An online game has been given a real world banking license by the Swedish authorities, meaning all player accounts are guaranteed just like a regular bank account. Good move? Or could this herald the first virtual credit crunch? Read on for the skinny.
Entropia Universe, an MMO (massively multiplayer online game) run by publisher MindArk, has just had its virtual central bank approved as a proper bank by the Swedish Financial Supervisory Authority. The upshot: MindArk will be able to offer Entropia players full banking services, like interest accounts and loans to those who really shouldn’t be given them.
Presumably, the avatars running Mind Bank, as it’s called, will also be able to take home absurd pensions in the online game.
The move also means that accounts in the online game will be secured to the tune of $60,000 (£41,000), and regulators will be able to monitor transactions in the online game. Good news for Entropia players, bad news for money launderers. MindArk hopes to launch the real world online game bank within a year, so we’ll keep you posted.
Out Now | £varies | MindArk
