Online game gets license to be a bank – WTF?

Online game Entropia Universe has been granted a licence to be a bank. Issued by the Swedish Financial Supervisory Authority, the licence means the game can be more closely tied to the real world finances of players.

Mindark, the developers of the game, said it aimed to launch a fully-functioning in-game bank within the next 12 months.

At current exchange rates, 10 PED (Project Entropia Dollars) are worth one US dollar.

Players pay real money to get at in-game items, such as guns, armour and other gear, and the micro-payment system pays for Entropia’s running costs.

We will be in a position to offer real bank services to the inhabitants of our virtual universe,” said Jan Welter Timkrans, boss of Mindark. It plans to offer players interest-bearing accounts, let them deposit their salaries and pay bills or lend cash via the in-game bank.

When will they start offering mortgage-based derivatives?

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