Searete LLC (Bellevue, WA)

A method and system provides for the utilization of credit agreements in virtual environments. Participation in credit transactions which are based on virtual goods, virtual services and virtual objects can be performed by the user. A feedback is given to the user on the results of the credit transactions. In certain scenarios, multiple users are able to make purchases or incur simulated credit obligations that are posted to virtual accounts, and the multiple users can also make simulated compensation against the outstanding balances or obligations for the accounts. Users are also given the option of engaging in real-world financial transactions related to the virtual credit agreement. In certain versions of the system and method that allow multiple participants from various locations can utilize virtual charge accounts and/or real-world financial accounts connection with arranging or resolving a virtual credit transaction. One aspect makes virtual charge accounts available for use in a fictional environment, wherein a billing statement imposes various fees which could be assessed in fictional money as well as real-world currency or even non-monetary fictional value tokens.

Financial systems in the modern world have many methods of buying things that are worth it. Utilizing credit cards, debit cards and checking accounts to conduct financial transactions is a typical method to make purchases without having to exchange cash or currency.

Virtual world environments often include imaginary characters that participate in fictional actions, events and transactions. There are educational as well as entertainment benefits to creating innovative and challenging ways to relate virtual worldenvironments with real-world experiences.

The various embodiments discussed herein offer an apparatus and method of creating credit transactions within an imaginary world where a virtual charge account service is made available to a participant in the fictional world environment.Virtual transactions can be accepted and credited to a virtual credit account when purchasing activities are conducted in the fictional world and a bill statement could be sent to the person who has the credit card virtual.

A billing statement may be authorized to be sent to the participant’s actual address depending on the circumstances. Additionally, a billing statement could be permitted to be sent to an imaginary world address of the participant.

One aspect offers a virtual account service that can be utilized in a fictional universe. A billing statement can charge various fees to the participant who has purchased the virtual account. These virtual charge account charges can be calculated in fictional money, real-world currency, or in non-monetary fictional world value tokens.

Some embodiments can be implemented in a computer product which includes one or more computer programs for executing a process providing the virtual account service within a fictional environment. This permits a fictionalworld transaction to be processed using a virtual credit card. A bill for the charges due for an authorized transaction in a fictional world is sent.

Other functions can be integrated in a system for processing virtual credit transactions, which provide an imaginary world in which the virtual transaction could involve a purchase activity. A virtual credit account could be accessible for purchase transactions in the fictional world. The system has an account in the database to track the purchase transaction and an output device which can be connected with the database record to communicate obligations arising out of thepurchase activity to a person/entity accountable for virtual credit account obligations.

One of the embodiments includes an output device that sends an invoice in a virtual world to the entity or person accountable for the payment obligations of the virtual credit card account. The output device might transmit a billing statement to the individual or entity who is responsible for paying obligations for the credit card virtual account.

The virtual credit transactions which are described herein for illustration, may be concluded and concluded by a variety of people and/or entities depending on the benefits that can be derived from designs and implementations that could be desired by the parties including the credit companies as well as the participants.

The following drawings and descriptions will help you comprehend the advantages, features and additional features of the preferred versions.

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