Second Life in Australia- as Appropriate for Today

The virtual world, Second Life, has famously produced at least one millionaire, but it may take some time for Australian businesses that venture into the new digital universe to realise a return on their efforts.

The population of Second Life has grown to five million since its launch in 2003. The environment shot to prominence last year when it was announced that Second Life resident Anshe Chung had made the equivalent of $US1 million from virtual property development.

According to David Holloway, who operates a news service for Australian Second Life residents, nearly 5000 of the residents are from Australia. Many Australians undertake in-world commerce, such as operating bars and clubs and managing a surf beach.

Second Life has attracted the attention of large Australian corporations keen to learn from the virtual environment, including Telstra, the ABC and the web technology company Hyro.

Australian entrepreneur Luke Connell has taken a more immersive approach to his activity within Second Life, launching a virtual stock trading system for Second Life-based companies, called the World Stock Exchange. Connell only became a member of Second Life in December after hearing about Anshe Chung's success in property development.

"In the first 25 days the World Stock Exchange has had more than $US200,000 in volume on the market, which is huge," Connell says. "That means Hope Capital made 3 per cent on that -- more than enough money to cover my wages."

I remember when Second Life first came out, and I am already astounded at its impact and popularity. I found this article in an Australian News source, and the impact became even more evident. The World Wide Web really does allow people from all over the world to interact. I think it is even more amazing that Luke Connell established a Stock Market in Second Life! In an alternate life, we could all be millionaires!