Virtual property sells for US$635,000 in real money – Yahoo! Canada News


If you’re already struggling to afford property in the real world you may be discouraged by the inflation in virtual real estate prices.

Earlier this month, Jon Jacobs, known as ‘Neverdie’ online, sold a piece of online property in the game Entropia Universe for $635,000 (all figures in U.S. dollars). The real estate came in the form of the virtual world‘s largest “resort asteroid” and was sold in small parcels to a number of buyers.

Jacobs made waves in 2005 when he bought the property for the then unheard-of price of $100,000. What once seemed foolish to many as been vindicated by a shocking return on investment of 535 per cent in just five years. Jacobs also derived income from the property while he owned it, renting out virtual hunting and mining rights. He recouped his initial investment after eight months.

via Virtual property sells for US$635,000 in real money – Yahoo! Canada News.

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