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Project Entropia: Land Sold For $26,500USD!
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The official Project Entropia site is reporting that a piece of virtual property known as "treasure island" has just sold for $26,500 USD! More on this amazing story:
| The first virtual island, the Amethera Treasure Island,was auctioned out in Project Entropia. The final bid was 265 000 PED (26 500 USD)! Congratulations to the owner!
More info about the Treasure Island is available here. |
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Comments
One word to describe this:loser
Want to ENJOY an mmo?
Dont start a guild and dont be a leader or volunteer to be coleader or captain.
Just play the damn game:)
thats incredible. Has there been definate proof this transaction took place? lol, i was amazed when people paid $1000 for castles in UO going back a couple years...
1.Its not real land its virtual.
2.An investment?I dont think so.
How is its value determined?It cant be the same standards as brick and mortar real estate.
3.What happens if say in 2 years time Entropia closes its doors.What then?Does he get his money back?
4.I just bought my 3rd real home for 340,000 us dollars.The home 2 doors down from me just sold for 445,000 a month after i moved in.
My house just went up in value by 105,000 dollars.THATS an investment.
Im sorry but i see this as a waste of good money if invested wisely could grow exponentially over the years.The only winners in this are the developers of Entropia lining their pockets with some fools money who they fooled into beleiving this is a good idea.
The thing is he doesnt really own it.The server it is on is owned by the developers.
Next thing ya know well see virtual REMAX agents advertising on mmorg.com.I read the piece on it and it is claimed that some lots are worth over 300k.
Sure they are.If you can get another sucker to buy into it.Yeah 15 year old kids just got cash burning holes in their pockets.
Want to ENJOY an mmo?
Dont start a guild and dont be a leader or volunteer to be coleader or captain.
Just play the damn game:)
It sounds completely stupid, this is true. But the landscape for MMO's has changed. Virtual real estate, virtual money (with dozens of online sellers), virtual items....Worth doenst have to be linked to what we can feel and touch., and then you have people who pay millions for something that i wouldnt pay more than a couple hundred dollars for - antiques and art for example. $40 million for a painting a five year old could possibly come up with...
Its all about perception.
Now if Entropia falls flat on its face, then this cash is lost......i wouldnt say its a wise investment, but after you get beyond the wow factor of it, it doesnt surprise me people pay stupid money for things, people pay exaggerated prices for everything, every day of the week - every item you buy is wayyyy beyond its real worth, and when it comes to "real worth" who am I to judge? Its all about perception of value
I'm sure whoever bought this wasn't looking to make a profit.
It's not all that different from paying a million dollars to get on a flight into space. You get almost nothing out of it other than the experience (except a space flight is real, yeah yeah). The person who bought the island is probably just looking to have fun, and maybe make a little back, which presumably they will.
Also as I posted in the topic in the general forum, the person didn't have to invest $26,500 directly into the game. I'm not sure how PE works but I'm thinking it could have been possible for them to invest let's say $1,000 and then turn that into $26,500 purely by in game means such as trading, hunting, crafting, whatever. Just a theory.
man, that guy mustahve been one rich mother! or he was a crasy idiot to spend that much money to own a virtual island.. but hey, if that was in ultima online id be happy for the guy but for that game... bah just the GMs scamming money off poor people.
this is far more then i expected this thing to go for...
i thougth maybe 10-15k$ max
its definetely a proof that value itself is only a virtual desire...
though i would never have spend this much for it myself ;-)
STERLING&MOSS ASSOCIATES(PE)
STERLING&MOSS ASSOCIATES(PE)
The graphics on Entropia is terrible... reminds me of some archaic polygon games back in the 90s. Anyway, the only pixel you should pay is WoW! lolx
Some people dont understand. The entire games economy is played with REAL cash. Thus owning this land, IS an investmant because he can charge players to hunt/mine there(or so it seems).
However I do beleive he is crazy to spend that much money on a game, but look at it logicaly. owning this land in the game wil return his profits from other players.
Oh i understand its real money.What i have a problem with is real estate that is not real.
How can it have any value when at its core it is nothing more than "code"?Gimme a break already,on the "perception"of it all.The only perception i can see is this guys wallet going empty.
Want to ENJOY an mmo?
Dont start a guild and dont be a leader or volunteer to be coleader or captain.
Just play the damn game:)
Somebody paid that kind of real money for something that's not even real?
This game uses real money?
I just don't know what to say.
EDIT: What happens when this game is considered outdated like it already seems to be and people just don't play anymore? Bye bye 'investments'!
Ok I do know what to say now: Ridiculous. A fool and his money are soon parted huh?
