The only economy that seems to evade inspection is the black market in virtual goods being reported at CNet. eBay banned sales of virtual goods but gave Linden Labs a pass because it is supposed to have a virtual economy that translates to the real economy. There are two problems with that:
- As reported in the last blog, ValleyWag analysts show that the LL virtual economy is a Ponsi game.
- Second Life is a closed system. Owning or selling something there doesn't mean you can actually take it anywhere else.
One gets the feeling that there is some kind of weird shakeout and wakeup call coming in this market. The pundits who have been promoting it will be there to tell they saw it coming all along. And so it goes.