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

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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.