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  #1 (permalink)  
Old 4th April 2010, 10:57 PM
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WTF?

http://www.ricksblog.com/my_weblog/2....html#comments
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Old 5th April 2010, 12:51 AM
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Re: WTF?

lmao i forgot weblo even existed
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Old 5th April 2010, 12:54 AM
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Re: WTF?

Seems to be some kind of virtual financial game where it appears people have invested and/or are losing real money. First I have heard of this but article below.


http://news.cnet.com/8301-10784_3-6123728-7.html

Weblo's World: A Crazy Online Economy
by Rafe Needleman
Yahoo! BuzzShare

Weblo is an interesting online game that mirrors a few financial aspects of the real world. You can buy virtual real estate (like cities) and collect taxes on developments on your land. You can buy virtual properties on these virtual properties. You can set yourself up as the agent of the virtual version of a real-world celebrity. And you can buy .com domain names inside Weblo's universe.

You buy, of course, so you can sell later, hopefully at a nice multiple to what you paid. Why would somebody want to buy your properties to begin with? So he or she can sell it to the next person, of course. Weblo is a trading game, with a currency of real U.S. dollars. Fortunately prices for Weblo analogs of real-world items are not comparable. For example, I created a record for the CNET building and bought it for about $1.50 (the price included a few pennies of tax, paid to the owner of San Francisco).

I said at the top of this post that Weblo is a game, because that's what it feels like to me. But others would consider it a market, and indeed you can make real money here. Some people, apparently, have bought properties at Weblo's startup prices and flipped them for thousands of dollars. You can cash out of Weblo whenever you want, and transfer your earnings into your PayPal accont.

Because there is nearly a world full of untapped resources on Weblo right now, there's the potential for a real land-grab to start on the system. Un-purchased addresses (like CNET) are less than two bucks. I bought both Adak, Alaska, and Peterborough, New Hampshire, for $5 each. I also tried to buy Alsace, in France, but Weblo figures the prices of states and cities by using an algorithm that incorporates real-world population. Alsace is priced at $1568, well over the $100 that the Weblo PR team fronted me.

If you own a Weblo property, like a building, a state, a site, or the rights to represent a celebrity, you can also develop it -- you can build a Weblo Web page to support it, drive traffic to it from your other Weblo pages or even the "real" Internet. Weblo runs advertising on every page and you'll get a cut of the ad revenues from your properties, as well as a percentage of all properties developed on your real estate (if you're the mayor of a city, you get a taste of all the revenues generated in it). How big a cut you get depends on which of the five Weblo membership levels you're signed up for. Free accounts get 10% of revenues. Top-tier "VIP" accounts ($30 a month) get 50%; paid accounts also pay less for unpurchased Weblo resources.

CEO Rocky Mirza has plans to introduce new resource types. He thinks fantasy sports teams and leagues would be a great fit for his world.

Unfortunately, right now the Weblo site itself is slow, which is not what you want in an online market. When there are fluctuating prices and real money on the line you really need instant response.

I poked around in Weblo and found it strangely rewarding to buy virtual real estate. I'm not holding my breath that I'm going to make any money on these purchases, though. Basically, I think the whole Weblo concept is insane. Mirza has invented an economy from whole cloth. Apparently that's not stopping commerce from occurring, although before investing real money in this economy, I'd want proof of that. And if people are indeed buying into Weblo, that makes Mirza brilliant, not crazy. But I don't know about the rest of us.

END ARTICLE
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Old 5th April 2010, 07:13 AM
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Re: WTF?

So basically. I pay someone to buy and build on an online property that only exists on this website to get 10% PPC that someone may or may not happen to find in the serps while searching for something. I've tried navigating this site and I can't. I've never heard of this site until this nor have I happened upon one of their indexed pages while searching and I'd say I look for things much deeper than the average surfer.

Sounds like the Sims only you use real money. Or in other words, a video game for adults without the sex.

Who gives a shit?
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Old 5th April 2010, 08:09 AM
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Re: WTF?

After the real real estate market collapsed and virtual real estate became scarce people had to invest in virtual virtual real estate.

Moonies... :D
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Old 5th April 2010, 08:40 AM
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Re: WTF?

Quote:
Originally Posted by sarcle View Post
So basically. I pay someone to buy and build on an online property that only exists on this website to get 10% PPC that someone may or may not happen to find in the serps while searching for something. I've tried navigating this site and I can't. I've never heard of this site until this nor have I happened upon one of their indexed pages while searching and I'd say I look for things much deeper than the average surfer.

