The bank has repossessed PlayStation Home after discovering that an unlimited supply of virtual sofas does not count as collateral.
Officials arrived at the social world’s central square carrying clipboards and looking for someone authorised to discuss the mortgage. Several avatars responded by dancing. One continued dancing after being informed that this was a serious financial matter. “We’ve assessed the assets,” the receiver said. “There are luxury apartments, expensive outfits and a bowling alley. Unfortunately, almost everything loses its value when the server is switched off.”
Residents were asked to gather essential possessions and leave in an orderly manner. This proved difficult for an avatar whose principal possession was an elaborate dance animation and another who had spent most of his savings on a sofa. The sofa could not be carried through the exit. The receiver explained that the exit was also being repossessed.
One homeowner said he had expected a digital apartment to be a sound investment because the sea view could never be obstructed by new construction. He had not considered the possibility of the sea being removed.
The bank has attempted to recover costs by listing the central square as an open-plan development opportunity. Interested buyers should note that the sun, weather and continued existence of the property are not included.
Residents held a final gathering to discuss their options. With no satisfactory resolution available, they returned to dancing. The bank has since applied to have the dancing stopped. It has been told this requires another server.
