Second Life Virtual Property Boom

The Guardian Gamesblog has an interview with Philip Rosedale, Second Life's CEO and Founder. In the wake of last week's virtual property slaying, they discuss the realities of owning something intangible. From the article: "We launched Second Life without out of world trade and after a few months we looked at it and thought, 'We're not doing this right, we're doing this wrong.' We started selling land free and clear, and we sold the title, and we made it extremely clear that we were not the owner of the virtual property. USD$.4m a month is traded directly to world markets in Linden Bucks on Gaming Open Market. That's USD$.4m redeemed, or Linden Bucks turned into US dollars. In May 2005, the total amount traded in-world was USD$1.47 million. There were 1.3 million transactions between 19,500 unique users."

Comments

I have a bridge for sale

[nizo]

Actually I have several dozen, in any shade that you choose.

Re:I have a bridge for sale

[Spy der Mann]

Actually I have several dozen, in any shade that you choose

Yes, but do they run Linux? :)

Sell your real properties...

[mitsui]

and buy the virutal properties before the bubble burst.

In other news...

[Anonymous Coward]

virtual loser boom!

second life?

[tuggy]

second life?
no thanks, i still have to get my first one!

Re:second life?

[IthnkImParanoid]

Having recently gotten a first life, I must say it's not as exciting as people made it out to be. For example, there are no flying cars, and no quicksave feature. I really tried to like it, but until it gets some more features, I'll have to stick to Civilization III.

Re:so..

[nogginthenog]

You've got magic beans for sale? WOW! How much? I'll pay 1 million Linden Bucks!

Does Virtual Greenspan Know About This?

[__aaclcg7560]

I'm sure the virtual government will intervene to prevent the virtual economy from collapsing if the virtual real estate bubble does a virtual pop. There's nothing worse than losing your virtual shirt when owning virtual real estate in the virtual world.

Earn real $$$ for cutting virtual lawns

[Anonymous Coward]

Sod slaying a dragon and possibly dying.

Let me cut these landowners lawns in game!

> wield flymo
You are now wielding a flymo.
> kill grass
You attack the grass with your blade of cutting. You hit! Grass loses 2"
Grass attacks you! You get some mushy grass on your boots.
You attack the grass with your blade of cutting. You hit! Grass loses 1"
Grass is cut!
You earn $5.
>

Amused to Death

[Doc Ruby]

Virtual property is a way for China to completely destroy America's economy. Labor can be directly converted into property, without regard to physical limits, or even investment capital (except living expenses to grow a person to about 14 years). A hundred million Chinese play-workers playing games for property which they sell to American gamers too lazy to play-work for it themselves will sap the Americans' money quickly. And when the Chinese mafia government prioritizes MMORPG development, with their vassal industrialists running the servers, there will be plenty of inside jobs. Just like the Roman Empire outlawed much trade with the more productive Indus valley to keep their trade imbalance under control, America's economy could be threatened by removing all limits to American dollars flowing to China for virtual property that doesn't increase American productivity.

Re:I don't get it. . .

[stinerman]

I get your arguement, I just don't see the point in shelling out money to get +10 against Orcs.