Player Pays $330k (US) for Space Station in Project Entropia Universe

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Discussion Overview

The discussion centers around the financial implications of purchasing virtual real estate within the Project Entropia Universe, particularly the sale of a space station for $330,000. Participants explore the risks and potential profitability associated with virtual property investments, comparing them to real-world real estate markets and other virtual environments.

Discussion Character

  • Debate/contested
  • Exploratory
  • Technical explanation

Main Points Raised

  • Some participants express concern about the sustainability of virtual property investments, noting the potential for competition from other virtual worlds, such as Second Life and hypothetical future platforms.
  • One participant references a previous case where a player purchased an island in World of Warcraft for $26,000, suggesting it generated revenue through taxation and virtual real estate sales.
  • Another participant highlights the growing market for virtual goods, citing estimates that the U.S. market could reach $1.6 billion, with a global market potentially as high as $10 billion.
  • Some argue that while there may not be long-term investment security in virtual real estate, the potential for significant profits exists.

Areas of Agreement / Disagreement

Participants do not reach a consensus on the viability of investing in virtual real estate. There are competing views regarding the risks and potential rewards, with some expressing skepticism and others highlighting the profitability of such investments.

Contextual Notes

Participants discuss the implications of market competition and the evolving nature of virtual worlds, but do not resolve the uncertainties regarding the long-term value of virtual properties or the impact of emerging platforms.

Greg Bernhardt
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So this post is sort of old news, but I wanted to point it out because there is a serious amount of money changing hands. *Dean Takahashi at GamesBeat reports that an entire space station in Planet Calypso of the Project Entropia Universe. *This is a big deal for several reasons. First, it’s a lot of [...]http://stats.wordpress.com/b.gif?host=virtualnavigator.wordpress.com&blog=11498882&post=12&subd=virtualnavigator&ref=&feed=1

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This seems like a massive risk because of game competition. Second Life is not like Hong Kong or NYC where there is literally no land left to develop which creates the high prices. Virtual worlds can be a dime a dozen. What happens when Second Life becomes out dated. What happens to that property when "Third Life" enters the arena. Virtual property is a virtual waste.
 
That guy that bought an island for $26,000 in World of Warcraft couple of years ago said that it already paid for itself.
 
what said:
That guy that bought an island for $26,000 in World of Warcraft couple of years ago said that it already paid for itself.

How did he generate revenue with it?
 
By taxing other people that come to your island and selling virtual real estate.

http://videogames.yahoo.com/events/plugged-in/the-world-s-most-expensive-island-online/1389891

While Storey's example is extreme, buying and selling virtual goods in videogames and virtual worlds is becoming mainstream. The virtual goods market in the U.S. is estimated to reach $1.6 billion this year, up from $1 billion in 2009, according to research firm Inside Networks. And the U.S. is just a part of the worldwide market, which some experts put as high as $10 billion; countries like China and Korea are major players.
 
There is a lot of money flooding into virtual worlds. Sure, there is no such thing as a long term investment in real estate, but that does not stop the possibility for HUGE profits.
 

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