Digital Trends
If you want to see how the lines between the real and virtual worlds are becoming fainter, look no further than Sweden. There the game Entropia Universe has been granted a license to be a bank by the Swedish Financial Supervisory Authority, according to the BBC.
According to game developers Mindark, the banking system in the game should be fully functional within 12 months, with 10 Project Entropia Dollars (PEDs) currently going for $1 US.
Back in October 2005, Mindark’s Project Entropia MMORPG attracted attention for selling a virtual in-game space station for $100,000 in real money to player/entrepreneur Jon Jacobs. Now they’ve got a new idea: real world cash cards which let players access money they’ve earned in the game’s virtual universe.
Project Entropia’s in-game economy is linked to the real-world currency: a Project Entropia Dollar (PED) is equivalent to $.10 USD. With the Project Entropia ATM card, players will be able to access in-game funds as real-life currency using any Versatel ATM machine around the world. Players will be able to transfer, withdraw, and deposit funds back and forth from their Project Entropia Universe account.
On October 24, Jon Jacobs spent the equivalent of $100,000 in an auction for a virtual space resort in the online game Project Entropia, a massively multiplayer online role-playing game (MMORPG). The auction began October 21, 2005, with a starting price of one Project Entropia Dollar (PED)
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