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MindArk | Play Now
MMORPG | Setting:Sci-Fi | Status:Final  (rel 01/30/03)  | Pub:MindArk
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Virtual Banking Licenses Up for Auction

Posted by on Jan 11, 2007  | Comments

Virtual Banking Licenses Up for Auction - Entropia Universe - MMORPG.com

Entropia Universe Offers Virtual Entrepreneurs the Opportunity to Become Real Bankers in Cyberspace.

MindArk PE AB, creators of Entropia Universe -- the original virtual universe with a real cash economy, today announced the auction of five virtual banking licenses which will integrate real world banking systems into the virtual world. These two-year exclusive licenses will be available through the public auction within Entropia Universe and will be open for bids beginning mid January 2007.

Entropia Universe is the only virtual universe on the internet whose currency has a fixed exchange rate with the US Dollar. Its currency can easily be moved between Entropia Universe and the real world using an ATM card. The Entropia ATM card can be used to instantly withdraw real cash from over 1 million ATM machines worldwide.

Giving the slogan 'more than a game' a whole new meaning, the virtual Entropia Universe banks will work in much the same way as real world banks, being initially provided with secure systems enabling them to:

Lend money to Entropia Universe citizens and collect interest for this service

Partake in the design and naming of their own virtual bank building(s)

Utilize the extensive advertising opportunities available within the Entropia Universe

Make their own personnel available through avatars that can interact with and provide service to other avatars

With over 500,000 registered accounts and a 2005 turnover of over 160 million dollars, MindArk PE AB's CEO Jan Welter Timkrans describes how: "The prospect of this entirely novel aspect of banking has generated considerable interest amongst many of the top brand names in banking. We are very excited to see the value of the world's first virtual banking license, and equally interested in soon finding out which banks, companies or private persons with the gift of foresight, we will have the pleasure of cooperating with in the exciting years to come."

Read more here.

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