Economy of Second Life

Economy in the online video game

The online video game Second Life has its own economy and a virtual token referred to as Linden Dollars (L$). In the SL economy, users buy from and sell to one another directly, using the Linden, which is a closed-loop virtual token for use only within the Second Life platform. Linden Dollars have no monetary value and are not redeemable for monetary value from Linden Lab. However, the presence of a currency exchange has led to the Linden Dollar being recognised as a centralized virtual currency, a fiat currency, or property. A resident with a surplus of Linden Dollars earned via a Second Life business or experiential play can offer to exchange with other users via the LindeX exchange provided by Linden Lab. This economy is independent of the price of the game, which users pay to Linden Lab, not to each other. Linden Lab reported that the Second Life economy generated US$3,596,674 in economic activity during the month of September 2005, and in September 2006 Second Life was reported to have a GDP of US$64,000,000.

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