Look at these amazing numbers! On March 14, 2007, Second Life had just over 34,000 new sign ups. That day pushed their numbers up to 4,618,916 total members. Wow, 4.6 million members.
During that day, the average number of users online at one time was 25,330 members. Lots of money changing hands!!
A typical banking day in Second Life. *http://www.secondlifeinsider.com/
Take a look at March 9, 2007 where the exchange rate was about 270 Linden Dollars to $1 USD:
- Spent $1,484,000 at an exchange rate of L$269.7 to US$1
- Exchanged $236,000 at an average of $9,800 per hour.
- Market buys were $190,000
- Market sales were $45,000
- Limit-limit buys were $1,400
- The busiest time was at 2pm when about $18,000 was exchanged.
- The quietest time was 6am when about $5,000 was exchanged.
Now take a quick look at the six real-world banks that maintain a virtual shop in Second Life such as ING’s Virtual Holland !
Sep. 2005: Wells Fargo is the first real-world bank with a presence in Second Life (SL)
Dec. 2005: Wells Fargo leaves SL, moving its Stagecoach Island to a new platform (see previous coverage here)
7 Dec 2006: ABN Amro becomes first European bank in SL (press release here)
7 Jan 2007: BNP Paribas opens a small test area (post here)
7 Feb 2007: Swiss bank BCV opens its doors in SL (press release here)
21 Feb 2007: ING Bank launches website and blog to get users involved in building what it calls Our Virtual Holland
2 Mar 2007: Danish Saxo Bank announces plans to create trading platform in SL (Reuters article here)
Clearly in such an unregulated environment, there is money to be made from banking and currency exchange.
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