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.
Flickr, Make a Slideshow & Gallery of other People’s Photos
October 10, 2009 By
You can now create slideshows of other people’s photos in Flickr by using the new Gallery tool. Whereas the Collection and Set features lets you organized your own photos, the gallery option lets you collect photos from other Flickr photo-streams.
Second Life’s Virtual Economy Makes $500m Per Year
September 22, 2009 By
Patrick Hoge, writing in the San Francisco Business Times, reports that Second Life “residents” have spent more than $1 billion in transactions to date and spent 1 billion hours logged into this virtual world. Facts 1. In 2008, Second Life users spent $360 million on virtual goods ranging from land (virtual real estate) to designer […]
Fotolog to Sell Virtual Goods to 27 million members
September 22, 2009 By
Viximo, a developer of virtual goods solutions for social networking sites, has partnered with Fotolog, the world’s most popular photo-blogging site. Fotolog intends to use Viximo’s technologies to offer virtual goods to its 27 million members. How does it work? Viximo’s software will provide a virtual gifting experience for Fotolog’s users in combination with Viximo’s […]
Virtual Rentals are the new business model for Social Networks
September 20, 2009 By
Reuters note that Asia is also a playground for a range of virtual business models such as rentals.
Real Estate Prices Collapse in Virtual Worlds due to Real World Recession
September 17, 2009 By
Reflecting the fall of property values in the real world, it now seems that the price of real estate in Virtual Worlds is also collapsing.
Second Life to serve as Virtual Learning Model at University of Texas
September 16, 2009 By
Linden Lab, the Makers of Second Life, have rolled out the first virtual learning environment in the world at the University of Texas.
Asia’s top Social Networking Site Makes 830m USD from Virtual Goods
September 16, 2009 By
Reuters report that Asia’s social networking sites appear to have solved found lucrative ways to leverage profits from their online gamers. Asians spend an estimated $5 billion a year on virtual purchases via websites such as Qzone, Cyworld in South Korea and mobile-phone based network Gree in Japan, according to Plus Eight Star.
What Facebook can learn from Asian Social Media Business Models
September 15, 2009 By
What Facebook can learn from Asian Virtual Goods Business Models
Linden Research/Second Life Sued by Virtual Goods Maker
September 15, 2009 By
Kevin Alderman, who sells virtual goods in Second Life, has sued Linden Lab for allowing other to sell his products without his permission.