Sounds like the Sims only you use real money. Or in other words, a video game for adults without the sex.

Who gives a shit?
This was the latest big idea after the dot Mobi craze. Probably already dead when dot Me arrived.

Some people will do anything rather address reality.
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Old 5th April 2010, 09:05 AM
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Re: WTF?

I read this 3 or 4 times and can't decide whether it's an April fools joke or not.

Quote:
Originally Posted by Rick @ Ricksblog

..I have 126 cities. It seems the ones that invested tens of thousands early on are getting screwed the most...
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Old 5th April 2010, 09:09 AM
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Re: WTF?

Quote:
Originally Posted by alpha View Post
I read this 3 or 4 times and can't decide whether it's an April fools joke or not.
I can assure you it is not. I remember him rabbiting on about this several years back. I remember starring at the Heavens back then!

Of course the consolation is that they have Virtually Nothing to Lose.
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Last edited by Rubber Duck; 5th April 2010 at 09:10 AM..
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Old 5th April 2010, 10:37 AM
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Re: WTF?

Quote:
Originally Posted by Rubber Duck View Post
Of course the consolation is that they have Virtually Nothing to Lose.


Except the reality is that it appears that some of these city names and other virtual domains were being "sold" for x,xxx on the secondary market between players. And reading between the lines it appears some invested heavily in this scheme.
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Old 5th April 2010, 10:50 AM
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Re: WTF?

Quote:
Originally Posted by Rubber Duck View Post
I can assure you it is not...
So just a quick recap:

2007 Rick proclaims that all IDN are worthless junk and those that buy any are moonies

2007 Rick advises we all buy Florida real Estate

~2008 Rick buys a ton of Sim-cities



Last edited by alpha; 5th April 2010 at 10:53 AM..
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Old 5th April 2010, 11:30 AM
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Re: WTF?

I read through all the posts on Ricks blog and it seems like some people have spent thousands of $ on some of the cities in there !! What were they thinking ??
I remember reading about Weblo a few years back, and though it seemed interesting at the time - I was lucky enough to step back and realise that its the "real world" where the opportunities are - not a virtual world that accepts payments in "real world money".

I think Sarcle summed it up perfectly with ...

Who gives a shit ?

Alex
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Old 5th April 2010, 12:48 PM
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Re: WTF?

Quote:
Originally Posted by Rubber Duck View Post
This was the latest big idea after the dot Mobi craze. Probably already dead when dot Me arrived.

Some people will do anything rather address reality.


i've always believed that geos are worth money even if they are not used as domains. weblo proves it. lmao
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Old 5th April 2010, 01:40 PM
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Re: WTF?

Quote:
Originally Posted by bwhhisc View Post


Except the reality is that it appears that some of these city names and other virtual domains were being "sold" for x,xxx on the secondary market between players. And reading between the lines it appears some invested heavily in this scheme.
Remember dot Mobi and dot Me?

Somethings never change!
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Old 5th April 2010, 04:30 PM
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Re: WTF?

Quote:
Originally Posted by touchring View Post
i've always believed that geos are worth money even if they are not used as domains. weblo proves it. lmao
Long run's the fox ..
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Old 5th April 2010, 06:06 PM
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Re: WTF?

Quote:
Mizra said the company employs approximately 120 developers in India and Pakistan to codify his bizarro reality as well as other ventures.
One Jose will do a better job.

Why would anyone believe him?
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Old 5th April 2010, 06:22 PM
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Quote:
Originally Posted by touchring View Post
One Jose will do a better job.

Why would anyone believe him?
Thanks touchring. I think the real reason for that is the Farmville competition. It is a much better bet now-a-days:

Lets compare it to Weblo:
1. Hugely bigger user base
2. Better credits<->dollars scheme
3. Much more fun virtual state property development
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Old 5th April 2010, 07:23 PM
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Re: WTF?

Quote:
Originally Posted by jose View Post
Thanks touchring. I think the real reason for that is the Farmville competition. It is a much better bet now-a-days:

Lets compare it to Weblo:
1. Hugely bigger user base
2. Better credits<->dollars scheme
3. Much more fun virtual state property development
I'm glad not to know that either. :D
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Old 6th April 2010, 04:13 AM
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Re: WTF?

Is this Domaining 2.0? :D
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