Guy Spends Over $300,000 on a Virtual Item

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QUOTE said:
Earlier this year, I bought a house for $US360,000. It was a scary investment, yes, but also one that gave me somewhere to live. I just can’t see buying a virtual item for $US330,000 being as practical.

Buzz Erik Lightyear, a major player in the world of Entropia Online, recently spent that much money on a single item in the game, the “Crystal Palace” space station.

Sounds absolutely crazy, but then, there’s a catch: the Crystal Palace sells items in the game world, and Buzz will get a cut of every sale made. There’s also major profits to be made hunting the creatures that roam the station.

Still…$330,000 on something that’s really just a bunch of polygons sitting on a server, whose survival is dependant on the whims of the company controlling those servers… I’ll stick to spending that kind of money on real dwellings, thanks.
Source

Never played the game. But even for a catch like that... ugh; good money wasted.

Not worth it.
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EDIT: For those that don't know, here's a description of the game taken from Entropia's site:

QUOTEEntropia Universe is a Massively Multiplayer Online Virtual Universe with a Real Cash Economy. Over 750,000 participants from around the world interact in a rich three-dimensional environment with a secure and dynamic economy. Entropia Universe takes the MMORPG genre to the next level by offering a unique mixture of online entertainment, social networking and e-commerce through a ground breaking new concept: the connection of a real economy to a gigantic three-dimensional virtual universe.
 
It's not so crazy, actually. People make major investments in games like Second Life and they do pay off. It's just as valid an investment as buying a share of a store or company.
 
Guild McCommunist said:
It's not so crazy, actually. People make major investments in games like Second Life and they do pay off. It's just as valid an investment as buying a share of a store or company.
The guy probably already has these, but wouldn't you much rather spend that $300,000 on each of the consoles, some new furniture, pay off some bills, etc?

Yeah, maybe the guy has satisfied himself, but I'd prefer to spend that kind of money on some real stuff.
nyanya.gif
 
Raiser said:
Guild McCommunist said:
It's not so crazy, actually. People make major investments in games like Second Life and they do pay off. It's just as valid an investment as buying a share of a store or company.
The guy probably already has these, but wouldn't you much rather spend that $300,000 on each of the consoles, some new furniture, pay off some bills, etc?

Yeah, maybe the guy has satisfied himself, but I'd prefer to spend that kind of money on some real stuff.
nyanya.gif

Why blow your $300,000 on random stuff when you can invest it and get more cash? That's what he did. You may all be laughing at him now, but given time he'll have the last laugh. That $300,000 odds are will be more than that in time. The internet and MMORPGs may seem an odd way to invest money, but if a game is big enough (like Second Life or I'm going to assume whatever this game is), it's just as sound an investment as buying large amounts of stock in a company that's skyrocketing.
 
Guild McCommunist said:
Raiser said:
Guild McCommunist said:
It's not so crazy, actually. People make major investments in games like Second Life and they do pay off. It's just as valid an investment as buying a share of a store or company.
The guy probably already has these, but wouldn't you much rather spend that $300,000 on each of the consoles, some new furniture, pay off some bills, etc?

Yeah, maybe the guy has satisfied himself, but I'd prefer to spend that kind of money on some real stuff.
nyanya.gif



Why blow your $300,000 on random stuff when you can invest it and get more cash? That's what he did. You may all be laughing at him now, but given time he'll have the last laugh. That $300,000 odds are will be more than that in time. The internet and MMORPGs may seem an odd way to invest money, but if a game is big enough (like Second Life or I'm going to assume whatever this game is), it's just as sound an investment as buying large amounts of stock in a company that's skyrocketing.

Aren't the profits he's making all virtual?
The place sells items "in the game world". And he gets cuts of every sale made.

QUOTE(stab244 @ Jan 2 2010, 01:23 PM) QUOTE(asdf @ Jan 2 2010, 10:05 PM)
Buzz Erik Lightyear O_O?
Exactly what I was thinking...
Probably his IGN.
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I'd rather invest my money in some art, gold or just put it in a savings account. I wouldn't really consider an MMO as a long term investment. There'll be something else out to replace that game soon enough.
 
i agree with guild*, the internet nowadays offers a lot of possibilities to earn money, and to invest that money in that virtual game object seems to be very idiotic in the first hand, but farther viewed it could be a goot tactical step to have percetages which brings cash, kinda virtual stocks', if you take a look at the success of mmorpg godfather' wow, which thousands of people play and invest money in, it would be probably lucrative to get a piece of this pot. that's the theory, but in the practice i would doubt to spend so much money because it seems to be too unsecure for myself:.
it depends on the success of the game he bought the item in, to tell the truth, never heard of this game
wtf.gif
 
It's about as fool-hardy as thinking you actually own a house you spent that much money on. Even if you were to "pay it off," it's still in ownership of whoever can claim it for whatever recognized reasons.
 
well..i though the guy who wasted his life for a playstation 3 due to not paying the bills on his truck was bad....this is even crazier.
This is what i call the ultimate fiction of addiction in a theoretical correction.

....ok that was odd. i wonder if something bad will happen now
 
so in the game, who built and originally controlled this "Crystal Palace"? The game designers? In that case did they just make 300G pure profit?...

This would bring a new level to paid game content... kinda like DLC lol.
 
And look what I found...
QUOTE said:
FPC congratulate avatar Buzz Erik Lightyear for acquiring the Crystal Palace Space Station for the amount of 3,300,000 PED (USD 330,000).

The price also surpasses the old world record for virtual property previously set with the purchase of Club Neverdie - The Virtual Space Resort and Nightclub, for 1,000,000 PED (USD 100,000).

Full official announcement coming soon.
 

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