Much as the words "financial consultant talking about games" would be enough to send us running at full speed into the nearest brick wall to avoid having to listen to them, one of these strange breed of creatures has been taking a close look at he economy going in within the virtual walls of Second Life and has come up with some interesting views on how financial life is evolving in the game.

Linden Lab?s virtual world -- a much-hyped online amusement arcade of cartoon porn, avatars of IBM executives and frog bands -- has an annual GDP of about ?220m, according to Fortune Magazine?s David Kirkpatrick. That?s only the size of the economy of Guinea-Bissau, one of the world?s poorest countries, but pretty impressive for a virtual economy, no? No. Many transactions within Linden Lab?s environment are circular, more akin to stockmarket volume rather than GDP. One would have to take the Benchmark-backed economic ecosystem more seriously if some of the online sexchat workers and other Second Life entrepreneurs could show that their accumulated virtual earnings could truly be converted into real currency. But, as this financial consultant explains, anonymously, withdrawing money from the Benchmark-backed vitual world is about as hard as cashing out of a pyramid scheme

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About Second Life

 

Second Life is a 3-D virtual world entirely built and owned by its residents. Since opening to the public in 2003, it has grown explosively and today is inhabited by nearly 100,000 people from around the globe.

From the moment you enter the World you¡¯ll discover a vast digital continent, teeming with people, entertainment, experiences and opportunity. Once you¡¯ve explored a bit, perhaps you¡¯ll find a perfect parcel of land to build your house or business.