World Stock Exchange facing legal problems?

The Second Life Herald are running a story on the Midas Bank saga, alleging that Midas have done some legal investigations around their issues with the World Stock Exchange, run by Australian Luke Connell (LukeConnell Vandeverre).

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If the issues aren’t resolved and things do go legal, it’ll provide a fascinating test-case for the status of finance in virtual worlds and associated governance policies. We’ve stated numerous times that the state of financial regulation in Second Life is farcical and there doesn’t appear to be an end in sight at this stage.

I attempted to catch up with Vandeverre in-world this afternoon for comment but his status was set to Away for the 30 minutes or so that I waited around.

Pearse’d & Cut – Victorian Menswear

Pearse’d & Cut is an Australian-owned Second Life business that focuses on 19th Century menswear. Owner Edward Pearse offers waistcoats, trousers, hats and shoes and an array of military uniforms.

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The whole get-up is authentic as you’d expect from a business on the Caledon sim. I even picked up a kilt for the hell of it.

Check it out in-world

Telstra and Linden Lab to provide Australian servers?

Over the past 72 hours I’ve had two people contact me saying they’ve heard that Telstra may be negotiating with Linden Lab to have Australian-based Second Life servers. This syncs with some comments made by Telstra’s General Manager, BigPond Innovation, Jason Romney at a seminar I attended this week. There’s no great surprise really – Telstra is Australia’s largest ISP and also has the largest SL investment and anything that improves the lag in Second Life will be welcome.

We’ve contacted Telstra to confirm any further details.

Australian business interest growing in Second Life?

In the next two weeks I’m involved in two separate events that have the same purpose – to raise awareness of the opportunities that Second Life presents. The first has a corporate focus and the panel discussion involves key people from Telstra, REA and the ABC involved in their respective Second Life presences. The second one is also business orientated with a communications flavour.

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In both cases, there’ll be up to a hundred representatives from Australian businesses, most of them medium to large operations with varying understanding of virtual worlds. A while back we wrote about Australian business taking a ‘wait and see’ approach – this may still be the case but there’s certainly no shortage of forums where SL is being presented as an innovation option.

Simon’s community approach

One Australian Second Life resident I’ve met in recent months is Simon Kline. Simon is a very active resident and his approach is one that has made an impact on quite a few others. Essentially, Simon loves creating things for the benefit of the wider SL community. He’s created a great notecard of Australian locations in SL that you may have seen and he’s a regular attendee at ABC Island events.

In conversation a few months back I mentioned to Simon that the available in-world RSS readers didn’t meet my needs and/or were very expensive. Simon mentioned he’d been thinking about creating something like that, and create it he did:

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Simon’s happy to see his creations used to help the Aussie SL community and as one of the beneficiaries of his community spirit, SLOz salutes him.

Check out Simon’s work in-world

World Stock Exchange – the latest controversy

I noticed on SL Reports.net that the World Stock Exchange (WSE) run by Australian, LukeConnell Vandeverre, is subject to controversy again.

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A virtual financial company called Midas Group has declared bankruptcy and alleges that WSE is part of the cause due to not paying a bond payment. There’s been calls made for WSE boycotts and much more.

What this latest drama reinforces is the fundamental problem with the unregulated financial system in SL – why would any serious investor look at a system where there’s no regulation and multiple stock exchanges that publicly criticise each other’s viability? One of the main value propositions of Second Life is it’s freedom, but this is one area where too much freedom may be one of the virtual world’s major pitfalls.

SydSim is on its way

Telstra have announced the development of a replica of the Sydney CBD on their suite of islands. It’s a development with business firmly in mind:

“At SydSim, real world businesses will soon be able to explore the commercial opportunities available in the virtual world, by renting an office or shopfront at the virtual location of their existing real world premises.

This is an opportunity to secure top-notch locations in a 3D virtual skyscape of Sydney’s CBD, and see what sales, marketing and employee collaboration opportunities are available, without the fuss of setting up their own island.”

When we contacted Telstra and asked when SydSim would be a reality, we were told it was already live. All I could find this evening was the start of a build on two new sims: Martin Place and Loftus:

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There’s never been any doubts about Telstra’s commercial focus within Second Life – this is an obvious evolution from the successful land rentals and the recent expansion of two more sims. I’d imagine there’ll be no problems selling the SydSim real estate – the real challenge will be managing lag issues on what is already a popular neck of the woods.

What’s not in doubt is Telstra’s committment to SL – the other Australian Telcos have some major catching up to do in the virtual world sphere.

