Second Life Update: A Virtual World but Real Money

Here’s another interesting article about Second Life in the New York Times today that I read over lunch. I was talking to Chris, Keith and Mel about this on Saturday at lunch (among other things!). It just keeps growing and getting more and more recognition. Now more than 30 well known brands (e.g. Reebok, Nike, Nissan, Amazon and American Apparel) have real estate in this virtual world and are doing campaigns and promotions. Keep an eye on this. This is but an early glimpse of the 3D world the internet is going to become. Use your imagination as to what exponential growth in computing and software capabilities will do to this over the next decade…or two!

http://www.nytimes.com/2006/10/19/technology/19virtual.html?ref=technology

Colin


A few noteworthy exerpts from the article:

“On Tuesday, a Congressional committee said it was investigating whether virtual assets and incomes should be taxed.”

"...these sites meld elements of the most popular forms of new media: chat rooms, video games, online stores, user-generated content sites like YouTube.com and social networking sites like MySpace.com."

“...the flurry of corporate interest stemmed from the 10 to 20 percent growth in the number of people who had gone into virtual worlds each month for the last three years. Though exact numbers are difficult to come by, the figure should top a few million by next year, he said.”

“Linden also makes money on exchanging United States dollars for what it calls Linden dollars for around 400 Linden dollars for $1 (people can load up on them with a credit card). A typical article of clothing — say a shirt — would cost around 200 Linden dollars, or 50 cents. As evidence of the growth of its “economy,” Second Life’s Web site tracks how much money changes hands each day. It recently reached as much as $500,000 a day and is growing as much as 15 percent a month.” This trend would mean about $2.7 billion US dollars a day in just one year from now in/on this site alone!! No wonder major corporations are starting to take notice!

“Some corporate events have been met with protests by placard-waving avatars. And there is even a group called the Second Life Liberation Army that has staged faux “attacks” on Reebok and American Apparel stores. (The S.L.L.A. says it is fighting for voting rights for avatars — as well as stock in Linden Labs.)” I'm sure their talking about voting rights within Second Life, but still - politics are begining to take place withing a virtual world! :) That coupled with the Congressional committee - there will be political bridges to be formed...