Virtual credit in simulated environments

• US 7,958,047 B2
• Filed: 02/04/2005
• Issued: 06/07/2011
• 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, SAMUEL
• Application Number:
  US11/051,514
• Publication Number:
  US 20060178985A1
• Time in Patent Office: 2,314 Days
• Field of Search: 705/35, 705/38
• US Class Current: 705/38
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• 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
• CPC Class Codes: Y10S 707/95 Financial

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 system for credit arrangements in a virtual world environment comprising:

a virtual charge card server configured to provide a virtual credit account to a user in the virtual world environment;

computerized apparatus including a memory and a processor configured to maintain information regarding a virtual credit transaction in the virtual world environment involving a debt or obligation posted to the virtual credit account, wherein the virtual credit transaction involves one or more purchases by the user of one or more of various virtual products, virtual services and virtual items; and

a bi-directional user interface programmed to exchange informational messages between the user and the computerized apparatus regarding one or more virtual credit account terms associated with said one or more purchases, and programmed to facilitate a transition by the user to an actual financial account from the virtual credit account based on user completion of one or more performance benchmarks in the virtual world environment.

2. The system of claim 1, wherein

the virtual charge card server includes one or more charge accounts associated with a plurality of users, respectively, configured to provide compensation to resolve the debt or obligation posted to the virtual credit account in connection with said virtual credit transaction in the virtual world environment;

and

wherein one or more credit terms for said one or more charge accounts can be established or changed based at least partially on at least one of a user selection, a user demographic, a user performance, a user experience, and a benchmark parameter.

3. The system of claim 2, wherein said one or more charge accounts include different participation levels to resolve the debt or obligation resulting from the virtual credit transaction in the virtual world environment.

4. The system of claim 3, wherein said computerized apparatus enables the user to have an option to move between the different participation levels to provide compensation for the debt or obligation posted to the virtual credit account.

5. The system of claim 2, wherein said one or more charge accounts require completion of performance benchmarks before allowing the user to move to a higher participation level to provide compensation for the debt or obligation posted to the virtual credit account.

6. The system of claim 2, wherein said one or more charge accounts enable the user to vary one or more of the following credit terms:

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

7. The system of claim 1, wherein one or more terms for the debt or obligation resulting from the virtual credit transaction are based on one or more of the following group:

user demographic information, financial account record, experience level, completion of a performance benchmark, role play world activity, and user negotiation.

8. The system of claim 1, wherein said computerized apparatus provides a simulated environment that enables the one or more purchases involved in the virtual credit transaction to be made by a plurality of users at different locations, respectively.

9. The system of claim 1, further including:

a communication link that enables the user to make remuneration of a debt or an obligation posted to the virtual credit account.

10. The system of claim 1, further including:

a communication link that enables the user to make the one or more purchases involving the virtual credit account at different participation levels in a simulated role playing environment.