Virtually rich

  • A new virtual economy is emerging and it has produced its first millionaire. “Second Life” is a virtual world where gamers can socialise and connect. Within the game users can purchase virtual fashions to dress their character or rent properties for their character to live in using a virtual currency.
  • This virtual currency has real value and one user, Anshe Chung, has transformed her gaming interest into a million dollar business.
  • With millions enrolled online the growth potential for virtual economies is immense.

The concept of a virtual economy raises difficult questions for government regarding its impact on the real economy and how (or if) such an economy should be regulated and monitored.

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About Hayley Shaw

Knowledge Exchange Manager at Cranfield University's Centre for Environmental Risks and Futures (CERF). Sharing the latest news from Cranfield, and insights from across the industry. All things risk, environment, and the future.
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