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Welcome to the real world
by serengeti on Dec 07, 2007 - 05:05 PM read 482 times |
MindArk the company behind space based virtual world Entropia announced yesterday that it plans to IPO next year - which will make it the first such company to list. Expect lots of corny headlines around the virtual world/real shares theme…
Entropia is free to play and makes money only from sales of virtual items. Sales in 2006 were $9.3m, up over 100% on 2005.
They have had two virtual item sales at the $100k level - an asteroid resort (now apparently worth $1m) and more recently a virtual banking license.
Entropia dollars convert to real dollars at a rate of 10 to 1 and players can withdraw their money from real world ATMs.
Also in the MindArk portfolio is a deal with China to build a virtual world that will make it easier to work from home.
Entropia is free to play and makes money only from sales of virtual items. Sales in 2006 were $9.3m, up over 100% on 2005.
They have had two virtual item sales at the $100k level - an asteroid resort (now apparently worth $1m) and more recently a virtual banking license.
Entropia dollars convert to real dollars at a rate of 10 to 1 and players can withdraw their money from real world ATMs.
Also in the MindArk portfolio is a deal with China to build a virtual world that will make it easier to work from home.
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