Entropia Universe players invested the equivalent of $500,000 to own a space station

    
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Virtual world MMO Entropia Universe is no stranger to bizarre news stories. We’ve covered investors divvying up the moon, selling unique weapons for over $50K, and even invisible clothing worth more than my entire real-life closet. Today, however, we’re covering the Crystal Palace.

MMO readers will recall that at the tail end of last year, Mindark announced that it would be selling 500,000 shares of the massive Crystal Palace in-game location, allowing shareholders to accrue a cut of the loot players collect there, and then cash out.

Crystal Palace is back in the news today as Mindark’s amended that to note all the shares sold – in just two days.

“Earlier this month, Crystal Palace Space Station, the first company to be listed on the market, saw all of its shares claimed in less than 48 hours, marking the first time in the game’s 16-year history that shares in a privately-held estate were offered to the entire playerbase of Entropia Universe. On May 2, all 500,000 available shares of the iconic Crystal Palace Space Station were snatched up within a two-day period. Each share was offered at a price of 10 Project Entropia Dollars (PED), (equivalent to $1 USD) each via the recently implemented Share Center.”

Puts RMT in perspective, doesn’t it?

Source: Press release
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Lily Cheng

double post, please delete

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silverlock

Just to be clear that’s what it would cost you to buy that much in game cash. Doesn’t mean they really spent that much real world cash on it. It’s kind of like one of Eve’s 10 million dollar battles.

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Lily Cheng

Except for the fact that you can’t exchange PLEX for real world money into your bank account through first-party official means.

This is the complete opposite in Entropia Universe minus the small transaction fees for each withdrawal from the game. So $500,000 worth of PED here is absolutely nothing like a battle in EVE costing $500,000 worth of PLEX.

Covynant001
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Covynant001

Didn’t think it possible, but here’s a group of gamers with less common sense than Star Citizen backers.

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Jon Wax

Guessing you haven’t played it?

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Castagere Shaikura

The 1% MMO. The money spent in the game is insane.

PurpleCopper
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PurpleCopper


Sometimes I wonder if it’s a business disguised as a game…

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terminallynerdy

Honestly didnt even know this game was a thing till now. Thats insane. I could do so much with 500k! That would like pay for me and my wife to live at our current level of income for 10 flipping YEARS

laelgon
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laelgon

I played this game years ago and remember it was basically impossible to do anything without spending real money first. Something about the ability to transfer money into and out of the game makes me suspicious that there’s a bit of money laundering going on. Or maybe it’s just a virtual playground for the super rich to flex their wealth.

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Melissa McDonald

…in a game nobody plays. SMH.

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PanagiotisLial1

i wouldnt say that but its a game where the RL poor will look as poor(if not more) in game and the rich will be feeling their riches even more in more extreme way than lets say Star Citizen. Still they got a loyal playerbase but its weird this game never gains any heat for their financial model

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Lily Cheng

I would say it doesn’t get as much heat because it very clearly explains upfront exactly what it is. It isn’t a game which is advertised as a full game that you pay $60 for but then have to pay for lootboxes to unlock the rest.

The only terrible advertising they do is the fact that they try to attract players by saying they can earn real money, which is true to some extent but realistically 99% of players will never reach that point as it is not just a matter of logging in, grinding some mobs, doing fetch quests and thinking you can convert some gold magically into real $$.

kjempff
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kjempff

As I understand it, you need to invest a lot of real money to be able to get to a point where you can start grinding for stuff to sell. And then it cost real money to grind, and only the knowledgeable/efficient get a positive number out. Well, just second hand info.

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Lily Cheng

yet for some reason they have managed to keep the game running since 2003 with nobody playing….

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Jon Wax

Thanks. It’s pretty obvious how biased both community and mop are. Anything outside of the echo chamber gets down votes.