Second Life Enables Vibrant Virtual Economy With Linden Dollars

Second Life is 3-dimensional online digital world mostly created by its residents. You can buy and sell land and artifacts of this virtual world with Linden dollars. However Linden dollars isn’t virtual. It can be traded for real dollars.

There are several online exchanges for trading Linden dollars with the current going rate of around 266 Linden dollars for one real US dollar. The virtual world boasts a vibrant economy with many users earning their salary from building in second life alone. Around 60, 000, 000 Linden dollars are traded daily.

In November 2007, for example, there are 48,705 users with income from second life. There are 154 users who made over 5000$ dollars in November.

On the other hand there are 400 users who spent over 1,000,000 Linden dollars in November.

Imagine explaining to your grand-father that you are a virtual real-estate developer. You earn a living by developing on a virtual property. And I thought I had problems explaining to my relatives that I develop software products for a living.

Anshe Chung, as many of you know, is the first virtual world millionaire who made real million dollars (USD) by developing on second life. She owns the Dreamland continent.