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Second Life is a virtual world developed by Linden Lab that launched on June 23, 2003 and is accessible via the Internet. A free client program called the Second Life Viewer enables its users, called Residents, to interact with each other through avatars. Residents can explore, meet other residents, socialize, participate in individual and group activities, and create and trade virtual property and services with one another, or travel throughout the world, which residents refer to as the grid. Second Life is for people aged 18 and over, while Teen Second Life is for people aged 13 to 17.
Second Life has an internal currency, the Linden dollar (L$). L$ can be used to buy, sell, rent or trade land or goods and services with other users. Virtual goods include buildings, vehicles, and devices of all kinds, animations, clothing, skin, hair, jewelry, flora and fauna, and works of art. Services include camping, wage labor, business management, entertainment and custom content creation (which can be broken up into the following 6 categories: building, texturing, scripting, animating, art direction, and the position of producer/project funder). L$ can be purchased using US Dollars and other currencies on the LindeX exchange provided by Linden Lab, independent brokers or other resident users. Money obtained from currency sales is most commonly used to pay Second Lifes own subscription and tier fees; only a relatively small number of users earn large amounts of money from the world. According to figures published by Linden Lab, about 64,000 users made a profit in Second Life in February 2009, of who 38524 made less than US$10, while 233 made more than US$5000. Profits are derived from selling virtual goods, renting land, and a broad range of services. In March 2009, it has become known that there exist a few Second Life entrepreneurs, whose profits exceed 1 million US$ per year
Some companies generate US dollar earnings from services provided in Second Life. Examples are Languagelife.com, Rivers Run Red and Beta Technologies. This opportunity is extending to normal residents and non-Second Life users via affiliate programs. The total value of these transactions has not been calculated but in 2008 consultancy firms Rivers Run Red and Electric Sheep have reported annual revenues of $6 million.
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