Entropia Universe - Significant Events and Virtual Property Sales

Significant Events and Virtual Property Sales

On December 14, 2004, the game creators MindArk announced the conclusion of the first "Treasure Island Sale". This was a virtual island put up for auction. The winning bidder, an avatar named Zachurm "Deathifier" Emegen, paid 265,000 PED (US$26,500) for the island. At the time this was the highest price ever paid for a virtual item. According to the press release, it is "a large island off a newly discovered continent surrounded by deep creature infested waters. The island boasts beautiful beaches ripe for developing beachfront property, an old volcano with rumors of fierce creatures within, the outback is overrun with mutants, and an area with a high concentration of robotic miners guarded by heavily armed assault robots indicates interesting mining opportunities."

On October 24, 2005, a virtual 'Asteroid Space Resort' was bought by Jon "Neverdie" Jacobs for a sum of 1,000,000 PED (US$100,000), greatly surpassing the sale of Treasure Island. Jon Jacobs is also the writer and producer of a song played within the Entropia Universe called "Gamer Chick". The Asteroid was named Club NEVERDIE after Jacobs's own in game Avatar and has made headlines around the world for the high price of the purchase and his own ambitious plans to turn the resort into a venue for "Live Entertainment in Virtual Reality".

On November 9, 2005, the BBC reported that "Deathifier" had recouped his investment in under a year. He made money by selling virtual homes as well as taxing other gamers to hunt or mine on the island. "The money made to date is only a taste of what can be achieved with my virtual island purchase," said Deathifier.

On May 2, 2006, MindArk announced the introduction of an ATM card enabling players to withdraw the real-world currency equivalent of their PED funds directly from any real-world Versatel ATMs. As reported on the BBC newsfeed users could sell virtual items online and then go purchase a dinner for themselves down the street in real life with this cash card technology. It was stated that $165 million had "passed through the game" in 2005 and that this figure was expected to double in 2006.

Mike Everest, a home-schooled high school senior from Durango, Colorado, and his mother earned $35,000 in 2006 by constructing and selling weapons in Entropia. Of this, $12,000 will be used as college funds for his siblings. Everest spent an average of three hours per day playing the game and intended to continue playing to fund his own college education.

On October 17, 2006, MindArk announced that Entropia Universe had achieved the milestone of over 500,000 registered users. "The growth of Entropia Universe is an enormous achievement for us and the members," said Jan Welter, CEO of MindArk, developer of Entropia Universe. "As the world of video games evolves to become more than just a means of two-dimensional entertainment, we are seeing a demand for the integration of real-world features in virtual environments. Individuals are joining the Entropia Universe community to interact, meet new people, learn new ideas, reach entrepreneurial aspirations, create societies and even foster new relationships in everyday reality."

On May 8, 2007, MindArk announced the results of the world's first virtual Banking license auction. These two-year exclusive licenses aim to integrate real world banking systems into Entropia Universe. The virtual Entropia Universe banks will work similarly to real world banks, or pawn shops. Initially, they will be provided with secure systems enabling them to lend money to participants and collect interest, design and name their own virtual bank building(s), and make their own personnel available through avatars. Each winner must add a further US$100,000 as working capital. MindArk CIO Marco Behrmann said, "The five banks will have integrated services within the mechanics of Entropia Universe and will not just be virtual advertising spots." After months of bidding the five licenses sold for a total of US$404,000, to:

• Avatar “Janus JD D'Arcwire”, representing Wirecard Bank AG, who paid US$59,060.
• Russian Internet Payment Provider MONETA.ru, with avatar “Yuri iNTellect” who paid US$99,900.
• Entropia celebrity “Jon NEVERDIE Jacobs”, who paid US$90,000.
• Second Life virtual celebrity and entrepreneur Anshe Chung, who paid US$60,000.
• Avatar "Jolana Kitty Brice", an Entropia Universe participant and entrepreneur who paid US$95,000.

On December 8, 2009, the sale of the Crystal Palace Space Station was announced. A public auction held from December 14, 2009 through December 28, 2009 determined the new owner. It was won by Buzz Erik Lightyear who paid 3.3 million PED, or US$330,000 for it.

On June 15, 2010, parent company MindArk AB released its 2009 annual report. They reported a cash flow of -18.6 Million SEK (-$2.4M). In the report it states that the real life bank they were planning to start is on hold due to a lack of funds. MindArk also said they had a signed letter of intent to sell their original virtual planet, Planet Calypso, for a price of $6,000,000 USD to an unnamed company. This company was later on announced to be SEE Virtual Worlds, which was already a partner with the intention to release at least two planets in the Entropia Universe (Planet Michael, a virtual world celebrating the life of Michael Jackson, and a second planet featuring monsters from Universal) but in June 2011, MindArk released a statement announcing the end of the partnership with SEE altogether.