Abstract
While real world economies may be shaky, economies in virtual worlds keep growing as sites such as Second Life become more and more mainstream. Research firm Gartner Media estimates that by 2011, 80% of Internet users worldwide will be using Second Life (Gartner, 2007). This growing popularity has real world financial implications. On a typical day, Second Life members spend close to $1.5 million on virtual items and virtual real estate transactions (Alter, 2008), and some residents generate six-figure incomes in real world dollars (Hemp, 2006).Second Life is still in an early stage of development, and there are many financial and legal regulatory issues to be resolved. But with these challenges come opportunities; Second Life may be the impetus for a new accounting platform that may bring different practices together and provide new growth opportunities that financial communities have been looking for in the virtual world.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: International Journal of Agent Technologies and Systems
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
