A Texas man named Justin Reed has given up his US$18,000 life savings to buy a piece of virtual land called the Khorum Coast.<\/p>\n
Tbe Khorum Coast is located within a video game called Entropia Universe. Entropia uses a micropayment model that allows players to make money in the real world through in-game transactions, mostly real estate.<\/p>\n
The new virtual land that Reed has acquired allows him to collect tax revenue on anything a player finds mining on his land.<\/p>\n
Reed, who appears online under the alias “David Joker,” said he has already earned US$1,200 since buying the Khorum in March, comparing the risk of investing to starting a real-world brick-and-mortar business.<\/p>\n
“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. I could have went out and started a bakery with my money, and no one could have bought my bakery rolls. With this, I just feel that I have more control,” Reed said.<\/p>\n
Reed, like many other users around the world, is banking on the imminent expansion of an immersive, big-tech-driven Metaverse.<\/p>\n
The sources for this piece include an article in FUTURISM.<\/p>\n","protected":false},"excerpt":{"rendered":"
A Texas man named Justin Reed has given up his US$18,000 life savings to buy a piece of virtual land called the Khorum Coast. Tbe Khorum Coast is located within a video game called Entropia Universe. Entropia uses a micropayment model that allows players to make money in the real world through in-game transactions, mostly […]<\/p>\n","protected":false},"author":4,"featured_media":20707,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[34,17,349],"tags":[275],"class_list":["post-25156","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-artificial-intelligence","category-data-analytics","category-development","tag-top-story"],"acf":[],"_links":{"self":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/25156","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/comments?post=25156"}],"version-history":[{"count":5,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/25156\/revisions"}],"predecessor-version":[{"id":25292,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/25156\/revisions\/25292"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/media\/20707"}],"wp:attachment":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/media?parent=25156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/categories?post=25156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/tags?post=25156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}