Second Life merchants estimated to rake-in over $1.3 million total every day

7 August 2007

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Posted by:Josh Romero

Looks like the real world is not the only place you can make money.

Lindan Lab CEO Philip Rosedale told Business 2.0 that the scale of trade in his virtual world game Second Life is estimated at over $1.3 million dollars daily! This is achieved by the player’s hawking in-game goods and buying and selling.

Philip also said around 830 of the game’s 200,000 daily players take home over $1,000 a month from their Second Life-based businesses. While that isn’t a whole lot of people in the grand scheme of things, it does show how with enough focus and effort someone can make real dough.

Second Life has its own economy and a currency referred to as Linden Dollars (L$). Though the exchange rate fluctuates, as of February 2007 it is reasonably stable at around L$ 270 to one US dollar. Player’s in this online world can buy virtual clothes, furniture, and other accessories from a variety of in-game businesses.

As reported in late 2006, the virtual world of Second Life has even created at least one real-world millionaire! A lady named Ailin Graef (better known as “Anshe Chung” in-game) who buy and sells virtual property with her Second Life business.

Graef was born and raised in Hubai, China, although she is currently a German citizen. She now runs Anshe Chung Studios with her partner Guntram Graef. The company has a real office in Wuhan, China, and has expanded its workforce from 25 to over 50 over the past year.

She said she believed that the estimated valuation of her virtual assets was in fact somewhat “conservative” and that the actual value may be “significantly higher.” She also owns virtual property in IMVU, There, and Entropia Universe.

In other Second Life commerce news, realtor Coldwell Banker announced it is selling a real house via Second Life. The property is a house in suburban Seattle, and is valued at over $3 million. It will be reproduced in the game to allow potential buyers to take virtual tours.

There have been many of these virtual world’s popping up in recent times, other popular ones in addition to the aforementioned include Active Worlds and the sexually explicit adult playground Red Light Center. — Via GameSpot & Business 2.0

Check out this U2 Concert that was performed live within Second Life!