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November 26, 2006Second Life's First Millionaire
Rob Hof
Anshe Chung, the virtual land baroness that I highlighted in my cover story earlier this year, My Virtual Life, has apparently become the first millionaire in Second Life. That's millionaire in real U.S. dollars. Her real-world persona, Ailin Graef, figures her net worth based on her substantial in-world land holdings, cash in "Linden dollars," which can be converted to real cash, as well as virtual shopping malls, store chains, and even virtual stock-market investments in Second Life businesses. As the release explains:
Anshe Chung's achievement is all the more remarkable because the fortune was developed over a period of two and a half years from an initial investment of $9.95 for a Second Life account by Anshe's creator, Ailin Graef. Anshe/Ailin achieved her fortune by beginning with small scale purchases of virtual real estate which she then subdivided and developed with landscaping and themed architectural builds for rental and resale. Her operations have since grown to include the development and sale of properties for large scale real world corporations, and have led to a real life "spin off" corporation called Anshe Chung Studios, which develops immersive 3D environments for applications ranging from education to business conferencing and product prototyping.
I relate this all with a straight face, but I still find it rather hard to believe that someone can become a millionaire through virtual-world creations. No fun and games, indeed.
01:48 PM
Power of Us, Second Life, Social Media, games, gaming, virtual worlds
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Comments
That's amazing. The trick here is how that converts into real life... or better yet, if there is a way to translate between real world and virtual world so that gamers can apply their skills and affect the real world.
Posted by: tim at November 27, 2006 12:16 AM
Hey Rob, just an fyi that we posted a new podcast and video interview with Second Life CEO Philip Rosedale at www.iinnovatecast.com
Posted by: Matt at November 27, 2006 05:56 AM
We have to look beyond what SL is today and see it for what it represents tomorrow.
Websites are static, Second Life is involving and immersive. These online communities and virtual worlds add a dimension to the overall experience that I believe will be the future of the internet.
Perhaps the question we will ask in 5 or 10 years is "Why did companies ever set up websites with a one-page-at-a-time mentality when the opportunity to create a experiential environment in places like Second Life existed?"
Posted by: Michael Seaton at November 27, 2006 12:11 PM
No wait, I can imagine that --
Instead of picking a DVD from a list of DVDs, we'll walk down to the virtual DVD store, using the mouse and ASDF keys and walking around other virtual shoppers.
And when we get there, we'll walk over to the main store console, where we can browse their list of DVDs to find out which aisle our DVD is in.
And then we can virtually walk to that aisle to find out if it's in stock (look, they have 1000 of them!) And use our mouse and ASDF keys to select the book and remove it from the shelf, where we can see how much it costs.
And then we select it, by putting it in a cart or basket around our arm; and then we use our mouse and ASDF keys to walk over to the checker, who virtually sneers at our selection.
Ah the promise of the brave new world.
Sorry, I'm in a snarky mood this morning.
Posted by: Undertoad at November 27, 2006 12:47 PM
Anshe Chung's achievement should not be belittled, and I tip my hat. However, her Second Life empire is somewhat less liquid that the write up implies; her holdings are so vast that she would not be able to sell them quickly, so for now her fortune is still virtual.
In Second Life we are all kind of holding our virtual breathes to see what happens when Anshe Chung does decide to cash out.
At any rate, she has certainly proved that it can be done! Brava!
Posted by: B. Williams at November 27, 2006 12:53 PM
I'm gonna go out on a limb.
Don't get sucked in. Second Life is a flash in the pan. My employer is currently all over - a very big IT services company - but I really don't know why.
It's not going to be the next google or ebay or anything else.
They've been promising virtual reality for abbout 15 years now...
But as long as it's on my screen here - its horribly 2d and now more than a chat room with an avatar.
This will be useful when we can put our brains in jars and wire them up. Until then I advocate going outsite, sometimes.
Posted by: Jason at November 27, 2006 05:38 PM
I agree...
There's just something to be said for fresh air
What's the word I'm looking for ... reality.
Posted by: ashley at December 3, 2006 10:34 AM
Second Life has its believers and skeptics, as you would expect. It certainly will not be all things to all people, but whether it is Second Life or another technology, Metaverse technology is here to stay.
Regarding liquidity, you could argue the same thing about many of the Forbes richest people list. It's not usually cash that puts the billionaires on that list, not surprisingly. Most of their value is tied up in stock, which is a lot less liquid than many people imagine, because at this volume and with their notoriety, they move markets. It's especially illiquid when it is stock is from a company which the billionaire founded/runs.
Posted by: Giff Constable at December 3, 2006 02:22 PM
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