Just read in the Official blog of those that cannot be named (aka LoL – thank you M2 for the acronym) that the buying price of private Islands will go down from US$ 1,650 (plus VAT if you are European based) to US$ 1,000 on the second quarter of this year.
After reading the comments on the post and done some thinking – which I normally don’t do hehehe – there are pros and cons on this, once again, sudden announcement.
More issues can also emerge from it, from the mainland prices mentioned in the statistics, to the “cleaning” LoL is doing in mainland. But I’ll stick to the virtual reality I’m familiar with.
Pros
- People who wanted to buy land can now do it with less effort than we land owners did *gasps* 2 months ago
- People who buy land are more pron to be committed to the metaverse owned by LoL, thus assuring and increasing the LoL monthly income – and they are, after all, a company who needs to profit from its activity and not a charity institution for those who want to have a good time online
Cons
- The community is already p****d off with LoL due to its recent policies, from the VAT applied to Europeans to the new trademark policy
- Lowering the prices of the islands will make lots of land businesses to go bankrupt. People who invested real money (we are speaking of the green bills, not the virtual currency) expecting a profit on land sales will now be forced either to sell it bellow cost or just wait till the market prices go up again, loosing money either way.
- Many of the present landowners will once again feel disregarded by LoL and may sell and leave S*d L*e
- Some of the residents that recently ordered an Island and didn’t got it yet will for sure drop the order now – either by opening a cancellation ticket or simply by ordering no payment to LoL to their credit card companies or Paypal. Thus the income previewed by LoL for this month sales will be under the forecasts and will probably make them loose some thousands of US Dollars
- As for the World of LoL economy, it will also suffer from this measure. People will buy islands mostly for business. Even if it isn’t for profit, most of us want at least to recover the investment and have some extra Lindens to pay the monthly tiers and the events hosted at the place. With an expected increase in the number of islands, the shops, malls, clubs, which are already more than the market stands, will be in an even higher number. With offer being above demand… you don’t need to be an economy expert to figure what will happen.
I’m gonna wait for the next developments and I do honestly hope that LoL didn’t shoot its own foot again ’cause, in spite of everything, it is still great to live in their world with our imagination :0)