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Virtual World's Top 'Real Estate' Developers

Posted by: Abhijeet Chavan

20 April 2007 - 12:00pm

Several of Second Life's most successful entrepreneurs making real money in a virtual world are "real estate" developers.

"Virtual real estate has been the most lucrative industry from the start. The top land baron, Ailin Graef, became the first Second Life millionaire in November. Some Second Lifers are making a mint off consulting fees from the real-world corporations that are entering the virtual world."

However Randolph Harrison believes that "...sadly SecondLife is a giant magnet for the desperate, uninformed, easily victimized. Its promises of wealth readily ensnare those who can least afford to lose their money or lives to such scam in exactly the same way that real estate investor seminars convince divorcees with low FICO scores to buy houses sight unseen with no money down."

Full Story: Virtual World Rich List
Source: Business Week, April 19, 2007
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No matter how one wanted to organize the ideal city, housing security would be part of it. No community can function effectively if large numbers of its residents are regularly displaced or perpetually at risk of being displaced.
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