Second Life

Second life is a virtual world, it was invented in 1991 by Philip Rosedale. When a user signs up to virtual world, they can make their own looks, adjust their hairstyles and clothing style. One key feature of Second World is the ability to become and entrepreneur, setting up your won business, whether it be selling property or furniture, clothes etc. At this present time, 9.8 million people use Second World worldwide.

There is the opportunity for big money makers to use Second world to either sell their products or advertise them. Also there is an opportunity for new entrepreneurs to make their million, literally. Anshe Chung owns her own brand of clothing, furniture and properties which has enabled her to be the first person to make over $i million in real money. Second world uses a whole different currency that can be exchanged into real money, and vica versa. It uses the Linden dollar which 500 LD's can be exchanged into £1.

Other virtual worlds include World of Warcraft and a new Lord of the Rings: Shadows of Angmar, there are more and more of these virtual worlds emerging.

The main way in which Second Life makes money is through the selling and renting of various properties. A lot of the transactions made are monthly rent, whether it be for an office, a club or your own virtual properties. One example of one of these businesses is River Run Red, this virtual business sells things office and shop based, then converting their Linden dollars made into their won, real life currency.

A huge amount of money has been invested into virtual worlds, $40-50 million to create these massive multiplayer games (MMO's). This shows that people believe that the virtual world, especially Secong Life, will create more money than real life. It is difficult not to believe them when Secong Life has a stronger democratic economy than we have back.