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Project Entropia: Gamer Buys Virtual Land For $26K

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Abaddon

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Gamer buys for $26,500 a virtual piece of land in the MMORPG Project Entropia.


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Project Entropia property sells for $26K
Virtual island in Swedish MMORPG goes for $26,500; sale believed to be the largest transaction for any virtual item.

For sale: 6,000-acre, lush tropical island, complete with castle, a mine full of valuable resources, and exotic game to hunt: $26,500 or best offer.

An ad like that would seem like a dream to just about anyone looking to invest in some property, but throw in the word "virtual" and it's a different story. That didn't bother 22-year-old David Storey, an Australian gamer playing the PC game Project Entropia, who bought the island in an auction for cyber assets equivalent to $26,500 real-word cash.

Project Entropia, released in January 2003, is a unique massively multiplayer online role-playing game that incorporates real-world cash in its virtual economy. The game is free to acquire and charges no monthly fee to play. Instead, items in the game are purchased with real money from players' credit cards. The local economy is based on Project Entropia Dollars (PEDs), which are the equivalent of an American dime.

The 265,000 PED island is off the coast of a newly "discovered" continent on the planet Calypso, the game's setting. As sole owner of the land, Storey will have taxation rights over any sport hunting and mining that takes place on the island, as well as property rights to sell to potential buyers looking to build a home.

"I intend to create a thriving, fully functional settlement for all to enjoy," Storey said in a statement released by MindArk, the company behind Project Entropia. "The goal is to make Treasure Island the best it can be to serve the population of Calypso."

Another possible goal for Storey may be to pocket some real loot out of the deal. PEDs can be exchanged for real money in the game via a credit card transfer. The game encourages players to create a real thriving economy by selling items, land, and even services for PEDs. Those with the right entrepreneur skills can even see a profit like Storey hopes to do.

"If you think Project Entropia is going to grow and be a very successful game, this could be a very profitable investment indeed," says Indiana University's Edward Castronova, an expert in the economics of virtual worlds. "It may or may not be a wise investment in the end," he adds, "but it's probably wiser than many junk bond investments."

While this purchase may well rank as the largest amount paid for a virtual item in a game, this isn't the first case of cash being paid for in-game items. Characters and items from Sony's MMORPG Everquest have previously sold for thousands of dollars, and Blizzard has recently threatened to ban players who sell in-game items for real money in its MMORPG, World of Warcraft.

For more information on Project Entropia, check out GameSpot's previous coverage.

By Tim Surette -- GameSpot
POSTED: 12/17/04 05:18 PM PST
Click to expand...


So did this gamer actually make any money from this.. or does he regret it?
 
Abaddon said:
So did this gamer actually make any money from this.. or does he regret it?
Click to expand...

It is a long term project, and I guess he can profit on it long term if conditions are good. Only who know is himself. :D

Btw: 26.500 USD isn't that much money in this game.
If you wanna get best hunting equipment, it could cost you nearly the same.
With this I mean the best FAP (Mod FAP), Full Shadow and some other armor for different occasions with plates. Best weapons both for long, middle and short range with current attachments.

/Kjetil :cool:
 
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Kjetil said:
It is a long term project, and I guess he can profit on it long term if conditions are good. Only who know is himself. :D

/Kjetil :cool:
Click to expand...

Deathifier mentioned a while ago (can't remember exactly where and when) that it's going well, everything is proceeding as planned, so him and his investors are happy :)

And btw, that's old news ;)
 
Wow, this is kind of an old topic.

Try to search the forum a bit before posting ;) There's a link to an interview with Deathifier around here. I'll post the link here if I find it.
 
Yea i know its old..


i dont play this game, just saw a thread on a completely unrelated forum (Divine Divinity RPG anyone?)

I was amazed someone would pay that.. and even more amazed you can say that 26.500 USD isn't that much money in this game. How on earth does your normal scrubby teenager afford to play this game? Or are you all megabux movestars? :dunce:

Basically do you slave away in the game generating cash rather than outright buy with your own real cash?
 
Abaddon said:
I was amazed someone would pay that.. and even more amazed you can say that 26.500 USD isn't that much money in this game. How on earth does your normal scrubby teenager afford to play this game? Or are you all megabux movestars? :dunce:

Basically do you slave away in the game generating cash rather than outright buy with your own real cash?
Click to expand...

To most players it's a big chunk of money, but you can easely spend it on equipment if you realy want to. Most players deposits a bit each month, and it adds up. Others have been luck and earned a bit ingame. Yet others are long term players witch gotten the gear when it was much less expensive. We got all kinds in PE ;)
 
Abaddon said:
Yea i know its old..


i dont play this game, just saw a thread on a completely unrelated forum (Divine Divinity RPG anyone?)

