10-28-2005, 10:15 PM
| | Virtual Home Ownership Draws Real Cash
NEW YORK — Rising interest rates have yet to cool white-hot real estate prices. Perhaps that's why the concept of virtual home ownership has captured the imagination of a growing number of online gamers, who are plunking down real cash for their own slice of the digital frontier.
Large swathes of undeveloped online property, some bearing an uncanny resemblance to a palm-studded West Coast beachfront idyll, are selling for up to $550 an acre.
That amount is but a song compared with real world real estate, but these are computerized representations of property — pretty pictures, if you will — in an online graphic role-playing game known as Second Life.
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