$335k For Virtual Property, What Bubble?

Club Neverdie

Yes we all may laugh at people spending real money on virtual goods but for some it makes economic sense. Club Neverdie in Entropia is a “turnkey” business that runs itself. Set up as a place of entertainment, it generates cash that more that covers the initial cost of investment and has now attracted investors, one who paid $335,000 for a portion of the club.

Yan Panasjuk couldn’t take out a mortgage for this property so he funded this investment from his own pocket. Yet, when questioned by Forbes as to why he had faith in getting a return, his response was quite optimistic and telling:

“When motion pictures were first invented there were a lot of critics saying that it is a novelty act and it would never amount to anything nor will be able  to make any real money once the novelty wears off – last time i checked Avatar has grossed 2.7 billion dollars world wide. Most recent example is MTV and Internet but then you know those stories well enough. Virtual Universe is the next logical step in world entertainment and although there are a lot of critics and people shaking heads it is here to stay and take its ranks among the greats.

According to the Forbes profile of Mr. Panasjuk, he is a 35 year old software engineer living in Boston who was born in the former Soviet Union.

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