- 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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