Saturday, May 29, 2010
[Google Fast Flip] Second Life Economy At Record High
Sent to you by mlsj12 via Google Fast Flip:
Now you might be wondering what Second Life has to do with media technology, and not much. But Second Life could be use as a venue for performances or evens a means of production in niches like previsualization
Second Life Economy At Record High
The world economy may still be firmly in the toilet but the economy inside the virtual world of Second Life is doing fine. Better than fine, in fact. Q1 of 2010 was a record-breaker. In a post on the Second Life blog, Tom Hall, Chief Product Officer for SL owner Linden Labs, said user-to-user transactions in the immersive world spiked 30% over last year to $160 million, breaking all previous company records. Like most virtual worlds and online games, Second Life uses a "virtual currency," in this case the Linden Dollar. This is an in-game token currency that must be purchased with legitimate moneys and can be used to buy things inside the environment, or converted back into real-world lucre. In-game objects can be bought and sold (and profit can be made) and users can program new objects to sell, from shoes to cars and beyond. The company itself makes money in part by assessing a transaction fee on in-game commerce. Additional high-points for the company included included the fact total sales on Xstreet, the Second Life marketplace, reaching $2.3 million, an 82% increase year-to-year and a 24% increase over the previous quarter. Total Linden Dollars exchanged on LindeX, the in-game...
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Now you might be wondering what Second Life has to do with media technology, and not much. But Second Life could be use as a venue for performances or evens a means of production in niches like previsualization
Second Life Economy At Record High
The world economy may still be firmly in the toilet but the economy inside the virtual world of Second Life is doing fine. Better than fine, in fact. Q1 of 2010 was a record-breaker. In a post on the Second Life blog, Tom Hall, Chief Product Officer for SL owner Linden Labs, said user-to-user transactions in the immersive world spiked 30% over last year to $160 million, breaking all previous company records. Like most virtual worlds and online games, Second Life uses a "virtual currency," in this case the Linden Dollar. This is an in-game token currency that must be purchased with legitimate moneys and can be used to buy things inside the environment, or converted back into real-world lucre. In-game objects can be bought and sold (and profit can be made) and users can program new objects to sell, from shoes to cars and beyond. The company itself makes money in part by assessing a transaction fee on in-game commerce. Additional high-points for the company included included the fact total sales on Xstreet, the Second Life marketplace, reaching $2.3 million, an 82% increase year-to-year and a 24% increase over the previous quarter. Total Linden Dollars exchanged on LindeX, the in-game...
Read full story
Labels: gaming, marketplace
¶ 11:48 AM
