Thursday, May 3, 2007

Virtual Banking Licenses net $900k for Mindark

Today concluded the auctions for five banking licenses inside Entropia Universe. The licenses themselves netted over $400,000 for Mindark, and each license winner is required to maintain a balanced of $100,000 in their account to ensure their services. What you may not hear in the hype is that these would-be banks primary service will be lending in game funds using only virtual items as collateral. I hesitate to use the phrase pawn shop with all its negative connotations, but I'm struggling to find an alternative. Suggestions?

2 comments:

Chris Hackard said...

Hmmm, if none of the winners of these licenses hold a real life banking license then we can call Entropia Uninverse, Pawntropia. I guess the next major profession will be repo men lol just kidding. Hopefully at least one license ended up in the hands of and institution or at the very least one of these players has looked into or already acquired a banking license so they (and the rest of us) can benefit from the full features of the licenses.

Happy day for Mindark and the winners hopefully it works out for the benefit of everyone.

Matt Barlow said...

I will hold judgement until I see what the new banks offer. I'm hoping at least one will offer a savings account. At least then I can earn some interest on my ingame dollars. I wouldn't use them for a loan service though.