Comments on: Virtual World News: OpenSim Development: Show Me the Money! http://www.slentre.com/virtual-world-news-opensim-development-show-me-the-money/ making money in the metaverse Wed, 07 Jan 2009 10:48:42 +0000 http://wordpress.org/?v=2.3.2 By: Virtual world economy http://www.slentre.com/virtual-world-news-opensim-development-show-me-the-money/#comment-3078 Virtual world economy Mon, 13 Oct 2008 19:47:10 +0000 http://www.slentre.com/virtual-world-news-opensim-development-show-me-the-money/#comment-3078 It is essential to have an economy model for opensim words in order for them to be able to compete with other virtual worlds. No matter how you look at this each virtual world does have an in world payment system so that currency can be exchanged between avatars. Paypal is one way and the most obvious way to fund an avatar account but there are many other possible solutions such as echecks, bank wire transfers and so on. Opensim is looking to enable the economy model for the platform but wants everything to be secure before they release such a module. At the moment there is already an economy module present in Opensim so the groundworkd has been done already. It is essential to have an economy model for opensim words in order for them to be able to compete with other virtual worlds. No matter how you look at this each virtual world does have an in world payment system so that currency can be exchanged between avatars. Paypal is one way and the most obvious way to fund an avatar account but there are many other possible solutions such as echecks, bank wire transfers and so on. Opensim is looking to enable the economy model for the platform but wants everything to be secure before they release such a module. At the moment there is already an economy module present in Opensim so the groundworkd has been done already.

]]> By: Sigmund Leominster http://www.slentre.com/virtual-world-news-opensim-development-show-me-the-money/#comment-2874 Sigmund Leominster Mon, 06 Oct 2008 21:02:38 +0000 http://www.slentre.com/virtual-world-news-opensim-development-show-me-the-money/#comment-2874 Good point, Robbie. You can already switch Linden(R) dollars into your PayPal account quite easily. To do this costs some money - I know Linden Lab and PayPal both take a cut - so someone in the OpenSim world would have to take on the task on making the link between the in-world currency and PayPal. I also wonder whether the reluctance to jump into currency transactions is simply because of the potential complexity. Although it appears simple to a resident to click "pay" and then get their stuff, I suspect there is a fair amount of "backroom work" going on to ensure accounts are debited and credited appropriately, goods are transferred, records are keep, and - when necessary - exchange rates are properly applied. If all these things can be addressed, then it should be no problem to have a "real" economy ;) Good point, Robbie. You can already switch Linden(R) dollars into your PayPal account quite easily. To do this costs some money - I know Linden Lab and PayPal both take a cut - so someone in the OpenSim world would have to take on the task on making the link between the in-world currency and PayPal. I also wonder whether the reluctance to jump into currency transactions is simply because of the potential complexity. Although it appears simple to a resident to click “pay” and then get their stuff, I suspect there is a fair amount of “backroom work” going on to ensure accounts are debited and credited appropriately, goods are transferred, records are keep, and - when necessary - exchange rates are properly applied.

If all these things can be addressed, then it should be no problem to have a “real” economy ;)

]]> By: Robbie Kiama http://www.slentre.com/virtual-world-news-opensim-development-show-me-the-money/#comment-2823 Robbie Kiama Sat, 04 Oct 2008 21:15:53 +0000 http://www.slentre.com/virtual-world-news-opensim-development-show-me-the-money/#comment-2823 Great post, but I am wondering why Paypal wouldn't be a good way of using existing currencies and creating commerce on these new OpenSim worlds??? Great post, but I am wondering why Paypal wouldn’t be a good way of using existing currencies and creating commerce on these new OpenSim worlds???

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