How To Make Money With SecondLife
Second Life is a 3-D virtual world created by its Residents. Since opening to the public in 2003, it has grown explosively and today is inhabited by millions of Residents from around the globe.
At the end of March 2008, approximately 13 million accounts were registered. In January 2008, residents spent 28,274,505 hours there, so on average about 38,000 residents were logged on at any particular moment.
Second Life has its own economy and a currency referred to as Linden Dollars (L$). Residents regularly create new products and services which they can then buy and sell in the Second Life virtual world. There are also currency exchanges where Residents can exchange real world currencies for L$. Though the exchange rate fluctuates, as of February 2007 it is reasonably stable at around L$ 266 to one US dollar. These exchanges are open markets, except that Linden Lab sometimes changes in world Linden Dollar “sinks” or sells Linden dollars to attempt to keep the exchange rate relatively stable.
A small percentage of Residents derive net incomes from this economy, ranging from a few hundred to several thousand US$ per month, while a larger percentage derive a gross income large enough to offset most of their expenditures in L$. The currency has become the subject of concern in economic circles in regard to possible taxation.
To see how the L$ compares to the US dollar on average you can visit the LindeX Market Data.
How do you make money with SecondLife? Kabalyero recently put together a list of easy ways to ear L$. On the list included:
Get a Job
One of the best way to earn L$ is by getting a job. There are thousands of businesses in Second Life. Examples are banks, clubs, whore houses, stock exchanges, malls, and shops but these are just some of it. These businesses needs manpower to function and business owners are always looking to hire people with the necessary skills to fill up various positions like dancers, greeters, promoters, managers, security guards, escorts, writers, graphic artists, programmers, builders, scripters, texturers and many, many more. If you’ve the skills then find the matching job and apply for it. Remember, not all jobs pay with tips. There are many jobs that pays from 500L$ to 10,000L$ per hour but you have to find them and to help you find these jobs visit Second Life Jobs.
Camp
There are many residents in Second Life who doesn’t want to get a job because of various reasons. Maybe they don’t like working for someone, maybe they don’t have the time for it or maybe they are just plain lazy but whatever their reasons may be they still can earn L$ and that is by camping.
Join Research Panels or Groups
Research Panels or Groups conducts research studies through surveys and the results of these studies are used by businesses both in Second Life and in Real Life. Earning potential from these groups ranges from 250L$ to 10,000L$ per completed survey and sometimes bonuses are awarded depending on the survey.
Do you play SecondLife? Have you managed to make money from it?
Evan CarmichaelYoungEntrepreneur.com Blog Manager
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9 Comments so far
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You can also sell products. I heard that a person sold virtual roller skates for $0.05 USD and made over $2,000.
I’m still a little sketchy on the details but this definitely looks like something worth checking out. Even if for nothing more than education purposes. It’s good to keep up with all they ways people are making money. I becomes more apparent everyday that the possibilities for making money are endless.
Hi,
this article is s interesting. I play 3-D games, I like it very much, but they never give me any favor actually (except the joy when playing). Is Second Life played like any other 3-D games (such like The Sims, Simcity, Singles, and so forth)?
How to play? How the money grows? Do we do some kind of work (like banking, designing graphics, etc) just like we do in real life? How we turn the L$ into real money?
“Selling Products” definately needs to be part of this article or another article by itselt. I recently watched an interview with people who make really good money by selling something(apparel for avatars, furniture, etc) on SecondLife
In World of Warcraft you can also sell the games currency (gold) for actual USD. And there are people who make a living farming it.
Just to clarify for a couple of confused people, unlike world of warcraft, and some mmorpg’s where ingame currency’s are sold, the comapny who run second life, will actually transfer your ingame money (linden dollars i think) to real dollars. Whereas the other mmorpg’s terms and conditions forbid it.
Forget the Money tree surveys. Page after page and then a ‘free’ offer that costs money, ripoff, forget it.
Thanks for the reference to my blog post. I post easy ways to earn linden dollars in Second Life when I find them. Right now, I’m earning some linden dollars from fishing. Yes, from fishing in Second Life.
How do I get the money from second life transferred to US$ cash? That’s the part I haven’t figured out… How do I get the money OUT of the game and into my hand?