Man Spends $300,000 on Virtual Item!

[Elites]

http://cache.gawker.com/assets/image...stalpalace.jpg

Buzz Erik Lightyear, (and yes reports do say this is his name) recently spent 300,000 REAL dollars on a “Crystal Palace Space Station” in the game Entropia Online. This now sets the record for the most money ever spent on a virtual item. This game is not well known in America, but is very popular in Europe. What sets this game apart is the currency is based on real world money, and has an exchange rate with the US Dollar of 10-1. The Swedish Government even recognizes the game as a legitimate bank, that it will exchange with. Apparently this Space Station sells items to other players, and reports indicate Lightyear will able to get a cut of this (no word on what Woody will be getting yet). Some could argue this is a good investment considering the popularity of the game? What do you think Elder-Geeks? Will he get his money back in the long run?

http://elder-geek.com/2009/12/man-sp...-virtual-item/

If the game is as popular as they say it is, bet he'll make half of that money back in due time. Go go buzz!

[Aurara]

holy shit 300k on a virtual item...hope he makes that money back at least..

[SephYuyX]

holy shit 300k on a virtual item...hope he makes that money back at least..

No, I hope he loses that and more for being such a damn idiot.

[Fievel]

No, I hope he loses that and more for being such a damn idiot.

My thoughts exactly

how fucking stupid

[Conrad]

His name is Buzz Lightyear. Must we expect anything more?

[Aurara]

No, I hope he loses that and more for being such a damn idiot.

he is a fucking retard...but i feel bad for the guy. D:

[wipers]

This isn't that surprising. People spend money all the time on virtual currency just not spending 300,000 all at once.

[Ksandra]

No, I hope he loses that and more for being such a damn idiot.

I would agree if it wasn't a european game.

You've seen how much they buy/sell acounts on FF.

I have a feeling he'll get his money back then profits.

[stewie]

An island was bought in 2005 for $100,000 in the same game. This game is basically using real money to obtain virtual goods which you can in turn turn back into real money.

[Vuitton]

It is a clever way to solidify large amounts of cash which can be liquefied at a later date. This guy didn't spend $300K on MMO currency. What he bought is a virtual investment from an online game that is also a bank and which is going to turn a profit at some later time. I am sure there is some risk involved (game loses popularity), but I don't doubt this guy did his research before taking the risk.

[Ksandra]

I wonder what I could make with 10 bucks in that game.

[stewie]

I think wopa should play it.

[Blabj]

It's popular in Europe, is it? I wonder why I haven't heard of it before?

It just adds to the wastefulness of this purchase.

[Fievel]

It's popular in Europe, is it? I wonder why I haven't heard of it before?

It just adds to the wastefulness of this purchase.

You're not hip, apparently.

[Rocl]

his name is Buzz Lightyear that is amazing he can buy whatever he wants in my book

[Sirenia]

300k on a virtual item? If this guy isn't just swimming in money then he's just retarded.

[Aurara]

300k on a virtual item? If this guy isn't just swimming in money then he's just retarded.

we can only hope...otherwise..then well..yeah hes a fucking idiot. 300k is ALOT of money D:

[Kyreth]

we can only hope...otherwise..then well..yeah hes a fucking idiot. 300k is ALOT of money D:

Sounds like the guy is trading in 300K for a cut of the virtual/real money flow in the game. If the traffic is high enough, that's a valid investment (see Second Life).

[vagus]

The Swedish Government even recognizes the game as a legitimate bank, that it will exchange with.

Money laundering? Lol.

[Lurking Badger]

eh, yea right.