Kaeden Ong

World’s first $1m virtual property

Posted by Kaeden Ong on 29th March 2014 in Blog

Singapore-based game developer Planet Arkadia is offering investments in what is believed to be the world’s first million dollar virtual property.

The company is offering players of the Entropia Universe game the chance to invest in 200,000 deeds priced at US$5.00 each – or PED 50 which is the in-game currency.

This innovative offering has been launched in direct response to player demand for more opportunities to invest. According to the company, the ‘Real Cash Economy’ has been developed over a 10-year period, providing a solid foundation for the virtual economy as all in-game currency ‘PEDs’ are transferable to US$ at a fixed rate of 10 PED for each dollar.

Importantly, the company added, participants are able to withdraw their earnings back to their real life bank accounts at any time.

“Arkadia Underground has been highly anticipated within our Arkadian and Entropia Universe communities, especially now we have the ability for every player to earn revenues with such a low barrier to entry,” said David Dobson, Chief Executive Officer of Arkadia Studios.

“Every player can now participate in Arkadia’s vibrantly growing economy which has enjoyed a quadrupling of activity year-on-year for three years. Where else can you make investments where you can also jump in to play for fun and be rewarded on so many levels?”

The company was founded in 2010 and is supported by Singapore’s Media Development Authority according to its website. Entropia Universe is the world’s largest ‘Massively Multiplayer Online Real Cash Economy’ game

Credits PropertyGuru

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