While the real-world markets take a nosedive, a virtual world’s economy is on the up and up, and its parent company is reaping the rewards. Second Life, the user-generated virtual world, generates almost $100 million in revenue a year, according to a new report on LAUNCH. A “company insider” says that Linden Labs has grossed over $75 million per year for the past three years and the company is profitable.
But this isn’t just another nine-digit number in the sea of Web business news. Linden Labs, the parent company of Second Life, simply charges fees on financial transactions. Its revenue comes from an entirely user-generated economy built on real estate, virtual goods and services. Yes, there’s also a sex industry.
Article source: RRW http://feedproxy.google.com/~r/readwriteweb/~3/QWCuU8JX8OU/second_life_makes_100m_a_year_in_revenue.php