Making money online with virtual real estate

Posted on April 10, 2007
Filed Under Money |

Second Life logoIf you want to invest your money properly then buy land because they don’t make any more of it. Or do they? With the advent of computers and the Internet much is changing in economics. A game created almost 3 years ago has become one of the most popular destinations online where people live a virtual life. The game is aptly named, Second Life and it is developed by Linden Research Inc. Second Life is a 3D world where people can live a virtual life with all the amenities of a real life including buying and selling real estate.

The currency used in the game is called Linden dollars, and the exchange rate is around $1 to 275 Linden dollars. The average going rate for land parcels in Second Life is between $100 and $1,000 and players can also buy virtual clothes, furniture, and other accessories from a variety of in-game businesses.

If you think that this is all baloney then think again. There is at least one person who has become a millionaire buying and selling real estate in Second Life and that is Ailin Graef who hit the jackpot in the virtual world. And she is not the only person making a sweet profit on Second Life. Looking at the statistics provided by Linden, there are at least 150 people that make more than $5000 U.S. every month. Sure that is a small number compared to the more than 5 million residents of this virtual universe but how is this different than a real life economy where only a few make lots of money.

Second Life’s virtual world is definitely worth a look for those interested in making money online. The cost for playing the game is $9.95 a month, well worth the investment. Be warned, however, that just like in real life, finding success in Second Life requires lots of work and a high level of commitment.

Second Life screenshot

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