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Thread: SUCCESS: Entreprenuer earns millions in virtual real estate

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    Default SUCCESS: Entreprenuer earns millions in virtual real estate

    I came across this article today and thought it was a great story about showing that there really is money everywhere. This person did not even have to program anything to become a virtual millionaire. Entrepreneur Anshe Chung Makes A Fortune Selling Virtual Land, Banking and Fashion | Singularity Hub

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    thank you Pete799p i wanted to do the same in 2008 and for my regret i belived my parents and friends like everybody in here i didnt took the red pill back there.

    thank you

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    Anshe Chung is the tip of the proverbial iceberg.

    She is one of the "top 5" land owners in Second Life.

    A bit further down the food chain are people like myself and my wife.

    We earn a modest living in this business, which we have been doing since 2007.

    kirrubi, it is definitely not too late to get in on this.

    I've got the "rough" draft done of my how-to product which explains exactly how to earn real money from fake land.

    The ROI is great but it is a capital-intensive business if you want to get up to the Anshe Chung level.

    The business will never be FASTLANE unless you host your own virtual worlds, which some people do!

    Anyways, thanks for the post.

    Any specific questions anyone has about the business please ask, I could talk about it forever. (rough draft is over 200 pages!)
    "Every person is self-made, but only the successful are willing to admit it." - Micheal LeBoeuf

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    What I thought was so great about this story was how she bootstrapped it by designing virtual clothes. I wish I had this kind of game when I was younger, I would have been all over it. There was actually another article listed under that about a virtual club that earned 200k/yr that was sold for 647K. As far as I am concerned I know my number and that kind of money would get me there.


    Quote Originally Posted by cashflow3000 View Post
    Anshe Chung is the tip of the proverbial iceberg.

    She is one of the "top 5" land owners in Second Life.

    A bit further down the food chain are people like myself and my wife.

    We earn a modest living in this business, which we have been doing since 2007.
    Congrats on your success, that is really cool to have capitalized on the opportunity at hand.

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    hey thanks, and thanks for the post.

    the 2nd article is this one: Man Sells Virtual Real Estate in Online Game for $635,000! WTF? | Singularity Hub

    That was from a different "virtual world" called Entropia. At a glance it looks very similar to the Second Life business model. One key difference is the currency exchange in Entropia is set to a fixed rate, where in Second Life it is a floating rate.

    This quote from the article stood out for me: "Jacobs originally paid $100,000 for the property that would become Club Neverdie, and he did so by mortgaging his real world home. Within a few years Jacobs had paid off that debt and was making enough from Entropia to live comfortably."

    That is a very high-risk move he took and its nice to see that it paid off for him!
    "Every person is self-made, but only the successful are willing to admit it." - Micheal LeBoeuf

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    I would not invest much money or make a long term commitment to this stuff. In the real world, land is needed to live. In the virtual world, people don't NEED land. They can leave the virtual world at any time. They can get bored of the idea of socializing in front of a computer or another virtual reality can pop up to take market share. A small migration away from a virtual world could collapse it. Infinite virtual space can be created and that creates a huge risk.

    Several few years ago there was a major magazine feature on Second Life. It detailed how some of the top real estate owners on Second Life would sell property to someone, then the buyers would be annoyed by prostitutes, solicitations, harassment by multiple unknown users. The buyers would complain and the seller would buy it back at a fraction of what they sold it for. I am not sure if Anshe was accused of this or not. I just remember the story because people were investing a lot of real money into something that they thought would be fun and entertaining, but they ended up with a twisted virtual world that turned into a huge annoyance. It is hard to know exactly what you are getting in a virtual world.

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    Hi JoeV -

    Thanks for your response. As someone who does this for a living, I appreciate hearing what the perception is from people who are not involved in the business. You do raise some good points.

    People dont need virtual land, but they do spend money on entertainment and escapism. The worse the economy gets, the more people seek escapism. That's what the virtual land provides.

    There is definitely a huge risk when the "infinite virtual space" can be created, but it really depends on what you are doing and how you do it. I make money basically renting land out for a profit. The company that runs Second Life can flood the market with more land, but that won't really impact my business. I have customers that have been paying me every week or every month for years now. Literally two, three, four years. Week in week out like clock work.

    The article you are referring sounds pretty negative, but somewhat plausible. I have always maintained that no one should spend any money in Second Life, or any other virtual world, for at least a year after they join. That gives you enough time to get a feel for the place, learn some of the ins and outs, and decide if you like it.

    Its not much different from doing business in a foreign country. If you have never been there before, dont know any of the locals, or know anything about the local customs and laws, you are increasing your investment risks.
    "Every person is self-made, but only the successful are willing to admit it." - Micheal LeBoeuf

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