Technology & Innovation — November 13, 2010

Virtual Real-Estate Boom

The world’s largest virtual real-estate deal took place this week on Second Life, a virtual world where people spend real money. The fictitious property went for $335,000.

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While real estate prices are down across America, there is one place that’s booming. Just don’t count on the bank giving you a mortgage for these properties. They are completely fictional. A virtual real estate deal caught the eye of many this week when Jon Jacobs, an Entropia Universe user, made a record US$335,000 in a single sale. Jacobs sold his property on a fictitious asteroid to John Foma Kalun, known as “pesok” in the massively multiplayer online game. Jacobs, known online as Neverdie, sold part of his land this week for $5,000 more than the previous online property sale record of $330,000. Both records were set by Entropia Universe users.

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