Gamer Makes $535k Profit on Virtual Property Sale
Gamer Makes $535k Profit on Virtual Property
Sale
Jon Jacobs, a gamer who plays the character “Neverdie” on the online game Entropia Universe, reportedly sold a piece of virtual property for $635,000 five years after purchasing it for just $100,000. Jacobs reportedly purchased an asteroid in the Entropia Universe in 2005 for a then-record price of $100,000, then converted the virtual space rock into an extravagant resort property called Club Neverdie. After unloading the virtual club for $635,000, Jacobs got himself a nice 535 percent return on his investment.
The numbers represent real dollars. Created by the Swedish game designer MindArk in 2003, Entropia Universe contains a real world, fixed-rate currency exchange system that works a little like buying chips at a casino. Players trade real world currency for in-game money called Project Entropia Dollars, or PEDs, which can be traded back at anytime for real US dollars, with the company charging a small transaction fee, of course.
Jacobs has been quite the entrepreneur on the game, having made back the $100,000 he paid for the asteroid in just eight months by selling rights to hunt and mine on the asteroid as well as selling pieces of it as real estate. Jacobs worked the virtual property much like a real life real estate developer would, only with a lot less paperwork.
Jacobs is not the first Entropia player to make headlines. In 2009, fellow Entropia user Buzz “Erik” Lightyear bought an in-game space station for the eye-popping price of $330,000, making the station the most expensive piece of virtual property anywhere.
Jon Jacobs, a gamer who plays the character “Neverdie” on the online game Entropia Universe, reportedly sold a piece of virtual property for $635,000 five years after purchasing it for just $100,000. Jacobs reportedly purchased an asteroid in the Entropia Universe in 2005 for a then-record price of $100,000, then converted the virtual space rock into an extravagant resort property called Club Neverdie. After unloading the virtual club for $635,000, Jacobs got himself a nice 535 percent return on his investment.
The numbers represent real dollars. Created by the Swedish game designer MindArk in 2003, Entropia Universe contains a real world, fixed-rate currency exchange system that works a little like buying chips at a casino. Players trade real world currency for in-game money called Project Entropia Dollars, or PEDs, which can be traded back at anytime for real US dollars, with the company charging a small transaction fee, of course.
Jacobs has been quite the entrepreneur on the game, having made back the $100,000 he paid for the asteroid in just eight months by selling rights to hunt and mine on the asteroid as well as selling pieces of it as real estate. Jacobs worked the virtual property much like a real life real estate developer would, only with a lot less paperwork.
Jacobs is not the first Entropia player to make headlines. In 2009, fellow Entropia user Buzz “Erik” Lightyear bought an in-game space station for the eye-popping price of $330,000, making the station the most expensive piece of virtual property anywhere.
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