NCsoft's goal is to bring more and more people into the online gaming market, and part of achieving that goal is to continue to diversify how customers can pay and play," said Chris Chung, NCsoft North America's president. "This system will offer our customers much greater flexibility and convenience in paying for content.

NCsoft rolls out NCcoin, a new micro-transaction system for online games- Austin, Texas - April 16, 2008

NCsoft® Corporation, the world's leading developer and publisher of online computer games, unveiled today the details of a new micro-transaction system called NCcoin™. This system will allow customers to use real-world money to purchase in-game items and upgrades.

NCcoin, debuting in the action-packed game Exteel™, was designed so that each dollar spent (US$1) equates to 100 NCcoin, which can be used to acquire in-game items and for upgrade purchases. NCcoin is part of NCsoft's continuing efforts to offer a variety of business models while giving customers easier access to NCsoft games.

"NCsoft's goal is to bring more and more people into the online gaming market, and part of achieving that goal is to continue to diversify how customers can pay and play," said Chris Chung, NCsoft North America's president. "This system will offer our customers much greater flexibility and convenience in paying for content. Micro-transactions are a growing part of the online gaming industry and NCcoin will allow us to support micro-transaction based games efficiently, allowing developers and players to quickly enjoy the benefits of those systems. We will soon be rolling out more contents that leverage the flexibility of NCcoin."

In addition to Exteel, NCcoin is expected to be incorporated globally into many of NCsoft's existing and upcoming games. NCcoin is currently available in 100, 500, 1000 and 2000 denominations for $1, $5, $10 and $20 amounts, respectively.

For more information about NCcoin go to: http://www.plaync.com/us/nccoin/.

Second Lifer Anshe Chung (aka Ailin Graef), the game's self-described first millionaire, just landed the right to lend money and collect interest in the virtual world of Entropia Universe.

Chung paid PED600,000 or $60,000 for the right to loan shark in the game. Entropia auctioned off six of the "banking licenses" in world. The lowest bid was PED590,608 and the highest was PED999,000.

The other licensees include John Jacobs, who last made the virtual news when he bought an Entropia space station for $100,000, a purchase that happened to coincide with him becoming a spokesperson for the game.

3PointD has the details on how the licenses work:

The licenses promise two years of exclusivity for the five virtual bankers. The licenses continue after that period, but more may be issued once the two years is up. Winners also get the right to help design the building they will do their business out of, on which they will also have to pay an unspecified rent.

To insure everything stays on the up and up, Entropia will force loans to be made through non-player characters that will "work" in the bank buildings. Bank owners will be able to have live staff on hand to help customers through the process, but the loans themselves must be made via the NPC.

A reserve of PED1 million (US$100,000) must be put up by each license winner within 20 days, according to Entropia. It doesn't say whether this must be maintained intact or can be used for the business of banking, however. Bankers will also be forced to pay "a 5% percentage of all interests charged" to MindArk, the company behind Entropia.

Sounds like a license to print virtual money. Brian Crecente

Anshe Chung Wins Entropia Banking License [3PointD]