Blog #5

INSEAD Knowledge "Capitalism thrives in virtual world: Second Life gives commerce a second chance" Online Posting 22. Oct. 2009 15 Feb. 2010
http://www.youtube.com/watch?v=Aiokl4a1AWI



Before Second Life the online virtual world was a place where you could spend your free time to enjoy some entertainment. Today commerce and capitalism have now entered the online virtual world. It changed when the video world decided to give ownership to others than the creators of assets they created. There is now ownership and trade going on in Second Life. For example when you enter Second Life you can enter a clothing store and buy shoes, accessories, or clothes. The virtual money is real money because of the exchange rate for ownership. The basic idea for Second Life is a place where you can engage in a online community in a more efficient way. For example when you may not be able to physically participate in a work conference you can still have input while being on Second Life.


INSEAD is one of the worlds largest graduate business schools with three campuses in Europe, Asia, and in the Middle East. INSEAD brings cultural ideas from around the world to view different perspectives and all aspects of Second Life. The video was created on October 22nd of 2009. The source can be found at http://www.youtube.com/watch?v=Aiolk4a1AWI. The information given in the video is relevant because it discusses how commerce came to the online virtual world. The video gives information that can help anyone make money.