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August 10, 2007

Bank trouble in Second Life

screen shot of Second Life residents at ATM machine

Interesting article on the Technology Review website about some financial turmoil in Second Life. Second Life has a large and complex economy, with in-world banks and stock exchanges, and millions of Linden dollars (the official currency of Second Life) changing hands daily. According to the article, some SL banks charge interest that would be considered insanely high in the real world, and are proving to be too high even in Second Life. As a result, there's been a bit of a run on some Second Life banks and a call for more (or even some) banking regulation.

Posted by Chris Spurgeon at August 10, 2007 05:48 AM