Virtual credit in simulated environments

• US 20080177650A1
• Filed: 10/12/2007
• Published: 07/24/2008
• Est. Priority Date: 02/04/2005
• Status: Active Grant

• Current Assignee: The Invention Science Fund I, L.L.C. (Intellectual Ventures LLC)
• Original Assignee: Searete LLC (Intellectual Ventures LLC)
• Inventors: Jung, Edward K.Y., Levien, Royce A., Malamud, Mark A., Rinaldo, John D.
• Granted Patent: US 7,890,419 B2
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

A method and system provides for the use of credit arrangements in simulated environments. A user can participate in credit transactions involving purchases of virtual products, virtual services, and virtual items of value. Feedback is provided to the user regarding results of the credit transactions. In some embodiments multiple users can make simulated purchases or incur simulated credit obligations that are posted to virtual accounts, and the multiple users can also make simulated compensation against balances due or obligations owed for said virtual accounts. The user is also provided with an opportunity of engaging in real-world financial transactions related to the virtual credit arrangement. In some implementations of the system and method, multiple players at different locations can use virtual charge accounts and/or real world financial accounts in connection with arranging or resolving a virtual credit transaction.

Claims

1. A method of credit arrangements comprising:

providing a virtual credit arrangement in a virtual world environment that enables a user to have a simulated credit transaction;

communicating feedback to the user regarding results of said simulated credit transaction; and

responsive to the simulated credit transaction, providing the user an option to make remuneration with something of real value against balances due or obligations owed in connection with said virtual credit arrangement.

2. The method of claim 1 that further includes enabling multiple users to make simulated credit purchases or incur simulated credit obligations posted to virtual accounts, and enabling the multiple users to make real-world compensation against balances due or obligations owed for said virtual accounts.

4. The method of claim 2 that further includes enabling the multiple users to make remuneration with something of real value against balances due or obligations owed for said virtual accounts.

5. The method of claim 1 that further includes communicating feedback to the user regarding consequences of a real-world financial transaction related to said virtual credit arrangement.

6. The method of claim 2 that further includes billing said simulated purchases to a virtual account that allows carry-over balances.

7. The method of claim 6 that further includes communicating feedback to the user regarding results of at least one of the following types of information for said virtual account:

non-payment, partial payment, and full payment of balances due.

8. The method of claim 1 that further includes identifying or creating an actual real-world account selected by said user for engaging in one or more real-world financial transactions related to said virtual credit arrangement.

9. The method of claim 8 that further includes communicating to the user consequences of any credit purchases and/or any payments made based on remuneration made from said actual real-world account.

10. The method of claim 1 that further includes monitoring any action taken to make resolution by real-world compensation that is required by said credit arrangement.

11. The method of claim 1 that further includes periodically changing credit terms for said virtual credit arrangement.

13. The method of claim 1 that further includes providing a bi-directional communication link for messages to and from the user.

14. The method of claim 1 that further includes providing a communication link between the user and a virtual world environment having products and/or services and/or other items of virtual value that can be acquired by said virtual credit arrangement.

15. The method of claim 1 that includes enabling a user to make remuneration from an actual real-world account issued by a third party.

16. The method of claim 1 that further includes providing assistance for said user to obtain an actual real-world account for engaging in one or more real-world financial transactions relating to said virtual credit arrangement.

17. The method of claim 2 that further includes issuing an electronic charge card version of said virtual account.

18. The method of claim 2 that further includes issuing a hardcopy charge card version of said virtual account.

19. The method of claim 1 incorporated in one or more computer program products comprising a carrier medium having program instructions thereon.

20. The method of claim 19 that further includes providing communication links to the virtual world environment that are accessible by a plurality of users at different locations, respectively.

