Entropia Universe - an online game which calls itself "the first virtual universe with a real cash economy',has been granted a licence to be a bank.Issued by the Swedish Financial Supervisory Authority, the licence means the game can be more closely tied to the real world finances of players.
However, players pay real money to get at in-game items, such as guns, armour and other gear, and the micro-payment system pays for Entropia's running costs.The licence will make it easier for players to convert real world cash into PEDs and sustain their characters in the game, said Mindark in a statement.
Jan Welter Timkrans, boss of Mindark,"We will be in a position to offer real bank services to the inhabitants of our virtual universe" . The in-game banking system plans to offer players interest-bearing accounts,depositting their salaries and pay bills or lending cash. The licence also means that each account is backed by deposit insurance to the value of $60,000 (£42,000).Regulators will get oversight of financial transactions carried out in the game world, so they can spot if criminals are using it to launder money.Mindark claims that more than 800,000 people have registered to play the game and 80-100,000 are regular players. About $420m of player-to-player transactions were carried out during 2008, according to Mindark figures.
25 comments:
hi this is Smith i am to this site it is very nice topic. One thing that a lot of people have missed in this recent economic down turn is the fact that in-game money for all of the massive mutliplayer online role playing games has not been effected. I guess it just shows how strong and stable the computer game industry really is.
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Virtual Currency
First of all, to the person above - the Entropian community has suffered greatly due to the economy slump!
Entropia...
Do not even visit their website!!
Entropia will foster a gambling addiction in you! Before you know it, you’ve spent more than you EVER intended to pay for ANY game and this becomes the reason you will continue to pay and pay and pay, hoping that one day, you will get it back.
But you won’t.
12 months down the road, personally, I’ve LOST 10,000 USD!
The last month has forced me to downgrade, so I am affectively back where I was 9 months ago in terms of gear and equipment, I have no money on my account to take part in any of the main professions, the value of my skills is deteriorating as the in-game economy is taking a beating.
Stay far, FAR away from Entropia Universe, for your own well being and sanity. Trust me – your money is FAR better spent elsewhere… anywhere else.
I for one am uninstalling as I type… sure, I’m giving up $10k I “invested” (hahaha investment my a$$) but it’s better to lose this 10k now and learn my lesson, than look back in another 12months and see my deficit rising past 30k (your cost to play increases relative to your skill level…. $10/month noob, $10/hour mid-level).
I wish I never downloaded this VR casino/scam/ponzi, my life is infinitely worse off because of it.
Hy all friends...Hope u all fine fine and enjoying your life..The expansion of online gaming has reflected the overall expansion of computer networks from small local networks to the Internet and the growth of Internet access itself. Online games can range from simple text based games to games incorporating complex graphics and virtual worlds populated by many players simultaneously.
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You know a new player receives only a damaged orange jumpsuit, a pair of grey shoes and a tool for gathering vibrant sweat from creatures
this is just only perfect for those people are only games. Just like me...:-)
Only those online games can only relate to this. I have no idea about this game, since I only play red alert and star craft.
I do love playing online games - that is a perfect way of wasting my time.
how I want to play this game, but I have to write my essay for college
I've never thought this could be true, thanks for shedding a light anyway. Keep up the great work, I really enjoy reading your posts.
Bad news for players =(
Entropia is really an exciting online game. It is obviously the first virtual game with a real cash economy.
Most game design job listings specifically state that they want people with undergrad degrees in computer science. If you can handle a double major in CS and digital media, that would be a powerful combination. If not, then a major in digital media and a minor in CS might work, if you want to do the more art side of game development.
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The expansion of online gaming has reflected the overall expansion of computer networks from small local networks to the Internet and the growth of Internet access itself.
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