Check it out in-world

‘The Office’ covers Second Life

With the massive blog coverage on CSI New York’s episode on Second Life, another TV appearance has been overlooked. The US version of The Office had an SL cameo. One part of it can be seen here:

There’s a reason for mentioning this – one of SLOz’s sponsors, Encore Design Group (EDG), was responsible for the build “The Hanging Gardens of Ancient Babylon”. EDG helped us with our modest SLOz HQ earlier this year.

Other info from the press release:

“I have never been more excited than when Dwight and Jim were shown near the welcome center at the Hanging Gardens,” says Kat Claxton, co-founder of Encore Design Group. “I have been a fan of The Office since it first aired, and I watch it every week. When we were informed that the producers of the show had been capturing footage in Mesopotamia, we had no idea how much would actually make it into the show. When it aired and both Dwight and Jim were shown in easily identifiable areas of the Hanging Gardens, we just couldn’t believe it. It’s like a dream come true for us at EDG, and we’re very proud that our build was chosen to represent all of Second Life to a nationwide viewing audience.”

As a side story, the episode of “The Office” that aired on Thursday October 25 had Jim making fun of Dwight for Dwight’s involvement in Second Life. When Jim calls Second Life a game, Dwight corrects him by saying that SL is not a game since it has no end goals, winners or losers. “Oh, there are losers,” says Jim while staring pointedly at Dwight.

But later in the episode, Jim creates his own SL avatar to monitor Dwight’s in-world activities, and his character’s love interest Pam (Jenna Fischer) points out how much attention Jim had spent in making his own avatar look exactly like his real-life self.

The last SL-related scene in the episode has Dwight standing by a kiosk in Mesopotamia near a sign advertising something he’d made called “Second Second Life”, which the show’s other characters deride as being yet another step removed from Dwight’s reality.

Real Estate Life – the full story

As promised, we spent a little more time checking out ‘Real Estate Life’, the island launched by the REA Group. There’s a lot of emphasis on space and it’s certainly not a build that has logo saturation – the main building certainly has its fair share but otherwise it’s an understated approach.

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We caught up with Dave Platter, Corporate PR and Internal Communications Manager from REA to ask a handful of questions:

Lowell Cremorne: What was the impetus for the decision to develop a presence in Second Life?

Dave Platter: The web has changed a lot since we got started with our first site 12 years ago. SecondLife represents one possible vision of what the web of the future will look like.

We want to be a part of it so we could better understand how it works. That way we can apply the lessons we learn to our 16 real estate websites.

Lowell Cremorne: You’ve mentioned a primary aim is to engage with the SL community – how do you plan on achieving that?

Dave Platter: Launching the REA Group island is the first step. But in one sense it’s the least important of all. What’s really important is building relationships. So our next step is to spend more time in-world, using the island as a base and perhaps a place for meetings and events. We’re walking with baby steps and we will use what we learn from other Second Lifers to help us decide what to do next.

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Lowell Cremorne: Do you have a timeframe for your committment to Second Life – are there success metrics that would lead you to leaving if they weren’t met?

Dave Platter: At this point the only thing that would cause us to abandon SecondLife would be if we simply decided there was nothing else useful to learn there. But, given the vitality of the community and the innovation the platform displays, there probably is a lot to learn in SecondLife.

Lowell Cremorne: Will the islands have any staffing?

Dave Platter: They won’t have full-time staff for now. It’s not a retail store or even an information booth, although there are some information screens. Rather than waiting on the island for people to drop by, we’ll seek out people, places and events of interest, and also sometimes we’ll invite others to come by.

It’ll be interesting to see how the island fares over coming months – there’s no shortage of near-deserted corporate presences around Second Life. If the enaggement strategy espoused is put into practice, REA may be one of the success stories.

Check it out in-world

Internet Industry Association launches

The old saying ‘if it rains, it pours’ applies in Second Life this week. The Australian Internet Industry Association (IIA) is launching their SL presence tonight.

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IIA Island contains a sizeable sandbox, cafe, freefall platform and assorted buildings. The launch is being held tonight at 6.30pm AEST. The plans for the launch are:

“Streaming music of original Aussie bands is being supplied by MP3.com.au. The artists will be in attendance (as their avatars) to support the launch and mingle with the guests. To coincide with tonight’s launch, a short legal forum will consider legal issues relating to 3D virtual worlds. Nic Suzor and Nick Abrahams are recognised legal experts in this area and have agreed to present at the forum in the Andrew McLaughlin auditorium commencing shortly after the 6.30pm launch.”

I was interested to note one of the key sponsors was Optus – a small foray into Second Life for Telstra’s largest competitor but at least a start.

It’s also worth noting that the AIIA (Australian Information Industry Association) launched in May in a more modest way. So we now have an IIA and an AIIA – and both demonstrate the increasing commitment of the IT industry in Australia to Second Life.

Check it out in-world.

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