Socially|Mundane: Linden Dollars are Real Money. Proof Positive.

Linden Dollars are Real Money. Proof Positive.

Tuesday, March 04, 2008 |

~ Ari Blackthorne™ |

It doesn't matter what Linden Lab or anyone else says about Linden Dollars. Linden Dollars (L$) are a real world currency. It's as if Second Life, even though a 'virtual world' is like it's own country.

TechNewsWorld has a great article that evaluates virtual currencies and why they are so important to the very survival of the virtual world it supports. So, if you want to know how the virtual economy actually works - in relation to the real world and how Linden Lab requires a stable one to even survive... read the following article. maybe then you'll understand why the Casino and Banking issues are real issues for Linden Lab.

Exchanging Real Money in Virtual Worlds

This solution is cost-efficient for the consumer, as "real world" payment instruments and corresponding costs are also decreased. The consumer feels more closely affiliated with the community as the game character is fostered. Finally, the virtual currency has to be convertible to real world currencies, which allows the consumer to retract the money from the virtual world at any time. In summary, consumers are motivated to use the virtual currency and are retained as active participants.