I was amazed someone would pay that.. and even more amazed you can say that 26.500 USD isn't that much money in this game. How on earth does your normal scrubby teenager afford to play this game? Or are you all megabux movestars? :dunce:

Basically do you slave away in the game generating cash rather than outright buy with your own real cash?
Click to expand...

It's a damn good question :)

Myself, I use more money ingame than irl, especially on cloths. I deposit between 10-100 dollars a month, but compared to what other games would give me for a monthly fee, I'm very happy with this. And as soon as I get bored (hope it never happens) I can just sell all I got and cash out.
 
Abaddon said:
Yea i know its old..


i dont play this game, just saw a thread on a completely unrelated forum (Divine Divinity RPG anyone?)

I was amazed someone would pay that.. and even more amazed you can say that 26.500 USD isn't that much money in this game. How on earth does your normal scrubby teenager afford to play this game? Or are you all megabux movestars? :dunce:

Basically do you slave away in the game generating cash rather than outright buy with your own real cash?
Click to expand...


We deposit 90% of our salary into the game, a few of us sold our cars so that we could get Full Shadow armor - Had to let the wife go since she thought I was spending to much time on this game, but wtf, she didn't bring home good enough loots anyway.

This is not a regular game, this is a virtual univers. If this had just been a regular game, do you think I would have given up my job to have more time for PE ?

BTW: scrubby teenagers normaly don't last long on calypso ;)
 
Euroman said:
We deposit 90% of our salary into the game, a few of us sold our cars so that we could get Full Shadow armor - Had to let the wife go since she thought I was spending to much time on this game, but wtf, she didn't bring home good enough loots anyway.

This is not a regular game, this is a virtual univers. If this had just been a regular game, do you think I would have given up my job to have more time for PE ?

BTW: scrubby teenagers normaly don't last long on calypso ;)
Click to expand...

:rofl: :rofl: :rofl: OMG I can't stop laughing. Guess I will get fired soon. According to the last post that would be a good thing, so I can spend more time in PE.

Reps comming up soon. Have to spread it around first ;)
 
DarkAngel said:
:rofl: :rofl: :rofl: OMG I can't stop laughing. Guess I will get fired soon. According to the last post that would be a good thing, so I can spend more time in PE.

Reps comming up soon. Have to spread it around first ;)
Click to expand...


Some ISP here in Denmark had this commercial with how to get rid of all those time consuming things IE: Wife, Job, Friends etc. so that one could spend more time on the Internet...

Think I'll have to make a post with these advices... Hmmm yeah, feal a post coming up :D
 
Abaddon said:
Yea i know its old..


i dont play this game, just saw a thread on a completely unrelated forum (Divine Divinity RPG anyone?)

I was amazed someone would pay that.. and even more amazed you can say that 26.500 USD isn't that much money in this game. How on earth does your normal scrubby teenager afford to play this game? Or are you all megabux movestars? :dunce:

Basically do you slave away in the game generating cash rather than outright buy with your own real cash?
Click to expand...

You should create an account in the game and try it out. ;)

About 26.500 USD isn't that much money in this game, I refere to game in total. Not only 1 player. Average player operate with around 200-300 USD in total within 1-2 years, I think.

About age, I think average player is something between 22-30 years old.
This game require a lot of patience.
Teenagers without patience usually leave fast, sometimes with whining in various forums. :D

Why is it so strange to play with some thousands of USD in PE when various ppl play with millions of USD in online poker games?

/Kjetil :cool:
 
AHHH! wooh! i throught something was going a lil crazy otherwise!

the curious little sprite inside of me has demanded i pressed the download button... :tongue2:

downloading at 124 kbytes/sec..... 1hr 40 mins to go :(

DANG. guess il get reading up on this "lifestyle" (its blatantly not a game)
 
I calculated that quitting smoking and drinking less will get me one shadow part every month.

As for the imp mod pack, anybody in the market for kidneys? I think I don't need both of them... Also offering: one lung, some smoke damage. One liver, slightly expanded. One brain, not used much.
 
Abaddon said:
AHHH! wooh! i throught something was going a lil crazy otherwise!

the curious little sprite inside of me has demanded i pressed the download button... :tongue2:

downloading at 124 kbytes/sec..... 1hr 40 mins to go :(

DANG. guess il get reading up on this "lifestyle" (its blatantly not a game)
Click to expand...

Welcome to PE!

/Kjetil :cool:
 
ViagraFalls said:
I calculated that quitting smoking and drinking less will get me one shadow part every month.

As for the imp mod pack, anybody in the market for kidneys? I think I don't need both of them... Also offering: one lung, some smoke damage. One liver, slightly expanded. One brain, not used much.
Click to expand...


If I take it all, can I get it at resale prices then ? :D

Wonder how much your brain would go for, TT + 5 ped ? :laugh:
 
Hi :)

Abaddon said:
Gamer buys for $26,500 a virtual piece of land in the MMORPG Project Entropia.

