New Scientist is carrying this report of the auction of an on-line island that went for the cash equivalent of $26,500 real dollars.

"Equivalent" is pretty important in this report, and leads me to a bit of confusion. The on-line game this "property" exists in has what is in effect a genuine currency. You can "buy" more "Project Entropia Dollars" with real dollars, and then (apparently) you can cash them back out for real dollars. So, while it's possible this 22-year-old Australian had the scratch to write a check for this thing, it's also at least as likely he spent "in-game" money he made inside the world.

There's bound to be more to it than this. Allowing currency you "made" in the game to be cashed out in real dollars would to me be a magnet for grifters who are a lot smarter about cash than most programmers. "Bankruptination" would seem to ensue rather rapidly. I'll bet they allow you to pull out money you put in, but not money you made "in-game" over that.

Yeah, I know. I don't have the energy to go look. Children should be classified as bio-weapons. Second cold of the season so far!