Planet Postmoderna Blog

I have to say that if anyone ever had any doubt, look at this.

In the online MMO Game and Virtual World, Entropia, a virtual property called Crystal Palace, was put to auction. The land property is actually a space station that orbits Planet Calypso, the core planet in the Virtual World. It had been announced during the last month that this property would go up for auction. That announcement led to much discussion and speculation about who would bid for it, let-alone who would win it.

I heard stories that ranged from players like the legendary Deathdifier (who in a previous bidding war of days-gone-by won the famous Treasure Island on Calypso) to groups of players banding together to build asset pools of untold monetary amounts.

I unfortunately was not lucky enough to witness the event (only because it would have just bummed me out more that I could not have participated) but, here is an excerpt from an article by our friends over at Entropia Planets.

With 12 minutes to go, “Zachurm Deathifier Emegen” made his entry into the bidding, and set the bid to 1,010,000 PEDs. A bidding war erupted, with Qetesh raising to 1,111,111. Deathifier raised to 1,121,111, with Qetesh raising to 1,234,567 PEDs. Deathifier took the bid to 1,244,568 PEDs.

The auction finally ended the final bid of 3,300,000 PEDs made by “Buzz Erik Lightyear” at 23:01 Calypso time, thus ending an incredibly exciting auction.

Now why is this so important? Well, the exchange rate for the Entropia currency (PED) to US Dollars is 10:1. This means that for every dollar that is deposited in the Entropia Universe you would get about 10 PEDs (less charges). What does that say about the value of the virtual property of Crystal Palace? Well I can’t tell you how much it is worth but “Buzz” was willing to pay $330,000 US Dollars for it.

So to answer the question about virtual property having value? What do you think?

I can share with you that Deathdifier (and his real life persona), in the year the followed his winning the auction for Treasure Island for $26,500, he made back his investment in fees, taxes and land sales.

In any case we all wish Buzz the best of luck. We can’t wait to see what he does to make Crystal Palace blossom and recoup his investment (and then some).