Are There Entrepreneurial Opportunities Existent in the Virtual World of Second Life

Are There Entrepreneurial Opportunities Existent in the Virtual World of Second Life

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This essay examines articles to compare and contrast whether there are entrepreneurial opportunities existent in the virtual world Second Life. A virtual world is a computer mediated environment which can be either be a two or three dimensional simulated environments, where one or more human participants inhabit and interact via their avatars; various features include chat, instant messaging and voice (Multimedia Victoria, Acumentum Pty Ltd, 2007, p.2; Bloomfield, 2007, p. 12). Second Life was launched in 2003 by Linden Lab; the three dimensional virtual world has allowed commercial interaction (Multimedia Victoria, Acumentum Pty Ltd, 2007, p.3) which will be focused on throughout this essay to examine the aforementioned question. The following articles are assessed, Making real money in virtual worlds, Real Commerce in virtual worlds, Would your business benefit from a second life? and Worlds for Study to convey that although there are in-world limitations present for entrepreneurial opportunities when enacted upon, successful commercial achievements are also examined through utilising examples from various in-world organisations.
Avatar appearances and their commercial activities are regulated by Linden Lab, written in the terms of service in the signup process to register into Second Life, to comply with a variety of international laws (Vitzthum, Kathuria and Konsynski, 2009, p.4). This is especially important as Second Life has a virtual currency, the Linden Dollar to facilitate commercial transactions which are exchangeable for real dollars in a marketplace (Multimedia Victoria, Acumentum Pty Ltd, 2007, p.2). Among criticism, is that regulation changes sometimes results in a larg...

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...thical implications in metaverses’, Technological forecasting & social change (0040-1625), 75 (5), pp. 612-620 , Viewed 11/07/2011,

• Vitzthum, S; Kathuria, A; and Konsynski, B (2009), ‘Real Commerce in Virtual Worlds’, ICIS 2009 Proceedings. Paper 22, Viewed 11/07/2011, pp. 2-5,

• Multimedia Victoria in conjunction with Acumentum Pty Ltd, (2007), ‘Would your business benefit from a second life?’, learning from the Melbourne Laneways project, Viewed 12/07/2011, pp.2-5,

• Bloomfield, R, (2007) Worlds for Study: Invitation - Virtual Worlds for Studying Real-World Business and Law, and Politics, Viewed 13/07/2011, pp. 2-17,

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