3. (canceled)

12. The method of 11 that further includes periodically changing for said virtual credit arrangement one or more credit terms from the following group:

interest rate, due date, grace period, penalties, credit limit, service charge, transferability, weekly fee, monthly fee, annual fee, automatic repayment, payment of other obligations, monetary advance, re-negotiated debt, and exchange value.

21. A method of providing a credit arrangement in a virtual world environment, comprising:

providing a virtual credit account;

enabling a user to make simulated purchases of virtual goods and/or virtual services and/or items of virtual value that are charged to the virtual credit account, in which the user receives feedback regarding results of the simulated purchases; and

responsive to making the simulated purchases and receiving the feedback, facilitating usage of an actual financial account to make real-world compensation against a balance due or obligation owed for the virtual credit account.

22. The method of claim 21 wherein said providing a virtual credit account further includes providing one or more of the following type of virtual financial accounts:

accounts allowing carry-forward balance, accounts requiring full payment, debit cards, accounts with free benefits, accounts with extra-cost benefits, accounts providing discount promotions, cash advance accounts, accounts with beneficial links, insurance product accounts, accounts with value added benefits, business-issued charge cards, financial institution charge cards, checking accounts, lines of credit, vouchers, and promissory notes.

23. The method of claim 21 wherein said facilitating usage of an actual financial account further includes providing access to one or more of the following type of actual financial accounts:

accounts allowing carry-forward balance, accounts requiring full payment, debit cards, accounts with free benefits, accounts with extra-cost benefits, accounts providing discount promotions, cash advance accounts, accounts with beneficial links, insurance product accounts, accounts with value added benefits, business-issued charge cards, financial institution charge cards, checking accounts, lines of credit, vouchers, and promissory notes.

25. The method of claim 21 that further includes allowing said user to have option of using the virtual credit account during given time periods.

26. The method of claim 21 that includes providing different participation levels for usage of said virtual credit account.

28. The method of claim 26 that further includes completion of performance benchmarks before allowing transfer to a different participation level for said virtual credit account.

29. The method of claim 28 that further includes basing the performance benchmarks on one of more of the following group:

credit record of virtual accounts;

credit record of real financial accounts, test results, fictional role playing achievements, fictional role playing skills acquired, experience levels, endorsements by others, group memberships in real world, and group memberships in role playing environment.

31. The method of claim 21 that further includes completion of performance benchmarks before facilitating usage of the actual financial account to make real-world compensation.

32. The method of claim 31 that further includes completion of the performance benchmarks that are based on one of more of the following group:

credit record of virtual accounts;

participation levels of virtual accounts, credit record of real financial accounts, test results, fictional role playing achievements, fictional role playing skills, role playing experience, endorsements by others, group memberships in real world, and group memberships in role playing environment.

33. The method of claim 31 that further includes completion of the performance benchmarks that are based on activities of the user in a role playing environment.

34. The method of claim 21 that further includes providing one of more of the following different categories of purchases available to said virtual credit account:

travel reservations, auctions, food, clothing, merchandise, vehicles, insurance, appliances, furnishings, recreation, competitions, virtual monetary value, real monetary value, installment purchases, entertainment, rentals, education, and fictional role playing items.

35. The method of claim 21 that further includes providing a simulated billing period for said virtual credit account that occurs in at least one of the real-time intervals taken from the following group:

a month or less, a week or less, a day or less, an hour or less.

37. The method of claim 35 that further includes providing the simulated billing period based on a combination of one or more parameters from the following group:

average balance owed, highest balance owed, number of simulated purchase transactions, age of user, education of user, experience level, and benchmark performance.

38. The method of claim 21 that further includes allowing an option to vary one or more virtual credit account terms from the following group:

interest rate, due date, grace period, penalties, credit limit, service charge, transferability, weekly fee, monthly fee, annual fee, automatic repayment, payment of other obligations, monetary advance, re-negotiated debt, and exchange value.

39. The method of claim 21 that further includes programming virtual credit account terms based on user demographic information.

40. The method of claim 21 that further includes programming virtual credit account terms based on past performance records.

