![]() ![]() It is informative to analyze why Second Life has introduced its own currency and free convertibility to real currencies. At the same time, Linden Dollars can be earned within Second Life by selling virtual goods. Second Life, for instance, installed a currency exchange that is called “LindeX.” Users can easily exchange real money into Linden Dollars and vice versa. It has to be defined how the virtual currency can be acquired, for instance, by buying the virtual currency with real money or by earning it within the world. In addition, an efficient payment mechanism has to be installed within the virtual world to make transactions possible. Second Life has introduced Linden Dollars Cyworld trades in Acorns and World of Warcraft users pay for their transaction with virtual gold. ![]() The concept of a virtual currency has to be created to allow for trading within the virtual world. Avatars (virtual personalities) build virtual houses, purchase virtual goods and engage in electronic transactions.Ĭonducting business in these virtual worlds is only possible by implementing an efficient payment environment, which includes the introduction of a virtual currency and payment mechanisms. Second Life is a prominent example - with a registered user base targeting the 10 million mark. During the last few years, so-called virtual worlds have evolved.
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