MM

Matt Mihaly

CEO/Founder

Professional Overview



Matt Mihaly is the founder and CEO of Iron Realms Entertainment (IRE), a pioneering company in the development and publishing of Multi-User Dungeons (MUDs). Iron Realms was established in 1995 with the goal of creating high-quality, text-based MMOs. Mihaly, a game designer, executive, and entrepreneur, has significantly influenced the online gaming industry by pioneering the sale of virtual assets and virtual currency.

Key Roles and Achievements



  • Founder and CEO of Iron Realms Entertainment (IRE)

  • Founded in 1995, the company has released several successful text-based games, including:

  • Achaea, Dreams of Divine Lands (1997)

  • Aetolia, the Midnight Age (2001)

  • Imperian, the Sundered Heavens (2003)

  • Lusternia, Age of Ascension (2004)

  • Starmourn (2017)


  • Founder and former CEO of Sparkplay Media

  • Created Earth Eternal, a 3D anthropomorphic MMO with in-browser tech for streaming.


  • Pioneered Virtual Asset Sales (VAS) Model and Dual-Currency Model

  • First implemented in Achaea, allowing for in-game auctions of virtual items and currency exchanges.


Education and Early Career



  • Cornell University: Bachelor's degree in Political Science (1994)

  • During his time at Cornell, he discovered MUDs and became actively involved, notably with Avalon: The Legend Lives where he was a god figure and BatMUD.


Industry Influence and Public Engagement



  • Public Speaking and Consulting

  • Frequent speaker at industry events like Dragoncon, Game Developers Conference (GDC), and Social Gaming Summit.

  • Contributed to literature on game design, including as a technical editor for Richard Bartle's Designing Virtual Worlds and contributing an essay to Lee Sheldon's Character Development and Storytelling for Games.


  • Innovations and Contributions

  • Led a system development allowing entrepreneurs in third-world countries to participate in the United Nations World Summit of Young Entrepreneurs (2000).


  • Online Presence

  • Twitter: Actively shares insights on game design and entrepreneurship. Known for inventing the virtual goods business model and the dual-currency model in online games. [@MattMihaly](https://twitter.com/mattmihaly?lang=en)

  • LinkedIn: Recognized as one of the most knowledgeable individuals in the MMORPG space, particularly with virtual goods sales and game design.


  • Philanthropy

  • Established the Peter Mihaly Foundation in 2022, named after his late brother, to award STEM scholarships to high school graduates in Wisconsin.


Personal Interests



  • Outdoor Adventures

  • Photography

  • Playing with Rescue Dogs

  • Travel

  • Reading

  • Various Types of Games


Contact Information



  • Email: [matt@ironrealms.com](mailto:matt@ironrealms.com)

  • Social Media:




Matt Mihaly’s strategic vision and pioneering innovations have made significant contributions to the MMORPG and MUD genre, establishing Iron Realms Entertainment as a leader in text-based multiplayer gaming.