Understanding the Second Life Marketplace

Second Life is a popular 3D open world where people interact, create and generally ‘do their own thing’. Its craters and fans have been adamant about not classifying it as a game due to there being no objectives to achieve, each person’s experience is based on how they want to experience the virtual space. One of the most fascinating things about Second Life is its role as a pioneer in virtual economies. This guide will provide a brief introduction to the famed marketplace.

How does one transact in the Second Life marketplace?

Second Life has an official centralized virtual currency known as Linden Dollars – named after Linden Labs who developed and maintain the virtual world. Through a virtual exchange, the LindeX, real currency can be traded for virtual currency – and vice versa.

Is the market place regulated?

Second Life’s biggest selling point is the unstructured nature of every ‘resident’s’ experience. As such, there is very little in terms of regulation in the marketplace. However, a user needs to verify their age to gain access to items that have been tagged as ‘adult’ or ‘mature’. Similarly, users are allowed to flag marketplace listings that are misleading or outright fraudulent.

What type of items are available?

The options are almost limitless when it comes to what you can buy on the Second Life marketplace. How you choose to enjoy the virtual world determines your needs, and, when there is a demand for something, someone usually has it on sale. On the marketplace, one can buy avatar enhancements, houses, cars, real estate and an ever-expanding list of virtual services.

Can you be a seller?

Yes, you can. In fact, there are users whose main role in the virtual world is entrepreneurship. The only requirement for setting up a shop is having an account that is more than five days old, and verifying your payment details. After that you are free to offer your virtual goods and services to other residents.

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