Virtual credit in simulated environments

• US 7,890,419 B2
• Filed: 10/12/2007
• Issued: 02/15/2011
• Est. Priority Date: 02/04/2005
• Status: Active Grant

• Current Assignee: The Invention Science Fund I, L.L.C. (Intellectual Ventures LLC)
• Original Assignee: The Invention Science Fund I, L.L.C. (Intellectual Ventures LLC)
• Inventors: Jung, Edward K. Y., Levien, Royce A., Malamud, Mark A., Rinaldo, Jr., John D.
• Primary Examiner(s): Kyle, Charles R
• Assistant Examiner(s): Weis, Seth
• Application Number:
  US11/974,515
• Publication Number:
  US 20080177650A1
• Time in Patent Office: 1,222 Days
• Field of Search: 705/38
• US Class Current: 705/38
• 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 non-transitory computer-readable storage medium comprising an executable program stored thereon, wherein the program instructs a microprocessor to perform the following steps:

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;

responsive to the simulated credit transaction, providing the user an option to make remuneration with something of real value against a balance due or an obligation owed in connection with said virtual credit arrangement; and

facilitating a transition by the user from the virtual credit arrangement to an actual financial account, further including;

requiring completion of a performance benchmark in the virtual world environment before facilitating the transition by the user to the actual financial account.

2. The non-transitory computer-readable storage medium of claim 1 that further includes:

enabling multiple users to make one or more simulated credit purchases or incur a simulated credit obligation posted to a virtual account, and enabling the multiple users to make real-world compensation against a balance due or an obligation owed for said virtual account.

3. The non-transitory computer-readable storage medium of claim 2 that further includes:

enabling the multiple users to make remuneration with something of real value against a balance due or an obligation owed for said virtual account.

4. The non-transitory computer-readable storage medium of claim 1 that further includes

communicating feedback to the user regarding a consequence of a real-world financial transaction related to said virtual credit arrangement.

5. The non-transitory computer-readable storage medium of claim 2 that further includes:

billing said one or more simulated credit purchases to a virtual account that allows a carry-over balance.

6. The non-transitory computer-readable storage medium of claim 5 that further includes:

communicating feedback to the user regarding a result of at least one of the following types of information for said virtual account;

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

7. The non-transitory computer-readable storage medium 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.

8. The non-transitory computer-readable storage medium of claim 7 that further includes:

communicating to the user a consequence of any credit purchase and/or any payment made based on remuneration made from said actual real-world account.

9. The non-transitory computer-readable storage medium of claim 1 that further includes:

monitoring any action taken to make resolution by real-world compensation that is required by said credit arrangement.

10. The non-transitory computer-readable storage medium of claim 1 that further includes:

periodically changing credit terms for said virtual credit arrangement.

12. The non-transitory computer-readable storage medium of claim 1 that further includes:

providing a bi-directional communication link for one or more messages to and from the user.

13. The non-transitory computer-readable storage medium of claim 1 that further includes:

providing a communication link between the user and a virtual world environment having one or more products and/or services and/or other items of virtual value that can be acquired by said virtual credit arrangement.

14. The non-transitory computer-readable storage medium of claim 1 that includes:

enabling a user to make remuneration from an actual real-world account issued by a third party.

15. The non-transitory computer-readable storage medium 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.

16. The non-transitory computer-readable storage medium of claim 2 that further includes:

issuing an electronic charge card version of said virtual account.

17. The non-transitory computer-readable storage medium of claim 1 that further includes:

providing one or more communication links to the virtual world environment that are accessible by a plurality of users at different locations, respectively.

11. The non-transitory computer-readable storage medium of 10 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.

18. A non-transitory computer-readable storage medium with an executable program stored thereon, wherein the program instructs a microprocessor to perform the following steps:

providing a virtual credit account in a virtual world environment;

enabling a user to make a simulated purchase of virtual goods and/or virtual services and/or items of virtual value that are charged to the virtual credit account;

providing feedback to the user regarding a result of the simulated purchase; and

responsive to making the simulated purchase and receiving the feedback, facilitating a transition by the user from the virtual credit account to usage of an actual financial account to make real-world compensation against a balance due or obligation owed for the virtual credit account, further including;

requiring completion of a performance benchmark in the virtual world environment before facilitating a transition by the user to usage of the actual financial account.

19. The non-transitory computer-readable storage medium of claim 18 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.

20. The non-transitory computer-readable storage medium of claim 18 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.

21. The non-transitory computer-readable storage medium of claim 18 that further includes:

allowing said user to have option of using the virtual credit account during one or more given time periods.

22. The non-transitory computer-readable storage medium of claim 18 that includes:

providing different participation levels for usage of said virtual credit account.

23. The non-transitory computer-readable storage medium of claim 22 that further includes:

requiring completion of a performance benchmark before allowing transfer to a different participation level for said virtual credit account.

24. The non-transitory computer-readable storage medium of claim 23 that further includes:

basing the performance benchmark 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.

25. The non-transitory computer-readable storage medium of claim 18 that further includes:

requiring completion of a performance benchmark that is 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.

26. The non-transitory computer-readable storage medium of claim 25 that further includes:

requiring completion of a performance benchmark that is based on one or more activities of the user in a role playing environment.

27. The non-transitory computer-readable storage medium of claim 18 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.

28. The non-transitory computer-readable storage medium of claim 18 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.

29. The non-transitory computer-readable storage medium of claim 28 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.

30. The non-transitory computer-readable storage medium of claim 18 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.

31. The non-transitory computer-readable storage medium of claim 18 that further includes:

programming one or more virtual credit account terms based on user demographic information.

32. The non-transitory computer-readable storage medium of claim 18 that further includes:

programming one or more virtual credit account terms based on past performance records.

33. The non-transitory computer-readable storage medium of claim 18 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 purchase charged to the virtual credit account.

34. The non-transitory computer-readable storage medium of claim 18 that further includes:

providing one or more communication links to the virtual world environment that are accessible by a plurality of users at different locations, respectively.