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Virtual real estate sold for $635,000 ... do we need a section on the Forum for virtual real estate

by TheDebtEliminator
12 replies
This is so amazing to me, do we have any members on the forum that have experience in creating or managing virtual real estate?

What are your experiences in participating in games that have virtual real estate for sale in real dollars?

Does this turn any light-bulbs on for you, or help you in any way? ... if it does, please leave a Thanks

Best regards ...Ron
#$635 #estate #forum #profit #profits #real #sales #section #sold #virtual #virtual real estate
  • Profile picture of the author Margo Tuul
    I tried once Simple Life. You can buy houses and everything there. Also sell your own stuff, but i didn't pay any attention to it, as its a game.
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  • Profile picture of the author TheDebtEliminator
    Greetings Margo,

    I agree with you, to me it's just a game ... I don't mind paying a small monthly fee for participation.

    I really would have to think twice about purchasing virtual real estate.

    However, this information has enlightened me and maybe the best investments in today's business climate ... could be virtual real estate?

    Where else could you get a return like the one they're describing?

    Best wishes ... Ron
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  • Profile picture of the author Chad Heffelfinger
    I just don't get the whole thing, but that doesn't change the fact that a lot of people are addicted to it. I had heard about people making money in Second Life, but hadn't heard of this game.

    It's crazy that people can make that kind of money with a game that only has 300,000 players. He made twice as much money selling that one club than the game has players which should tell you a little bit of just how much money each player must be spending on the game.

    I am sure there is money to be made in it, but it's just not for me.
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  • Profile picture of the author Headfirst
    I had a bit of a success with Entropia and with Second Life. It could warrant its own section on the forum. I no longer play either, but I still have accounts on both.

    It's somewhat risky buying virtual goods, but there can be money made from them. If anyone wants more info about that game maybe I'll do a write-up of entropia for marketers and entrepreneurs.
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  • Profile picture of the author TheDebtEliminator
    Hello Chad,

    You have hit the nail right on the head, he's made an awful lot of money and there's only 300,000 players.

    If those players are all willing to purchase a little piece of property that is offered to them?

    That is where the money comes from.

    It seemed to me that the proof is in the pudding, and there's an awful lot of money flowing in the virtual property income stream, and I would like to get part of it.

    Best regards ... Ron
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    • Profile picture of the author Headfirst
      Originally Posted by TheDebtEliminator View Post

      Hello Chad,

      You have hit the nail right on the head, he's made an awful lot of money and there's only 300,000 players.

      If those players are all willing to purchase a little piece of, that is offered to them?

      That is where the money comes from.

      It seemed to me that the proof is in the pudding, and there's an awful lot of money flowing in the virtual property income stream, and I would like to get part of it.

      Best regards ... Ron
      The company the runs the game is called MindArk they are a swedish company. If you google them you can find their annual reports online. They make a ridiculous amount of money. Plus I think that 300k number is wrong, they were touting their 600k signup back in 2007. This isn't the first big sale that happened in the game either. I think I might out together a WSO webinar on the subject of RCE(real cash economy) video games if there is interest in the subject.
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  • Profile picture of the author Dwight Anthony
    Yeah, I saw that as well. Pretty crazy when physical houses aren't even selling as well.
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  • Profile picture of the author zelosx
    That's crazy, I see this becoming a big thing in the next 20 years when our world goes more and more online
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  • Profile picture of the author Apollo-Articles
    What interested me was that he sold it for $635,000 (£399,000).

    When he was making '$200,000 (£124,000) per year from people buying its goods and services'.

    Seems it sold it for a very small price compared to what he could have? I guess it takes into the account that virtual business is never as concrete as brick and mortar businesses. That and his business was entirley dependant on Entropia Universe success.

    When you read pages like this, you suddenly think 'I gotta go do this now!' until it goes on to say:

    'Jacobs had bought the asteroid in 2005 for $100,000 (£62,000) after taking out a mortgage on his real-life house.'

    Interesting read nonetheless!

    Maxim Articles
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  • Profile picture of the author TheDebtEliminator
    Greetings Maxim Article,

    I agree, that he did have to pay to buy this virtual real estate property.

    But spending $100,000, to receive an income of $200,000 a year is fantastic.

    Normal Real estate values throughout the world have been depressed, and the market is very slow.

    Then he decides to cash out, at $635,000, after already receiving profits between $400,000 and $500,000 ... that is a great business to learn about and possibly be in.

    At the same time, people are buying virtual real estate every day, and the values are increasing.

    Look at this only from an investment viewpoint, what else is available that would give similar returns?

    It seems to me, that it's the right time to get into this business, even as a developer or investor … because this is a wide-open and growing field.

    All the best … Ron
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  • Profile picture of the author LetsGoViral
    Ah, Project Entropia again. Last time I remember some guy bought an island for $100'000 or something. He made back the money and more. Yes, it is a good investment, but not everyone has that kind of money to invest.
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  • Profile picture of the author Mohammad Afaq
    I have been planning on starting my own online video game for a long time and I did come up with a plan and everything but I started procrastinating and never got to it.

    Guess I will get started with this
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