January 21, 2009 - 8:32am
Linden Lab, a creator of the virtual world Second Life, announced implementation of a main action with the aims of expanding the Second Life platform. Acquisition of two Web-based marketplaces for virtual goods, Xstreet SL and OnRez means putting the latest strategic initiatives together. Moreover, these acquisitions are expected to grow Second Life economy by offering users additional convenience in carrying out virtual goods and services transactions online.
Current global market for virtual goods is estimated to be about USD $1.5 billion a year. Second Life is obviously one of the main players of the market. In 2008, Residents of Second Life have completed transitions for over $360 million on purchases and sales of virtual goods and services.
Mark Kingdon, CEO of Linden Lab, commenting on the acquisition highlighted four initiatives that are playing key roles in expanding company market share: “localizing the Second Life experience in key markets around the world, simplifying the ‘first hour experience’ to broaden consumer adoption, enhancing the platform for enterprise users and building our virtual goods marketplace.”
It had been announced that for the immediate future, Xstreet SL will continue to function as it has with only minor changes. OnRez will also remain active for a few weeks in order to enable users to migrate their accounts and product listings to Xstreet SL.
Current global market for virtual goods is estimated to be about USD $1.5 billion a year. Second Life is obviously one of the main players of the market. In 2008, Residents of Second Life have completed transitions for over $360 million on purchases and sales of virtual goods and services.
Mark Kingdon, CEO of Linden Lab, commenting on the acquisition highlighted four initiatives that are playing key roles in expanding company market share: “localizing the Second Life experience in key markets around the world, simplifying the ‘first hour experience’ to broaden consumer adoption, enhancing the platform for enterprise users and building our virtual goods marketplace.”
It had been announced that for the immediate future, Xstreet SL will continue to function as it has with only minor changes. OnRez will also remain active for a few weeks in order to enable users to migrate their accounts and product listings to Xstreet SL.