I’ve been meaning to write about this for a long time…Have you heard of Second Life yet? Here is a link that will help: wikipedia.
It is basically a MMORPG (Massive Multiplayer Online Role Playing Game), with a few differences. 2L(second life) gives you ultimate creativity to do and create almost anything you want. The primary difference with 2L is the ability to own the items you create. This includes real estate. Once you purchase property on 2L and build on it, you own the structure, and the design.
From their site:
“Land in Second Life is your blank canvas. Build a dream home, a club, a shopping center, or plant some trees and construct a secluded retreat in the pristine virtual wilderness.”
Here are the ways you can purchase land:
- “First Land” (where available you can purchase your first piece of land at a discounted rate, usually one L$1.00 per meter.
- Buy Land from Residents
- Auctions
- Buy a Private Island
The most fascinating thing about 2L is the economy. There is a real market for what are called Linden Dollars within the game. The exchange rate usually ranges from around $300-$350 Linden Dollars per $1.00 (real dollar). This allows a person that wants to buy something in the game to actually purchase virtual money.
A quick look on ebay shows multiple listings for purchasing Linden dollars for real money claiming that they beat the normal exchange rate. I even found a 2L advertising firm that will advertise your real world business in the game. They claim that Dell, Addidas, and Nissan are all advertising already within the game.
Just recently, the first virtual millionaire was announced: Anshe Chung. This means that she has somewhere between $300-$350 million Linden dollars which she can convert to around 1 million real dollars on the LindeX Currency exchange.
Can you guess how she made her millions of Linden Dollars?? REAL ESTATE! She buys and sells land and real estate property within the game. She even sets her own zoning rules. She has become the Donald Trump of 2L.
Anshe now owns 400+ servers worth of land, and was featured on the cover of Business Week
Are there any real world real estate agents trying their hand at this virtual real estate market? Will we soon see real estate websites that have video tours for property in 2L as well as in the real world?? I guess only time will tell…
One thing is for certain…. things can get a little strange when you’re visiting Second Life!!
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SL is great and the real estate is a Seller’s Market for sure. I recommend it for all real estate patrons.
Nice Post.
That was well said. Always appreciate your indepth views. Keep up the great work!
John