27 Mar '14, 1am

Why Singapore's attitude towards virtual currency seems rather indifferent.: World's first $1m virtual property

Singapore-based game developer Planet Arkadia is offering investments in what is believed to be the world’s first million dollar virtual property. The company is offering players of the Entropia Universe game the chance to invest in 200,000 deeds priced at US$5.00 each – or PED 50 which is the in-game currency. This innovative offering has been launched in direct response to player demand for more opportunities to invest. According to the company, the ‘Real Cash Economy’ has been developed over a 10-year period, providing a solid foundation for the virtual economy as all in-game currency 'PEDs' are transferable to US$ at a fixed rate of 10 PED for each dollar. Importantly, the company added, participants are able to withdraw their earnings back to their real life bank accounts at any time. "Arkadia Underground has been highly anticipated within our Arkadian and Entropia Un...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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