Prof debunks MindArk hype; causes CEO tantrum

Not sure how we missed this bit of juicy drama, so forgive us for the weeks-old nature of this post in advance, please. A chronological format works best:

• MindArk creates major media buzz with its announcement that they would allow players to draw money out of their Project Entropia accounts with a new debit card. We admit, it sounded novel, so we published our own uncritical account of the news.

• Wharton Professor and Terra Nova blogger Dan Hunter took a step back to ask whether the big news was really as fantastic as MindArk made it out to be. He analysed the deal then concluded, "Hey, guess what? This new frontier in virtual currency is...wait for it...a co-branded debit card." He went on to state that previous MindArk press releases, upon further analysis, appear to be "nothing but bullshit."

• MindArk's CEO throws a fit, sending a nasty email to one of Hunter's bosses at Wharton, accusing Hunter of "spreading slander."

• Hunter blogs it. Awesome.

As Terra Nova commenter Peter wrote, "Someone should have told [MindArk CEO] Welter his god-mode is limited to [Project Entropia] alone...."

See also: Aleks Krotoski's take, Daniel Terdiman's summary.