Not the Way I'd Spend 100 Grand

Now, I realize that there's a burgeoning virtual economy in massively multiplayer online games that I don't have much contact with, on the rationale that if I spent any more time on my computer than I currently do, my wife -- and not without justification -- would divorce my sad, geeky ass in about three seconds. Even so, this seems a bit off the deep end:

In one of the largest sales yet of property in an online game, a Miami resident has bought a virtual space station for $100,000 and wants to turn it into a cross between Jurassic Park and a disco.

Jon Jacobs, a director of independent films, plans to call the space resort, in the science-fiction themed game Project Entropia, "Club Neverdie." Like other land areas in the game that has been visited by 300,000 players, the resort grounds will spawn dinosaur-like monsters, which visitors can kill. Jacobs will take a cut of the virtual resources that the carcasses yield, like hides.

Jacobs, 39, plans to hire famous disc jockeys to entertain visitors once a week or so at the resort but still reckons on netting $20,000 a month from the hunting tax and other income.

I don't know which is more mindblowing: That the guy is willing to slap down $100K for something that doesn't actually exist, or that he expects to be able to recoup his investment in less than half a year. Suddenly, I feel like quite the fuddy-duddy. Now, people have been speculating that something like this could happen at least since Neal Stephenson's ground-breaking novel Snow Crash in the early 90s. But there's a difference between writing about it, and someone actually mortgaging his house to do it.

Does investing in the paradoxically-named "virtual real estate" seem like, I don't know, a smart idea? Tell me your thoughts.

Written by johnmscalzi Blog about this entry

This entry has 6 comments: (Add your own)

#6 Comment from rockinkyle246
11/11/05 5:07 PM | Permalink

this is pretty good how do i read other journals? email me at rockinkyle246@netscape.net
#5 Comment from lurkynat
11/11/05 12:53 AM | Permalink

Dear John,
ummmm...no.
hugs, natalie
#4 Comment from psychfun
11/10/05 10:04 PM | Permalink

Are you kidding John...think of what people spend on CDs & playstation, Xbox games ETC! I'm sure he will do quite well! I think I should get a loan! Ha!
#3 Comment from artloner
11/10/05 11:57 AM | Permalink

I think I heard something about people buying virtual real estate in NPR last year. (Well, not ON NPR...)

lolll

andi
#2 Comment from kevinq2000
11/10/05 11:38 AM | Permalink

Slashdot is running a story on their front page right now about another player in Project Entropia who payed about $25,000 for a virtual island. In less than a year, he's made that money back already from hunting licenses and selling plots of land. Apparently, it can be done.

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Not the Way I'd Spend 100 Grand