Virtual Property Ladder?

A gamer who spent £13,700 on an island that only exists in a computer game has recouped his investment, according to the developers of the game.

The 23 year old, known as Deathifier, made the money back in less than a year. He made money by selling land to build virtual homes as well as taxing other gamers to hunt or mine on the island.

Deathifier bought an island which exists within the large multiplayer online role-playing game (MMORPG) Project Entropia. Project Entropia offers gamers the chance to buy and sell virtual items using real cash. In the words of the game creators, Project Entropia is "a virtual universe with a real cash economy. It is set on the distant colony of Calypso, the first habitable planet mankind has ever found. The players take the roles of colonizers that strive to build a new world together, under the threat from various enemies that wants to destroy the colony." Players must collaborate in a real-world fashion, to establish their own economy and build their society.

The game is free to download and there are no subscription fees. The Entropia economy works by allowing gamers to exchange real money for Project Entropia Dollars, (PED). The exchange rate is 10 PEDs to 1 US dollar), and players can earn cash by accumulating PEDs via the acquisition of goods, buildings and land.

Last month, another of Entropia's virtual properties - a virtual space station - sold at auction for £57,000. (Original story on BBC.)