One year ago today I signed up for a virtual world called Weblo. At the time the site was just getting started and I thought it would be a good time to get in on some deals. The basic premise of the site is that everything in the real world is up for grabs in this virtual world… for a price. For example, you can buy and be the owner of a state, celebrity, or company. Once you own these assets, you make money based on how many people visit your city/celebrity/company’s page. Or, you can sell these assets to other people.
Well, I deposited $20 and bought Michael Jackson, Neil Armstrong, Negril (Jamaica), and Phnom Penh (Cambodia). I spent $13 to get these assets. I wasn’t surprised to realize that this site was practically a fraud. Although the money being payed and received is legit, the liklihood of people actually doing well on this thing is low. Plus, the whole concept is quite lame; but I was hoping that I could take advantage of it.
Almost a year had past and all of my assets produced a total of $0.29. I had long since given up on making any money through Weblo. However, last week I received my first offer; someone wanted to buy Negril for $10! I jumped at the opportunity and sold it. A couple of days later, that same person wanted to buy Phnom Penh for $20! Wow, I had just made my money back and then some. Again, a couple of days later, the same user offered $2 for Michael Jackson and $2 for Neil Armstrong. This time I counter-offered and said he could buy them for $4 each… and he did :). So, in a matter of a week, what I thought had been a bad investment of $20 ended up turning into a $23 profit (after fees). I doubled my money.
Now that I’ve made money am I planning on buying more assets or am I recommending that you give it a try? NO! I’m pretty sure this was just pure luck. There actually seem to be people making money on the site but only those who practically own everything already (kinda like real life). I’ve cashed out and will use my $43 for something worth while–maybe my first deposit in my new high-interest savings account.
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7 Comments
Yeah! I definitely try to stay away from all money-making schemes on the internet. Majority are probably scams!!
First of all congrats to you for getting profit for that investment which you believed as dead. Even i would like to try this virtual world.
I have heard of Weblo before, but didnt tried and as i wasnt on for the virtual world thing. Now I am thinking of giving it a try.
haha have you seen secondlife yet?? if you are going to be investing in a virtual environment you can make some cash in secondlife. I dont mess with second life but a few of my friends do.
good read
Mark: I have seen secondlife and the amount of attention it’s getting is incredible. I don’t think I’ll hop on that bandwagon though; I think I’ll still to my firstlife experience :).
congratulations, it its good to hear that you got your money back.
Congrats on making a profit, as minimal as it may be. And at first I thought you were referring to Second Life. I took a class about how to create an e-commerce business on Second Life. Needless to say, I have not.