In a story by Yahoo Games, a user in the popular game Entropia has managed to sell virtual property for the whopping some of $635,000.
Jon Jacobs, also known as the character ‘Neverdie’, purchased the land back in 2005 for $100,000 and managed to transform it into a hopping club and resort. By selling rights to hunt and land on the asteroid, Jacobs managed to make 100% of his initial investment back in just 8 months.
Entropia Universe is a massive multiplayer online virtual universe designed by the Swedish software company MindArk, based in Gothenburg. Entropia uses a micropayment business model, in which players may buy in-game currency (PED – Project Entropia Dollars) with real money that can be redeemed back into real world funds at a fixed exchange rate. This means that virtual items acquired within Entropia Universe have a real cash value, and a participant may, at any time, initiate a withdrawal of their accumulated PEDs back into real world currencies according to the fixed exchange rate, minus transaction fees, the minimum amount for a withdrawal is 1000 PED. As a result, revenue of the business is largely generated from activities within the virtual universe.
More information about Entropia can be found here.