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Is the price of virtual property getting out of hand? Jon Jacobs, a Miami resident, has bought a virtual space station in the game Project Entropia for $100,000 and wants to turn it into a cross between Jurassic Park and a disco. Mr. Jacobs plans to hire famous DJs to entertain visitors one a week or so at the "resort" space station (which he calls Club Neverdie), and thinks he can net $20,000/month (real money) from the "hunting tax and other income."

Read CNN article here.

In an interesting twist, Mr. Jacobs bought the space station from the game developer itself, MindArk PE AB. This raises some interesting legal implications regarding the developer's ability to shut the game down. If the game goes under tomorrow, does Mr. Jacobs get his money back. I sure hope he didn't mortgage his house for that purchase... oh wait, he did! The deal was brokered by IGE, a broker of game property.
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