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Line Blurs Between Virtual and Real Money

by Erin on May 8th, 2006

Wow, if developers have issues with real money trading (RMT), which allows MMO players to purchase gold, weapons, armor and other things for real world cash, they should take a look at Project Entropia Dollars (PEDs) as a way to weasel in on the fun. One of the major complaints seems to be that third party companies are making millions off the sweating back of the poor developers, who put a lot of time and effort into creating an environment demanding concentration and devotion from its players.

Project Entropia has taken a cue from these entrepreneurs and gone one step further…actually integrating real money exchanges into the game. A cash card allows players, much like with any currency exchange, to trade in real money for PEDs, and more interestingly, PEDs into real money. At an rate of 10 PEDs/US dollar, you’ll need a lot of in game credits to get rich quick but some, like Jon Jacobs, who spent an astounding $100 000 of real money to buy an in-game resort, don’t seem to mind.

Apparently you don’t need PEDs to hop into Project Entropia, but if you plan on having any sort of fun, fundage is necessary. Earn them by scooping up land, buildings, and goods; spend it at the casino or buying a house. For those with a great deal of patience, the game can actually become quite lucrative, as an estimated $165 million rolled through the virtual world in 2005. Want a success story? Try this:

For many people, games like Entropia have become a real source of income.

In December 2004, another character called Deathifier, bought a virtual treasure island for $26,500 (£13,700).

The real person behind the character, an Australian gamer called David Storey, recouped his money within a year by selling land to build virtual homes as well as taxing other gamers to hunt or mine on the island.

I do believe we’ll see a few companies move to see if they can successfully integrate some sort of real money aspects into future games to nip the skyrocketing revenue in the bud (or at least to redirect it into their own coffers).

(source)

(Thanks for the tip Cal!)

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