The Virtual World
I don’t know if many of you know that “virtual worlds” are being created out on the internet. Two note worthy worlds are The World of Warcraft and Second Life.
These worlds are virtual in that they are essentially a console/game that you login to. Create your own character, go on quests, buy and sell items, build an empire, etc… It’s taking strategy games and simulators to a whole other level.
The interesting part is that it’s creating new opportunities for investment. Take for example the selling of real estate. That’s right, virtual real estate. There have been reports of individuals making over 100K a year in real money buying and selling virtual real estate.
Call this all crazy and outlandish; nonetheless, it’s happening. One argument would be, “Who would buy virtual anything?” Well, we pay for 0s and 1s to be streamed to our house in order to be captivated for hours on end watching TV. What is the difference of someone sitting in front of their computer building their dream home online? Well, I hope these people have another life because their “second life” character might just become their “only life.”
Do note that virtual investments are very risky as there are not that many laws governing it. I think there will be some major developments in this area over the next 5-10 years as this becomes more real. If I ‘invest’ in a bunch of virtual items, what happens if the game gets shut down? There is no protection for me. hmm, maybe I could sue?
- http://www.wired.com/w ired/archive/14.04/law.html
- http://en.wikipedia.org/wiki/Second_Life
- http://www.usatoday.com/tech/webguide/inte…
- http://lindenlab.com/press/releases/04_03_30
A true hero died today. I don’t know much about Dana Reeve other than knowing that she stood by Christopher Reeve through all his troubles. It takes a tough wife to do that.
