I’ve never participated in the Second Life craze that has swept the Internet, although I’ve been given a tour by a good friend. What is Second Life? The official answer is, "Second Life is a 3-D virtual world entirely created by its Residents. Since opening to the public in 2003, it has grown explosively and today is inhabited by millions of Residents from around the globe."
According to my friend, you can be who you want to be in Second Life – you can be outgoing and beautiful or shy and plain. I once read somewhere that the participants often mirror their own "real world" personalities – maybe it was a comedian who said "I don’t like you in real life, why would I like you in Second Life?" I never jumped in, but it does look interesting sometimes!
According to Unconfirmed Sources, subprime loans are causing a ripple in the Second Life real estate portfolios.
"The Second Life financial markets are in peril from more than $1 trillion in risky virtual mortgages, we could be just one hedge-fund collapse away from a global online liquidity crisis…"
Isn’t the roller-coaster of real life enough? Of course, one commenter said the whole Second Life mortgage meltdown is nothing more than a joke.
Some of you people are tools…. ITS A JOKE!
I’m laughing, I’m laughing!
Technorati Tags: Second Life, Second Life mortgage meltdown, Second Life real estateAdd to:
Actually, Second Life recently had a big problem with banks collapsing. Considering you buy Lindens with real money, a lot of people lost significant currency in the deal.
"In an announcement that has snuck on to the official Linden blog, Linden Lab has announced that anyone running a bank in Second Life will have to produce "proof of an applicable government registration statement or financial institution charter" or have their content removed starting in two weeks time. This follows the collapse of Ginko, which we covered in exhaustive detail, and complaints that several other banks have defaulted on their 'promises' and are still advertising unsustainably high interest rates (which is, of course, part of their attraction too)."
http://www.massively.com/2008/01/08/linden-lab-cracks-down-on-second-life-banks/
Posted by: Ron | January 8th, 2008 7:10 pm |
more than $1 trillion in risky virtual mortgages
This must be a joke. $1 trillion is orders of magnitude off for the entire size of the game economy even in their L$ game token units, let alone the 1/300 $1USD value.
Linden Research Inc. has succeeded so wildly in their PR hype that the common wisdom about the size of their "virtual economy" is believed to be many times its actual size.
If you take out the churn and economic double counting, the entire game market consists of a handful of hardcore zealot gamers playing with a relatively unexciting amount of money.
Posted by: randolfe_ | January 13th, 2008 12:30 pm |