It has been said that Entropia
Universe is what you make it out to be. It can be your business,
your playground or your social platform. There are those who met in
this virtual world, and then became fast friends in real life. There
is even a couple, Karen and Jetze, who met online in 2011, and
actually got married in real life, even though they were living on
different continents.
And then there is Jon “Neverdie” Jacobs, an actor cum entrepreneur, who mortgaged his home and bought a virtual asteroid for US$100,000 in 2005, and sold it 5 years later for US$635,000.
There is, of course, the rest of us, who play Entropia Universe for all of the above. We socialize a little, have some fun shooting mobs and curse at MA for the poor loots while secretly hoping to hit the big one some day.
If you are reading this, I daresay that while you are having fun playing, you are also looking at Entropia as a business opportunity. You are considering a business as a trader here in Entropia. You may or may not have done any kind of trading before, but are lured by the promise of some easy cash or the prospect of earning a consistent income.
Well, I have been a trader here for a few years. While I am not raking in the big bucks, I am generating a small but consistent income that can support my play and still have some PED left for a little savings and the occasional withdrawal.
So, what can I tell you about being a trader here in this universe?
Let me start by stating that trading is simply not buying at a low price and selling at a higher price. While this might be true of trading at its most basic level, actual trading is a lot more than this and if you expect to simply buy low and sell high the whole day long, you will either be out of business soon or not performing well at all.
Profits as a trader is also not as good as other players might think. I would usually buy ores and enMatters at 1% - 2% lower than the lowest buyout at the auction and sell at 0% - 4% higher than the lowest buyout. My percentage profit would be an average of 3.5%, which is rather poor by everyday standards. But once you take into account the auction commission, I would make only about 1% - 2% profit on each trade.
In other words, if I were to buy a resource for 300 PED, I would probably make only about 3 - 6 PED on the trade.
An aptitude for maths helps too. For example, if you are buying sweat and Force Nexus, making Mind Essence and selling it at the auction, you are going to have to do the following:
And then there is Jon “Neverdie” Jacobs, an actor cum entrepreneur, who mortgaged his home and bought a virtual asteroid for US$100,000 in 2005, and sold it 5 years later for US$635,000.
There is, of course, the rest of us, who play Entropia Universe for all of the above. We socialize a little, have some fun shooting mobs and curse at MA for the poor loots while secretly hoping to hit the big one some day.
If you are reading this, I daresay that while you are having fun playing, you are also looking at Entropia as a business opportunity. You are considering a business as a trader here in Entropia. You may or may not have done any kind of trading before, but are lured by the promise of some easy cash or the prospect of earning a consistent income.
Well, I have been a trader here for a few years. While I am not raking in the big bucks, I am generating a small but consistent income that can support my play and still have some PED left for a little savings and the occasional withdrawal.
So, what can I tell you about being a trader here in this universe?
Let me start by stating that trading is simply not buying at a low price and selling at a higher price. While this might be true of trading at its most basic level, actual trading is a lot more than this and if you expect to simply buy low and sell high the whole day long, you will either be out of business soon or not performing well at all.
Profits as a trader is also not as good as other players might think. I would usually buy ores and enMatters at 1% - 2% lower than the lowest buyout at the auction and sell at 0% - 4% higher than the lowest buyout. My percentage profit would be an average of 3.5%, which is rather poor by everyday standards. But once you take into account the auction commission, I would make only about 1% - 2% profit on each trade.
In other words, if I were to buy a resource for 300 PED, I would probably make only about 3 - 6 PED on the trade.
An aptitude for maths helps too. For example, if you are buying sweat and Force Nexus, making Mind Essence and selling it at the auction, you are going to have to do the following:
- Buy sweat at x PED per thousand bottles of Vibrant Sweat.
- Buy Force Nexus at y% markup.
- Refine Force Nexus and Vibrant Sweat into Mind Essence using a refiner, taking into account the cost of refining in terms of the decay of the refiner.
- Take into account the variable auction commission to determine the price you need to sell your Mind Essence at the auction to get your desired profit.
As you can see, being a trader in
Entropia Universe is not just about buying and selling. You are
going to have to do some work, and use a little ingenuity and take a
little time to figure out how things work before you can start making
some money. You are probably not going to make a lot of money but
you should be able to fund your play in Entropia Universe or
supplement your real time income.
If this sounds like it's right down
your alley, or if you would at least like to give it a try, let's
begin. If you would like something simpler and easier on the brain, you could try clicking ads and completing surveys. If you are more ambitious, you might like to start a simple online business.
But, whatever you choose, if you are
here to make some money, make sure you take action. You may not
succeed the first time, or even the second or third time, but you
would be the wiser for it and be better equipped for success.
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