Virtual Estate Market Emerges

Virtual World Goes On Sale

by Yaroslav Lyssenko

[ 09/25/2006 | 11:55 PM ]

Starting from September 26 with the help of imagination of Weblo CEO Rocky Mirza, and financed in part by former MySpace.com Chairman Richard Rosenblatt, Weblo will offer people a virtual world for the taking.

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TechWeb that the online world of Weblo creates a virtual carbon copy of the real life, down to individual streets in cities around the world. It’s a place where people can become real estate moguls, politicians, or celebrities.

“Anything that exists in the real-world, you can buy it in our online world,” said Rocky Mirza.

The site will offer ways for people to make money through commerce transactions, pay-per-click advertising methods, and online commissions. People will purchase property in real U.S. dollars, paying taxes to the mayor of the town, the governor of the state, and the United Nation of Weblo.

“It sparks creativity and provides a way for people to publish, and it entices people to make money from the real estate they develop online. It’s intimidating for people to think about setting up a blog, but not intimidating for them to purchase something online they have seen and understand in the real world,” said Richard Rosenblatt.

For those who wish to become real-estate tycoons, houses will cost approximately $2 each. All monetary transactions are done in U.S. dollars. Every piece of land, from the United States to Asia, in the real world will go up for sale at launch. California, the most expensive, will sell for $50,000.

• TechWeb: Virtual World Goes On Sale Tuesday.