›

Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

Sign In Register

Quick Links

Entropia Universe: Virtual Banking Licenses Up for Auction

GFullsGFulls Member Posts: 478
in News & Features Discussion

Entropia Universe Offers Virtual Entrepreneurs the Opportunity to Become Real Bankers in Cyberspace.

MindArk PE AB, creators of Entropia Universe -- the original virtual universe with a real cash economy, today announced the auction of five virtual banking licenses which will integrate real world banking systems into the virtual world. These two-year exclusive licenses will be available through the public auction within Entropia Universe and will be open for bids beginning mid January 2007.

Entropia Universe is the only virtual universe on the internet whose currency has a fixed exchange rate with the US Dollar. Its currency can easily be moved between Entropia Universe and the real world using an ATM card. The Entropia ATM card can be used to instantly withdraw real cash from over 1 million ATM machines worldwide.

Giving the slogan 'more than a game' a whole new meaning, the virtual Entropia Universe banks will work in much the same way as real world banks, being initially provided with secure systems enabling them to:

Lend money to Entropia Universe citizens and collect interest for this
service

Partake in the design and naming of their own virtual bank building(s)

Utilize the extensive advertising opportunities available within the
Entropia Universe

Make their own personnel available through avatars that can interact
with and provide service to other avatars

With over 500,000 registered accounts and a 2005 turnover of over 160 million dollars, MindArk PE AB's CEO Jan Welter Timkrans describes how: "The prospect of this entirely novel aspect of banking has generated considerable interest amongst many of the top brand names in banking. We are very excited to see the value of the world's first virtual banking license, and equally interested in soon finding out which banks, companies or private persons with the gift of foresight, we will have the pleasure of cooperating with in the exciting years to come."

Read more here.

Comments

  • firstbluefirstblue Member Posts: 7

    I am really looking forward to hear more about the details of the banks. The two main things are:

    • How will they work? How do you force an avatar to pay back the loan.
    • Which companies will run the banks? Big traditional companies, smaller creative companies, players.

    Interesting, interesting...

  • ReklawReklaw Member UncommonPosts: 6,495
    Originally posted by firstblue


    I am really looking forward to hear more about the details of the banks. The two main things are:

    How will they work? How do you force an avatar to pay back the loan.
    Which companies will run the banks? Big traditional companies, smaller creative companies, players.

    Interesting, interesting...

    I read this about Second Life wich is a kinda similar virtual world and doing similar things.

    In December Dutch banking group ABN Amro set up a virtual financial advice centre in Second Life, another Internet-based role playing game that has a real economy.

    The virtual ABN Amro branch resembles the bank's real-life outlets and offers online citizens financial advice.

    http://www.finextra.com/fullstory.asp?id=16346

     

  • wormhillwormhill Member Posts: 1
    Mind Ark didn't implement an item lend/loan system to the game because it was too risky (item lending is very much wanted by players) and they couldn't solve (or didn't want to) the security issuses. And now they are selling banking licenses



    Next we will see worlds first virtual bank robber

  • h.armonyh.armony Member Posts: 4
    Originally posted by wormhill

    Mind Ark didn't implement an item lend/loan system to the game because it was too risky (item lending is very much wanted by players) and they couldn't solve (or didn't want to) the security issuses. And now they are selling banking licenses



    Next we will see worlds first virtual bank robber
    Ohh a new profession!
  • firstbluefirstblue Member Posts: 7

    The difference is that ABM is only giving advice, where as in Entropia there will be some form of actual banking. ABMs advice is for the real world, where as the banking license in Entropia is for the virtual world.

    But it is cool that ABM has precense in Second Life.

  • DobbinDobbin Member Posts: 35

     Actually little to nothing is known or been released by MA about this. Most of the playerbase believe this just to be PR Hype and little solid is known about it. I suggest reading their own forum for views etc....... before reading i suggest donning a flame retardent suit.

    Also check the poll results from their own playerbase ........ Priceless lol

    http://www.entropiaforum.com/forums/showthread.php?t=51038

  • MakindaMakinda Member Posts: 10

    Nother fail from Ma these sit nearly dormant now

Sign In or Register to comment.