MindArk has announced that an Austrialian user of its MMORPG Project Entropia has paid $26,500 US to acquire an island located in the game's virtual world of Calypso. Unlike standard representatives of the MMORPG genre, whose publishers charge a monthly fee to make a profit, there are no charges for playing Project Entropia. However, players have to purchase in-game items with real world cash using their credit cards. The proud owner of the virtual island, an Australian named David Storey, now has the exclusive taxation rights over any hunting or mining acitivities on his property. He also can sell off property rights to those who would like to build a home on his land. Storey regards his acquisition as a good investment, which will turn a profit sooner or later.

Selling in-game items for cash is not a new trend. Almost all major publishers of MMORPGs, such as Lineage, EverQuest, Final Fantasy XI and World Warcraft have reported such activity. Blizzard Entertainment recently even threatened to ban all users of World of Warcraft who engage in such acivities.

• GameSpot