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what the hell kind of crazy-ass shit is this?
somebody throw a single $25 dollar high-power magnet at that HD and bring these ppl back to reality.
Oh yeah, i think someone should take away this guy's money. All of it. Give it to children's miricale network, or somethin.
I would assume that PE itself put out the money to make this a big advertisement for thier company. They just make a few accounts and have a pretend bidding war, then post it as news.
They get all of this free adverising on all of the gaming sites and it will probably make on some TV newscast also.
Pretty smart of them actually
Chances are high that if this person spent that much money on vitural property then he can afford it.
And since you can convert PED into real world dollars and withdraw them from the game, then this would be considered an investment.
I remember when this game came out. I thought it was a crazy idea, but it looks like it's alive and well and doing fine. It's an original concept that a lot of folks seem to like so more power to em. *shrugs*
I don't really understand why people that like to sell ingame property from MMOs that don't condone it like EQ, DAoC, WoW, etc don't migrate to a game like this. I mean it's ideal for what they like to do, and best of all for them the devs fully support it.
just wanted to clear some things out.
1. The game uses real cash which means that u DONT have to sell your ingame money on E-Bay, there is a feature ingame called "withdraw" where you can exchange your ingame money to real money, these will be sent to your bankaccount which your creditcard belongs to.
2. Where do we draw the limit on whats real? is music real? you cant touch it, myself i think its kinda the same deal as investing in highrisk stockmarketing (because its impossible to say what will happen to the company in the future). even a house can be a bad investment..
3. He will probably get back most of the money spent rather fast because of the lots he can sell (and I belive that this will be the portal to the new world for most ppl which means alot of hunting here, a regular playerowned area seem to bring about 1000USD in taxes/year with rather low hunting there.. imagine a area where alot of ppl hunt)
4. I doubt he bought it only to make profit.. he got cash and loves the fun it brings.. some ppl can spend 200.000USD on a car so why not 26.500 on a game?
myself I would chose the car unless i had a shitload of money to spend but I do understand his choice (and remember it was an auction.. so several players was bidding.. opening bid was only 1ped if i remember correct.. so several players made the same choice),
and yes, Im a PE player. played for a year for fun and not for profit.. I have manged to make a 2-3000USD profit from a 150USED investment though.
5. the game isnt really outdated, we have a VU (version upgrade) about 10 times/year, this doesnt mean that we dont have some old annoying bugs and problems though.. like inventory hangups forcing you to relog. The game isnt perfect but its good enough
A few things...
PE is free to download and free to play. You can deposit money into the game via credit card or other means to get ingame credits at a rate of 1:10 (1 USD= 10 PED). You can also withdraw ingame credits to your bank account at a rate of 10:1 (10 PED = 1USD).
These were real honest to goodness people behind the bidding and I will say there were several that were driving the price up that high.
The cash is already in the game, whether the winning bidder made the money ingame or made a deposit I guess only he knows.
As far as an investment? He already has significant interest from fellow players to buy land, hunt and mine on the island (generating taxes) and help in the development of a city. This is going to potentially be a huge boost to the PE economy as well as make this player rich.
Now, that said, I will be the first to admit I would never ever ever pay that amount of cash for anything in the game. However, I do deposit to PE and will continue to play it. I have played it for two years and over that time I have paid less money than I would for a standard MMORPG and had more fun! They are constantly having major Version Updates and the concept is a truely revolutionary idea that I am proud to be a part of.
www.project-entropia.com
http://entropia-pioneers.kicks-ass.org
"Deathifier" has been an active member of PE for many years, mabye you should try PE out and get to see what PE is about. This isn`t Runescape. It has its own ecomony which makes its place in the real world, I have put around 4K USD in 2.7 years, have i withdrew once? No, but its always good to know its there if the need arises to use it. Am I happy with the amount ive put in? the awnser would be yes; every last penny. Just as im sure Deathifier is with his purchase, and either way whatever happens. PE will kick all other MMORPG`s Asses
It has more potential than any other one. Visit our player ran fourms 
www.entropia-pioneers.com
Gratz Deathifier!!!!
Steve of STERLING & MOSS (PE)
dude it is tax free.
if he does not report it to irs.
he does not have to pay taxes.
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First of all let me say that I think it's pretty sick to pay that amount of money. But what I was wondering can you play the game without paying anything but still gain items and stuff? Or do you need to pay to be allowed to hunt and get money?
yes you can, but its hard.. very hard and time consuming.. but.. if you plan to paly it "small".. cheap equipment, chatting around, trading etc it wont take that much time to reach your goal.
Its also what i recomend everyone to do.. play it for free for a month or 2 so you learn the game or you will lose money fast.