Entropia Universe is a massively multiplayer online (MMORPG) virtual universe designed by the Swedish software company MindArk, based in Gothenburg. Entropia uses a micropayment business model, in which players may buy in-game currency (PED - Project Entropia Dollars) with real money that can be redeemed back into U.S. dollars at a fixed exchange rate of 10:1. This means that virtual items acquired within Entropia Universe have a real cash value, and a participant may, at any time, initiate a withdrawal of their accumulated PED back into U.S. dollars according to the fixed exchange rate, minus transaction fees. The Entropia Universe is a direct continuation of Project Entropia. Entropia Universe entered the Guinness World Records Book in both 2004 and 2008 for the most expensive virtual world objects ever sold. In 2009, a virtual space station, a popular destination, sold for . This was then eclipsed in November 2010 when Jon Jacobs sold a club named "Club Neverdie" for ; this property was sold in chunks, with the largest sold for . The game has been described as dedicated to capitalism rather than quality of gameplay, and connecting the in-game labor with real world profits, in which sense it can be seen as a spiritual precursor to the play to earn model. Entropia Universe economy Entropia Universes in-game currency is the Project Entropia Dollar (PED), which can be purchased for real cash at a fixed rate. buys 10 PED, and PED can then be converted back to cash in some circumstances. PED is used to purchase items in the game, such as equipment, clothing, and property. MindArk charges a 1% fee on withdrawals, and the minimum withdrawal is 1,000 PED (). Gameplay The game can be played for free, but spending money on the in-game currency allows significant additional options like purchasing items, skills, deeds/shares, and services from other players. Nearly all of the main in-game activities require expendable resources which must be purchased. Items can also be crafted for use or for sale to other players. Each player is only allowed one character. Having more than one could cause a player to be banned from the game, losing access to any funds they have spent in the game. Planets Entropia Universe (then Project Entropia) was released in 2003 with one planet, named "Calypso". Starting in 2010, additional planets have been released by MindArk through partnerships with other companies. A second