41. The method of claim 21 that further includes enabling usage of an actual financial account issued by a third party for a financial transaction to make real-world compensation related to the simulated purchases charged to the virtual credit account.

42. The method of claim 21 incorporated in one or more computer program products comprising a carrier medium having program instructions thereon.

43. The method of claim 42 that further includes providing communication links to the virtual world environment that are accessible by a plurality of users at different locations, respectively.

24. (canceled)

27. (canceled)

30. (canceled)

36. (canceled)

44. A system for credit arrangements in a virtual world environment comprising:

computerized apparatus including a memory and a processor for maintaining information involving a purchase of one or more various virtual products and/or virtual services and/or virtual items;

a bi-directional user interface for communicating informational messages regarding credit terms associated with said purchase; and

wherein said a balance due or obligation owed resulting from the credit terms are capable of resolution by real-world compensation.

45. The system of claim 44 which further comprises:

one or more virtual charge accounts associated with a plurality of users, respectively, for use with said purchase; and

wherein the credit terms for said virtual charge accounts can be established or changed based at least partially on user selections and/or user demographics and/or user performance and/or user experience and/or benchmark parameters.

46. The system of claim 45 wherein said virtual charge accounts include different participation levels.

49. The system of claim 45 wherein said one or more virtual charge accounts enable the user to vary one or more of the following credit terms:

interest rate, due date, grace period, penalties, credit limit, service charge, transferability, weekly fee, monthly fee, annual fee, automatic repayment, payment of other obligations, monetary advance, re-negotiated debt, and exchange value.

50. The system of claim 44 wherein said computerized apparatus includes:

computerized apparatus for maintaining information regarding credit terms based on one or more of the following;

user demographic information, financial account records, experience levels, completion of performance benchmarks, role play world activities, and user negotiations.

51. The system of claim 44 wherein said computerized apparatus includes:

apparatus to provide a virtual environment that enables one or more purchases to be made by a plurality of users at different locations, respectively.

52. The system of claim 44 further comprising:

a communication link that enables a user to make remuneration of a debt or an obligation resulting from the credit terms.

53. The system of claim 44 further comprising:

a communication link that enables a user to make one or more of the purchases in a simulated role playing environment.

47. (canceled)

48. (canceled)

54. Apparatus for providing virtual credit in a simulated environment, comprising:

computerized apparatus for storing and processing one or more virtual credit transactions in the simulated environment;

an interactive communication link with said computerized apparatus to enable a user to participate in said one or more virtual credit transactions; and

an interface capable of operable connection to said interactive communication link and accessible to the user for transmitting informational inputs to provide a basis for credit terms that include remuneration with something of real value against a balance due or other obligation resulting from said one or more virtual credit transactions.

55. The apparatus of claim 54 wherein said interactive communication link enables the user to make remuneration with a real-world item or action against a debt or an obligation resulting from said virtual credit transaction.

56. The apparatus of claim 55 wherein said interactive communication link enables the user to make remuneration with real-world money.

57. The apparatus of claim 55 wherein said interactive communication link enables the user to have an option to make remuneration with fictional-world money.

58. The apparatus of claim 55 wherein said interactive communication link enables the user to make remuneration with a non-monetary real-world item or action.

60. The apparatus of claim 55 wherein said computerized apparatus further includes:

apparatus for maintaining one or more virtual credit accounts that can be established or changed based at least partially on user selections and/or user demographics and/or user performance and/or user experience and/or benchmark parameters.

61. The apparatus of claim 54 further comprising:

one or more computer program products having instructions that enable multiple users to make purchases or incur obligations associated with different virtual credit accounts, respectively.

62. The apparatus of claim 54 further comprising:

one or more computer program products having instructions that enable multiple users to provide compensation with something of real value against balances due or obligations resulting from the one or more virtual credit transactions, respectively.

59. (canceled)