Virtual World Entrepreneur of the Year 2010

by Steve O'Keefe on October 4, 2010

Last week, SLentrepreneur Magazine began accepting entries for the 2010 SLentrepreneur of the Year Award, and this year the contest is open to anyone with a Second Life identity. According to publisher and editor, Avarie Parker:

For the first time, I have opened up SLENTRE.COM’s contest for the top Second Life entrepreneur to anyone with a Second Life avatar. The voting this year is not limited to a small list of nominees but voters can ‘write-in’ the name of ANY virtual entrepreneur they feel has had an impact on the Second Life community.

Second Life is the largest online community, dubbed “virtual words,” in an ever-growing universe of synthetic reality. With over 18 million registered users, Second Life is the brand leader. If you are just trying to get your head around Facebook, you might consider leaping past it and building a profile on Second Life instead, because that’s where Facebook and other social networks are headed.

Second Life is part game and part serious business — just like real life. You’re born into Second Life as an avatar (a cartoon you). From there, you must make friends, get directions, and find work if you plan to buy anything like clothes or a house. In Second Life, transactions are made in Linden Dollars, named after Linden Labs, creator of Second Life.

One way of making money from Linden Dollars is to exchange them for real currency. There are complications with any currency swaps, and Second Life has already experienced some serious banking disruptions. But people make real money selling such things as avatars and access to simulated environments.

People also make money using virtual worlds to do real-world activities, such as meetings, in a less expensive and more creative environment. Many companies make presentations and buy advertising in virtual worlds. Many other companies use virtual-world real estate for team projects.

One place to start investigating virtual worlds is Expanding Involvements in Virtual Worlds, an excerpt from the new book MINITRENDS, by John and Carrie Vanston. I also recommend SLentrepreneur Magazine and its website, SLentre.com, for their coverage of entrepreneurship in virtual worlds, including profiles of the nominees for SLentrepreneur of the Year in 2008 and 2009.

Second Life also provides an excellent summary, called Working in Second Life, that explains novel ways to use virtual worlds to save money or make money in the real world. I recommend the 10-page PDF version for a quick download on doing business in Second Life.

STEVE O’KEEFE
News Editor, Minitrends Blog

Source: “Vote for SLentrepreneur of the Year 2010,” SLentrepreneur Magazine, 09/30/10
Source: “Working In Second Life FAQs,” Linden Research, Inc.
Image Source: Second Life Logo, Linden Research, Inc.; used under Fair Use: Reporting.