Man Spends $300,000 on Virtual Item!


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http://elder-geek.com/2009/12/man-spends-3...n-virtual-item/

Buzz Erik Lightyear, (and yes reports do say this is his name) recently spent 300,000 REAL dollars on a “Crystal Palace Space Station” in the game Entropia Online. This now sets the record for the most money ever spent on a virtual item. This game is not well known in America, but is very popular in Europe. What sets this game apart is the currency is based on real world money, and has an exchange rate with the US Dollar of 10-1. The Swedish Government even recognizes the game as a legitimate bank, that it will exchange with. Apparently this Space Station sells items to other players, and reports indicate Lightyear will able to get a cut of this (no word on what Woody will be getting yet). Some could argue this is a good investment considering the popularity of the game? What do you think Elder-Geeks? Will he get his money back in the long run?

500x_crystalpalace.jpg

:blink:

speechless

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I don't often approve of saying he must have no mates. But seriously 30k on that. :|

30K? 300K! :blink:

If he makes his money back and then some, then props to him for thinking it out. If not, then just wow. :no:

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Is this a real game? I personally never heard of it.

Also, his name. HIS NAME!

Thats sorta lame, but I am a Truck Driver, and one company I Worked for had two long time drivers who at some point in their lives decided that they would change their names to

Truck T Driver and Diesel T Truck

lol. anyone else get that?

Yup

woody.jpg

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I don't think this is as stupid as it sounds. If this MMO game pulls in enough money to function as a real bank, the guy just bought one for incredibly cheap. Not to mention that sales in MMO games are illegal and this bank doesn't have the risk of crashing from people pulling out.

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It's not terrible considering he basically invested in an online store..... if he was just getting an item I'd think it was a bit odd, but he's getting money back, it's just an investment.

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Here's more:

crystalinsanity.jpg

Remember a while back when we mentioned that the Crystal Palace Space Station went up for sale in Planet Calypso, marking the start of another insane bidfest to claim what could be a very real source of income? Well, the auction is over and the winner has been declared -- Buzz "Erik" Lightyear has taken control of Crystal Palace for the very, very hefty sum of 3,300,000 PED. For those of you who want to know the real world value, you're looking at a cool 330,000 dollars.

http://www.massively.com/2009/12/29/crysta...000-us-dollars/

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While this seems insane (and it probably is, to some degree), Mr. Lightyear will be looking at revenue coming in from the hunting conducted on the space station, plus the purchases made there. In short, this space station is a walking money generator, especially as it's the only place to find alien body parts used to make high-end armor. All Buzz has to do is let the station run, set a decent tax rate, keep it stocked with things to hunt, and he can take all the PED he earns and translate it into cold, hard cash.

So even seems his input into the making of money will be minimal, not sure how many people 'play' this game but people with that kind of money tend to evaluate investments and I guess he sees it as a pretty good one :) Credit to him if it works, I guess it's just a bit of a gamble and can be looked upon by some as geeky.

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Hah I didn't realize Entropia was still around. I used to play about 7 years ago when I was young but back then couldn't afford to spend any real money on items so I spent about two weeks walking round asking people for donations. I did actually get some cash from a few people but never enough to properly get started with a trade.

I don't see why people are giving this guy ****. I mean i doubt he spent his life saving on this, he's obviously got alot of money. People spent this much money (or even more) on varius things/hobbies that don't generate any money back. This is an investmant (admitingly a very brave one) but who knows, if he made millions off this over the years, whats to say it wouldn't be a catalyst for people to really seriously consider making money off of online games/virtual space etc.

I'm keen to give the game a whirl now that I have some cash. Seven years ago it was pretty early in it's life but it showed definite promise i'm keen to see how the world has progressed!

edit: gave the site a quick look, wow it has really changed, some bloody good mmorpg ideas in here though check it out guys.

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