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  Virtual ‘Project Entropia Dollars’ Jump to Real ATMs  
 
 
Posted 2006-05-02 by Tony Walsh
 
 
     
 
Entropia Universe gamers may now exchange their virtual world currency with real world cash using Versatel-compatible ATMs, according to Entropia developer MindArk. The cards are available exclusively through MindArk and bridge a player's in-game PED ("Project Entropia Dollars") with their real bank account. The rate of exchange (10 PEDs to $1 USD), according to MindArk, is fixed.

With an increase in real-money trading taking place via online games, it's only a matter of time before governments around the world start treating the acquisition of virtual currency as real income for taxation purposes. As Julian Dibbell has discovered, the provision exists in U.S. tax law to treat virtual commodity exchanges as barter transactions, it's just that nobody in the government seems to understand this new type of commerce. I find it hard to imagine that an exploding gray-market economy will be ignored by authorities for much longer.
 
     
 
   
 
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  4 Comments  
 
   
 
Comment posted by Walker Spaight
May 3, 2006 @ 11:09 am
     
 
Tony, I don't doubt you on this, but...source?
 
     
 
     
   
 
Comment posted by Tony Walsh
May 3, 2006 @ 11:16 am
     
 
From the horse's mouth.

I've been leaning towards not linking directly to press releases lately, partially because the destination content sometimes expires, but also because I don't feel a verbatim PR adds much value to a story, even if it is the source. I condsider it my task to cut through the fluff and pull the relevant facts out. Just providing a rationale here.

Also, it may interest you to know that I have a hidden field in my blog entry software, where I paste in the source material used in the entry. This way, if a company pulls the link, I still have the original article or PR on hand.
 
     
 
     
   
 
Comment posted by Marshall Kirkpatrick
May 3, 2006 @ 12:45 pm
     
 
Tony, I would really like to be able to read full text from the horse's mouth. Especially if it's a horse putting out a press release. How often do you see that?
 
     
 
     
   
 
Comment posted by Tony Walsh
May 3, 2006 @ 12:51 pm
     
 
I hear you, Marshall. Mark and I were just chatting about the merits of PR links, and I'm going to include links to PR in the future. In summary, it's an Old Media vs New Media thing. Sometimes I waver between the two approaches. This time it didn't take more than a nudge to change my practice.
 
     
 
     
   
 
 
     
 
     
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