Man invests life savings in online game

Man invests all his savings in virtual property

A man in Texas has been saving all his life to acquire a piece of land in an online video game, Entropia Universe.

Justin Reed has donated a hefty sum of money to buy property that he will never be able to use because it doesn’t actually exist.

Reed used his savings — $18,000 — on land in the online virtual reality game Entropia Universe, according to local NBC connected, KXAN.

“I know it sounds like a lot, and it’s crazy to tell someone that, you know, I’m a virtual landowner, and I’ve put my savings into it. But I believe in Entropia,” Reed told KXAN.

Man invests savings in online game
A man in Texas used his savings to buy a plot of land in an online video game. Here people play online games in Beijing, China on September 11, 2021.
Andrea Verdelli/Getty Images

Entropia Universe is an advanced 3D online virtual environment with an evolved planetary system and one universal Real Cash Economy system. the game’s website. players in the game get the chance to interact with people around the world as users explore virtual planets.

The Entropia Universe website further notes that “it costs nothing to become a member and there are no subscription fees.” It also points out that the game’s economy offers users a huge amount of freedom because it is “built on an advanced micropayment system”.

In addition to the thousands of dollars Reed spent acquiring Khorum Coast — the piece of virtual property he owns in Entropia Universe — he spends $60 a month keeping his land stocked with virtual animals, KXAN reported.

Reed claims he’s seen dividends out of the game, including $5,000 that he used to pay for his higher education costs. Also, according to the station, Reed has earned about $1,200 since he made the massive investment in March.

In addition, he explained how he can get financial benefits from his $18,000 investment.

“I get income based on everything a player discovers there. If they do their mining, I get 3 percent tax revenue on that. And that’s how I get my income,” he told KXAN.

Not only has Reed made a significant monetary investment in the game, but he has also put an enormous amount of time into Entropia Universe. Reed has been playing the game for almost 20 years.

But for those still skeptical of its expensive move, Reed argued it’s no different than someone starting a small business.

“I would say anything can be a bad investment. I could have started a bakery with my money, and no one could have bought my bakery rolls,” he said. “This just makes me feel like I have more control,” he told KXAN.

news week contacted Mindark, the company behind Entropia Universe, for comment.

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