Category Archives: virtual banking

by aplink | January 10, 2008 · 1:21 pm

Banks inWorld at Second Life – If you SCAM Your Days are Numbered -itsReal

FREEDOM in Second Life, curtailed again by Linden Labs

Virtual world cracks down on cowboy banks

Ginko Financial offered 44 per cent interest but collapsed after a<br /> crash in confidence caused a run on the Second Life bank.

There’s a banking meltdown in Second Life, too.

The world’s creator, Linden Lab, has announced it will regulate
the virtual banks strictly in Second Life from now on, after one
collapsed amid a credit crunch that Linden said posed “unique and
substantial risks to Second Life … likely to lead to
destabilisation of the virtual economy”.

In-world companies such as JT Financial have been inundated by
customers wanting to know what is going on. A screenshot shows a
virtual bank branch packed with customers, as a notice on the wall
says “JTF has not crashed. The system is overloaded right now.
Please stay calm … you will all be able to withdraw your
money.”

Some less scrupulous virtual world inhabitants built “banks” or
“ATMs” that were actually Ponzi schemes: paying high interest rates
using the money of other depositors.

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Tagged as scams, second life, virtual banks, virtual worlds

by aplink | October 27, 2007 · 12:04 pm

First Meta – Aileen Sim – Singapore’s own Succesful Female Entrepreneur in Virtual World’s – itsReal

“…the rise of social networking. Virtual worlds are the ultimate social networking tools, allowing for rich, interactive and immersive communication and experiences. Social networking sites like MySpace and Facebook have grown tremendously popular and I believe that they will spill over into virtual worlds.” comments Aileen Sim of First Meta, Singapore

Read more at SGentrepreneurs

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by aplink | October 20, 2007 · 1:34 pm

Second Life Roundup – itsReal

Publicity from Traditional Media and the Blogosphere continues to pump out, To jump onto the juggernaut just add “Second Life” to your press releases or posts and the world gets to see what you are doing…if you want a serious virtual worlds strategy…speak to me

Click-Image-to-Call APLINK from Big-Bit

Google News Alert for: “Second Life”

Second Life: Clicks and mortar
Telegraph.co.uk – United Kingdom
Adam Edwards enters the lucrative world of Second Life This summer,

a part-time administrator at Oxford University, with no publishing experience and a …

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by aplink | August 19, 2007 · 11:55 am

Seed Money: USD 2mil Funding Virtual-World Innovations – itsReal

By Charles Storch
Chicago Tribune
08/18/07 4:00 AM PT

The MacArthur foundation is accepting applications until Oct. 15 in two categories: one for “entrepreneurs and builders of new digital environments for informal learning,” with prizes of $250,000 and $100,000; the other for “communicators in connecting, mobilizing, circulating or translating new ideas around digital media and learning,” with prizes from $30,000 to $75,000. Winners are to be announced in January.

The John D. and Catherine T. MacArthur Foundation continues to pour money into explorations of digital media and virtual worlds — and we’re not talking Linden dollars here.

The giant Chicago philanthropy is creating prizes totaling US$2 million to recognize innovation in digital media and learning. It also is funding a series of programs at the Second Life Community convention, to be held Aug. 24-26 in Chicago. (For the uninitiated, Linden dollars are the currency of that online virtual world known as Second Life.)

MacArthur said the new awards are part of the five-year, $50 million program it announced last fall to explore the influence of digital technologies on young people’s learning, play and civic participation.

Sad Days at Second Life or is it – itsReal

A bank maybe bankrupt, gambling restrictions need to be explained, enforcement of Linden Labs policies – it is starting to sound like life as we know it. The publicity machine is still operating with little effort from Linden Labs, the media hype is engaging minds worldwide… what really is Linden Labs bracing for us… Continue reading →

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