Project Entropia Island Sells for $26,500

While Blizzard cracks down on the exchange of game items for real money in World of Warcraft, Project Entropia has actually employed the concept as a revenue model. They recently auctioned a prestigious island in the game, and the winning bid was 265,000 Project Entropia Dollars, which translates into $26,500 USD. The island is said to have "massive revenue potential" through taxation and the sale of land lots. It's likely the most real cash anyone has spent on a piece of virtual property so far.