Second life is the one of the largest markets for virtual goods. Total dollars spent on virtual goods in Second Life increased from $30 million in 2005 to $344 million in 2008, then increased to $567 million in 2009. Year to date in 2010, Second Life is up about 30%, on target for yearly revenues of $700 million.
Virtual world Second Life has been laying off workers lately. But don’t count the company out.
Second life has 18 million members, and only a small number of those are active. However, the members who are active spend an incredible amount of time on the site. Active users are on the site an average of 100 minutes during each visit. Some members spend over 12 hours a day on the site.
Regardless of what happens at Second Life, the sales of virtual goods and digital content will continue to soar in the coming years.
Companies selling digital goods are considered high risk merchants accounts by banks. Still, payment processing at attractive rates are readily available to digital merchants.
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