of Virtual Game Currency such as the Linden dollar from Second Life, is booming on the internet. With such widespread use, new businesses, organizations and concepts are being created to exploit these young financial worlds. One...
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of Virtual Game Currency such as the Linden dollar from Second Life, is booming on the internet. With such widespread use, new businesses, organizations and concepts are being created to exploit these young financial worlds. One such business is Ginko Financial. Ginko takes advantage of the excess deposits of Linden $s quietly sitting in players accounts. offer a savings account with a daily yield and allows players to make money on their spare L$s. Once deposits have built up, they loan out the Linden $s to other suitable users and charge a higher rate. operation is similar to a bank, however, these being virtual dollars no regulation is required. The system is quite successful and currently there are over 100,000,000 (million) Linden $s on deposit with Ginko Financial. The exchange rate for the Linden $ is actually published by Reuters. nice gentleman by the name of Adam Reuters is Reuters bureau chief in Second Life. Well, his real name is is Adam Pasick, and he is a a veteran tech and media journalist. Adams desk is a very informative and up to date section. Take a quick look here At todays exchange rate the 100 million in Linden $s on deposit at Ginko is worth about $375k in USD. Not bad for a virtual world. type of real world financial applications being applied to a virtual world should be on the rise in the coming months and years. It seems possible, that today early in this industrys growth, there may be a lot of big opportunities for knowledgeable entrepreneurs to establish business links between the virtual world and the brick & mortar financial world. there is some opposition from the game companies to exchanging virtual currency into fiat money, there does not seem to be any opposition to loaning out the V$.
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