A Texas man has given away his entire life savings to buy virtual land on an online virtual reality game. Let’s hope the property market isn’t as dire in the metaverse. KXAN reports that Texas native, Justin Reed, whose online alias is David Joker, spent US$18,000 (AUD $26,317 or £14,974) for the Khorum Coast, a piece of property in the virtual land Entropia Universe. "I know it sounds like a lot, and it's a crazy thing to tell someone that, you know, I'm a virtual landowner, and I put my life savings into it. But I believe in Entropia," said the new virtual property owner. Reed has been playing Entropia Universe for almost 20 years and says the game has helped him pay his college tuition.
“I get a revenue based on everything that a player finds out there. If they go out on doing their mining, I get a 3 per cent tax revenue on that. And that’s how I get my income,” he explained. He also revealed that he pays $60 (AUD $88 or £50) to keep animals stocked on his land but doesn’t pay taxes. We can’t deny that’s a pretty decent deal. KXAN claims Entropia Universe is billed as the longest running metaverse after launching all the way back in 2003, which is well before the likes of Facebook and other companies launched their own virtual worlds. Virtual property is definitely having its hot girl summer right now as more and more investors are splurging massive coin to buy land through the metaverse. ABC News reports that Perth mother Christie paid a little over $1,000 (USD $685 or £569) to buy a virtual penthouse through the game Utopia.