Name: Entropia Universe

Company:MindArk, a Swedish software company.

Overview: The stage is the fictional futuristic planet of Calypso, where users play as settlers tasked with colonizing a wild land, hunting monsters for by-products to trade and sell, mining for materials and exploring as they form new societies.

How it Works: Entropia runs in its own app, which requires the download of an installer and a client. Once in-world, all interaction takes place via an elaborate setup of both mouse and keyboard controls, fully customizable. Chat (public and private) takes place on the main screen, and there are a variety of left-click or icon-shortcut menus and sub-menus.

Payment Model: Entropia's free to download and play, but all equipment and skills necessary for all but the most basic involvement must be purchased with Project Entropia Dollars (PED). Users may buy PED at a fixed exchange rate of $1 per 10 PED, or they may earn them in-game (highly challenging with no tools or equipment). The hallmark of Entropia Universe's business model is the fact that PED can also be changed back into real-world currency; theoretically, then, users can earn real money through in-world gains.

Key Features:
-"Real Cash Economy" gives actual value to in-world currency
-"Mentor/Disciple" system allows new users to buddy up with experienced ones for orientation
-Claims over 500,000 users
-Sold five of "the first virtual-world banking licenses" on May 8th, 2007 for a total of $404,000

Useful Links:
Participants' Guide
Developers' Blog
Project Entropia Wiki
Entropia Universe Issues Virtual Banking Licenses
Quest Prize Sells for $10,000