With the price tag also comes mall shopping booth and market stall owner deeds, a land management system, a billboard marketing system, and space station naming rights. " The official release has further details. You may recall these folks from the expensive island purchase a while back.

Comments

Re:Project Entropia was Released?

[hey!]

I could understand someone purchasing a large amount of land in an incredibly popular game like World of Warcraft for that price, but not in Project Entropia.

Two words: Viral Marketing.

Until somebody interviews the player behind "Neverdie", you don't know that this guy isn't an employee of the company. He buys a piece of virtual for and eye-popping and publicity generating $100,000, and gets a company bonus for oh, say, $100,000 plus enough to cover income taxes for generating publicity.

The value of a property is based on the net present value of its future income stream, discounted by the risk. It'd be a nearly inconceivable vote of confidence in the company hosting this games future stability and ability to create business on a pretty impressive scale -- if it's for real.