While the Real estate prices are soaring up high in the sky, why would the virtual estate prices remain at the ground level! Recently, David Storey made it to the headlines for buying a virtual island for $26,500, is it not unbelievable, well, that is exactly why it entered the Guinness World Records.

The virtual island has also been named as the “Most valuable object that is virtual” by the Guinness World Records. The owner of this virtual world is a 27 year old graduate who lives in Sydney, Australia.

“I thought it would be cool to own an island, and I knew I could run it and be able to pay for my play” says David Storey who sounds a wee too excited about his virtual property. The world of virtual goods market is gaining momentum now as there was an increase $0.6 million recorded in the U.S. alone.

While “Pet Society” and “FarmVille” Facebook is creating ripples, no one is aware of the far reaching effects of this new culture. These games rake in a huge ratio of the total revenue collected in the U.S. by the virtual goods.

via:forbes