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State of Second Life economy in 2018 THE BIG PICTURE

Goldtokens Resident Posted by in Announcements - January 27, 2018, 4:30 am

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SECOND LIFE ECONOMY IS VITAL FOR SURVIVAL AND GROWTH OF SL VIRTUAL WORLD

It was stated in 2015 that Second Life GDP totals $500 million and that users of Second Life together cashed out $60 million the year before that.

Health and growth of Second Life economy is based on number of new people creating a Second Life account for the 1st time. Many of new users sooner or later deposit their real money to Second Life (buy L$ to spend) to create their virtual identity (avatars) and become active participants in one or many communities that exist in Second Life. This is good and as long as the total number of new sign ups for SL accounts was growing this was good for everyone in Second Life (for users/avatars, creators, owners of SL Linden Lab).

WHY IS IT BAD IF SL IS ON OVERALL SHRINKING (even if relatively slowly)

The new users combined with the existing users who spend real money for virtual products drive the virtual economy forward. But existing users are prepared to spend only so much of their real money to support their "virtual habits in SL" and the communities they love and participate in. The new users who come into SL fresh are vital for further growth and existence of Second Life.

When the overall number of users is declining this causes the SL economy to shrink and that is very bad for everyone in Second Life and the whole virtual ecosystem that Second Life has. Growing number of virtual content producers in SL are competing to sell their products to always smaller amount of people who have L$ to spend. At critical stage this causes that the people with brain and design talents who together create the Second Life into an amazing creative social innovation, slowly start leaving or are not investing so much of their energy into Second Life that they otherwise would. This makes Second Life worse in time for everyone (it has less culture/musicians, community creators/leaders, artists, scholars, programmers, social innovators, 3D creators all start leaving if there is less and less people that they can perform to, teach, sell to, inspire and make happy or give a sense of purpose).

HOW TO BOOST/FIX THE SECOND LIFE ECONOMY GROWTH

The rate that SL is shrinking at currently is not alarming but overall trend and the fact that it is shrinking instead of growing is very bad and everyone involved in the Second Life ecosystem and especially those that are benefiting from it the most (Linden Lab as owners of SL, content creators, land owners, residents themselves) should invest all the energy and efforts that they can to turn the tide into positive (make the number of overall users of SL to grow again). Only growing numbers of new users can inspire and benefit the whole of SL ecosystem and make everything grow.  

What our games are good for is to quickly integrate every new SL user into a fun gaming experience and a warm welcoming game community (LGH). This is good because when you make good friends in Second Life you will stay in SL for them and much longer than you would otherwise. Another important positive thing for sl economy is that our games put virtual currency L$ into the hands of those that need it the most. For those that are new in SL earning their first L$ to spend is a very big motivation to stay in SL and learn to navigate around Second Life. Our games give new players opportunity to 1st invest their time to earn the L$ and then spend it into Second Life economy to improve their overall experience of Second Life. It also redistributes the L$ from those that have them to those that don't have.... in the big picture this actually benefits those that have L$. We can only hope that a growing number of content creators realize about the big picture of SL economy and if they love Second Life they will contribute by also supporting our growing community LGH and games that give L$ in the hands of many new Second Life users.

"Give a man a L$, and he will spend it in a day. Teach a man to make L$ every day, and he will be shopping for virtual items for a lifetime."

Wili The Frog! \⊙͜o/
Goldtokens.net network of games in SL


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