So did this gamer actually make any money from this.. or does he regret it?
Click to expand...

It is proceeding roughly according to plan and I'm quite happy with how things have turned out.

It is not raking in buckets of cash (well, not yet :D) however nor is it losing money as tax income exceeds money spent on land area manipulation on a daily basis.
Past tax income has built up a healthy reserve to finance further upgrades - one of which was carried out today.

I certainly don't regret the purchase as it's great fun and an incredible experience with strong support from both MindArk and the community :)

Check out the website if you haven't already, and feel free to post any other questions you may have.

- Deathifier
 
I have had a look.. your a phD student.. so where on earth did the cash come from to buy it? Im a student my self.. and i can hardly see my bank agreeing to a loan for the purpose of buying something they cant find on a normal map!
 
Euroman said:
If I take it all, can I get it at resale prices then ? :D

Wonder how much your brain would go for, TT + 5 ped ? :laugh:
Click to expand...

Last time I checked, they charged me 50 PED...
 
Abaddon said:
I have had a look.. your a phD student.. so where on earth did the cash come from to buy it? Im a student my self.. and i can hardly see my bank agreeing to a loan for the purpose of buying something they cant find on a normal map!
Click to expand...

Easily answered :)

In Brief:
I wrote up a plan, took it to some investors I know, had a chat with them, revised the plan, took it back, they approved it, money was deposited, auction was won and 6 months later here we are :)

Life is sometimes very much about who you know.
- Deathifier
 
Abaddon said:
Yea i know its old..


i dont play this game, just saw a thread on a completely unrelated forum (Divine Divinity RPG anyone?)

I was amazed someone would pay that.. and even more amazed you can say that 26.500 USD isn't that much money in this game. How on earth does your normal scrubby teenager afford to play this game? Or are you all megabux movestars? :dunce:

Basically do you slave away in the game generating cash rather than outright buy with your own real cash?
Click to expand...


well, im one of the very few teenagers that stays around here. im only 15 years old, and started playing 15 oktober 2004. since then, i have not gained as much experience or equipment as the adult folks who can deposit load of money, but i have deposited enough to get me some basic weaponry for hte mid class player.
i spend on this lifestyle around 45 % a month, and im ok with it :)
yes, its money i earn with hardwork IRL and many people say im crazy to spend on this. but i say: its my money, i like the game, i spend my money on what i want.
and atleast here you have a chance of earning money back.
i have met many teenagers of my age, who all (or most of them) quit after a few months or less gameplay. that is becouse they expect free money. well, i said to all of them: to gain money: invest. and an investment that will have to last a few years or more. unless you are very lucky.
 
Abaddon said:
well best of luck!
Click to expand...

thx to u too, if u land on calypso :kos:
 
Like Pretender, I'm one of the teenagers who stays for a long time. I'm 15 years old and played since August 2003. I didn't deposit for the first 21 months, but still had a blast... the new 'generation' seems to be way less patient though, and expect the money to come flying their way, without them having to do anything to acquire it :)...

Welcome, I'm sure if you have the patience it takes, you'll be in for a real treat, and hopefully stay here for years
 
Abaddon said:
I can only hope.. 25mins left for download.. canny wait!
Click to expand...


if you dont want to sweat, and get a start ahead, then, once your account is aproved, check if any entropiaforummembers are in PA, talk to them, they will mostly explain PE to you. also reda everything in the aboutsection on MA site, and the sticky threads on this forum. would give you a bit of understanding to the value of goods etc
 
Deathifier said:
Easily answered :)

In Brief:
I wrote up a plan, took it to some investors I know, had a chat with them, revised the plan, took it back, they approved it, money was deposited, auction was won and 6 months later here we are :)

Life is sometimes very much about who you know.
- Deathifier
Click to expand...
You got a bank to agree on buying a virtual island? How many investors? Other PE players? Have you divided the island between each other?
I ask alot couse that sounds as stiff n cryptic as the ma supportreplies i get. :tongue2:
 
Devilmaster said:
You got a bank to agree on buying a virtual island? How many investors? Other PE players? Have you divided the island between each other?
I ask alot couse that sounds as stiff n cryptic as the ma supportreplies i get. :tongue2:
Click to expand...

Most of those details are confidential, hence the very brief answer ;)

No other PE players though. The investors don't play and neither soc nor other friends have a share in it. It's 100% owned by me ingame and I run daily operations.

- Deathifier
 
Deathifier said:
Most of those details are confidential, hence the very brief answer ;)

No other PE players though. The investors don't play and neither soc nor other friends have a share in it. It's 100% owned by me ingame and I run daily operations.

- Deathifier
Click to expand...

Double-O Deathifier can be seen creeping around TI in a black tux watching over his herd ;)
 
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