Marketing potential of virtual worlds

[hertswebhosting]

Hi,

I would love to get some feedback regarding making a profit from virtual worlds like 'Second Life'

From a personal point of view i tried buying, selling and renting virtual real estate within the game, which i did make several thousand pounds but not enough to justify man hours. Again within Second life i tried out selling Shoutcast music streaming which again made a profit.

When i joined there where around 30,000 people worldwide and now its around 8 million users. The advertising potential is huge and im looking to find new ways to generate another income stream from virtual world micro economies.

[GT Bulmer]

I don't have a solution or a suggestion about making money on sites like Second Life, but I am aware of that community and know that others, like you, have been able to make some money on it.

I haven't used Second Life - I have only watched over someone else's shoulder, but it seems to me that to truly make some money, you might have to create some kind of application or "product" that Second Life users will see as a "must have" for their Second Life presence. For example, some kind of super-duper clothing, or a tool or device their SL avatar can use to do something amazing.

It would have to be something truly innovative. I would have to go there to get some ideas (but that won't be any time soon, unfortunately).

GT

[djohnny]

Making such amounts, are they for real? I mean, have heard about Second Life, but can one make real money there?

[hertswebhosting]

Hi djohnny,

I know of three individuals who have made over 1 million us dollars in virtual worlds, so yes if you can find a niche there is a healthy return.

Ansche Chung an avatar in Second Life was the first to earn a million. She now runs a virtual bank within another game called Entropia Universe.

The second John Jacobs 'Neverdie purchased a virtual asteroid in Entropia Universe and players paid to hunt, shop, dance etc. He is also a millionairre from cyber space.

Deathifier another within Entropia Universe purchased Treasure Island, again this was a place to hunt and mine which also turned him into a millionairre.

I am seeing more and more of the big names for example Nike are promoting within these virtual arenas, so i can see a huge marketing potential if i can also find a new niche.