Watch the trailer, which just went up on GameTrailers.com after being shown at GDC. It shows a PS3 service from Sony called “home,” which is, yes, a free 3D online space where you’ll be able to customize your avatar and your own private home, hang out with other users there and in various common spaces, stream your media into your virtual pad (as in Kaneva), and chat via voice, emotes, short pre-loaded phrases or with a USB keyboard, as well as hook up with other people and follow them into PS3 games. In terms of pushing the metaverse out to the mainstream, this is pretty huge news.
beta testing starts April 2007
• virtual real-estate sales
• in-world interactive games
• latest Havok physics
• in-world HD video
• dynamic lighting
• customizable avatars
• VoIP
• downloadable furniture and objects for purchase
• free to PS3 owners
Source: 3pointd
APLINK - itsReal 
Very cool design! Useful information. Go on!