While most consumers tightened their real-world purse strings in 2009, but that did not seem to hurt sales of virtual goods. Users of virtual world Second Life spent $567 million buying virtual goods in 2009. 65% year-over-year increase in spending on user-generated virtual items for avatars. It’s marketplace saw virtual goods sales of $6.1 million. The economy is based on the Linden™ dollar (L$), Second Life’s virtual currency. You can buy and sell L$ on the LindeX™ the official virtual currency exchange of Second Life. In 2008 more than USD $100 million worth of L$ were bought and sold on the LindeX. While Facebook gets the media hype, Second Life generates real money – even though it starts as virtual money. Let’s look at the figures.
This week on the Virtual Currency Report we cover in-game Virtual Goods, Testing Platform for Online Game Developers, why 99c for micro-transactions is a problem, Google Checkout Glitchs, Gift Stores in Facebook, Voice Mashups for World of Warcraft, How Virtual Gifts Generate Revenue, BillMyParents New Payment Options, $5 million Funding for Virtual Currency Developers, Who made 1 Billion in Transactions, and why Virtual Worlds May Act Like Developing Economies. Let’s get started.