Search Results
EVE Online experiments with virtual democracy
It can be difficult for the most well-meaning of virtual worlds companies to understand what their customers want. But CCP, the company behind the sci-fi world of EVE Online, thinks they’ve solved the riddle: have users elect their own representatives.
OpenSim worlds lure Second Life’s outcasts
For Second Life’s banks, OpenSim grids provide a way to continue on in the field of virtual finance without the need to secure Linden’s approval.
SL banks scramble for survival ahead of deadline
With less than a week to go before Linden Lab’s ban on unlicensed banking goes into effect, the Second Life financial sector is scrambling to cope.
High risks, high rewards in virtual finance
Virtual banks offer interest rates that would stagger a real-world investor, but very little is certain in the risky world of Second Life finance.
VAT rule shifts land ownership away from Europeans
Linden Lab CFO John Zdanowski (aka Zee Linden) shared new details on Monday about Value Added Tax (VAT) for Second Life customers residing in the European Union.
Unable to pay depositors, Ginko ceases banking operations
Ginko Financial ceased banking operations on Wednesday evening after a week of financial turmoil depleted the controversial firm’s reserves and spurred a rush of depositors trying to withdraw their money.
Crisis in Second Life financial sector deepens
A gambling ban, insider theft at the World Stock Exchange and a bank run on Ginko Financial within the past week have combined to threaten confidence in the integrity of the Second Life financial sector.
UPDATE 1 - Second Life bank caps withdrawals amid panic
Second Life bank Ginko Financial briefly suspended withdrawals on Friday before reinstating them with a limit of only L$5,000 per day, fueling concerns that the bank did not have sufficient funds if its customers attempt to flee en masse.
UPDATE 3 - Linden Lab outlaws Second Life gambling
Second Life’s booming gambling sector was wiped out on Wednesday night when Linden Lab, which had taken earlier steps to restrict activity amid scrutiny from real-world law enforcement agencies, prohibited nearly all games of chance.
“There was no precipitating event or investigation that led to this decision. It was a business decision,” Robin Linden told Reuters in an email.
World Stock Exchange hit by L$3.2 million theft
The World Stock Exchange said on Wednesday a former employee used inside knowledge to steal money from the virtual stock exchange’s ATM network, a sum that totaled more than L$3.2 million (US$12,300) according to one person with knowledge of the matter.
Nasdaq boss ponders Second Life stock exchange
Nasdaq CEO Bob Greifeld said on Tuesday he could imagine opening up a stock exchange in Second Life.
“We have actually contemplated it,” he said. “The first life is hard enough, but we’re fans of it and we pay attention to it and we have thought about it.”
Hope Capital shares plunge amid Altman sell-off
Shaun Altman, the developer brought in through a merger to revive the World Stock Exchange last month, said on Monday he is stepping down from his day-to-day role and selling nearly one-third of his stake in its parent company.
Rival Second Life stock exchanges merge
The Metaverse Stock Exchange is merging with the rival World Stock Exchange, which was launched by LukeConnell Vandeverre’s Hope Capital last month but has been beset by technical problems that have frustrated traders and investors.
Comverse demos Second Life on mobile phones
Software firm Comverse Technology has created an application that runs Second Life on Java-enabled mobile phones, along with other software that allows integrated SMS and instant messaging and the streaming of mobile video directly in-world.
Hope Capital launches rival to Metaverse Stock Exchange
Australian entrepreneur Luke Connell — LukeConnell Vandeverre in Second Life — is set to unveil on Friday the World Stock Exchange, an automated trading floor that allows companies to sell shares to the public, taking on the established Metaverse Stock Exchange.
US Congress launches probe into virtual economies
Booming virtual economies in online worlds such as Second Life and World of Warcraft have drawn the attention of a U.S. congressional committee, which is investigating how virtual assets and incomes should be taxed.
