Virtual Currency Exchanges: Money Exchange in Virtual Reality.
Linden Lab is the producer of Second Life, an online world with a growing population of subscribers (or "residents"); currently, the community has well over 140,000 residents from 91 countries. By providing residents with robust building and scripting tools, Linden Lab enables them to create a vast array of in-world objects, installations and programs. Since its early stages, Linden Lab has allowed its residents to retain full IP rights over their own creations, thereby insuring that their contributions to the community remain truly their own.
Korea-based CyWorld.com comes to USA, focusing initially on late-teen-to-early-20's females. CyWorld sells $300,000 a day in virtual currency and get 100,000 video uploads per day (vs. YouTube's reported 65,000 per day). Here's an overview video...
Here's a video from a company that is running casinos in virtual reality. All transactions are carried out in the Linden Dollar. Linden Dollars (L$) may be bought and sold on the Second Life website. Current exchange rate as of 02/07 is 267 L$ to 1.00 USD.
Bookmark www.VirtualCurrencyExchanges.com as a great source of information on the emerging world of virtual currencies. Already, an economy is blooming in virtual reality - where real hard currencies are being spent. Virtual currency exchanges will cover news items and other resources to track this growing phenomenon.