Virtual Entrepreneur opportunities

A Virtual Entrepreneur inside a virtual world

Virtual Entrepreneur

Virtual Entrepreneur

A virtual entrepreneur is represented by an avatar within a virtual world. These avatars are controlled by real life people . This virtual world allows these avatars to meet/interact with other avatars, socialise, participate in individual and group activities, and create and trade virtual property and services with one another. There are many tools and resources available to a virtual entrepreneur for which to create detailed, virtual items. A virtual entrepreneur has the opportunity to sell these items for a virtual currency to other users/avatars. Thereby an exchange system exists coupling the virtual currency on the US-Dollar allowing an exchange in both directions. Virtual banks and stock markets have developed inside some virtual worlds enabling trading with the internal currency. The best known virtual world is currently “Second Life”.

Virtual Entrepreneur opportunities within Second Life

Inside these virtual worlds, a market of digital goods has been created by a community of virtual entrepreneurs on which digital items or services can be traded for real money. A large economic system is now established with an individual virtual entrepreneur trading virtual goods or services for virtual world money. Each virtual entrepreneur can decide to produce things and sell them to others or simply just to consume. The virtual goods and/or services by a virtual entrepreneur, to buy sell rent or trade typically include:

  • Goods: Buildings, vehicles, devices of all kinds, animations, clothing, skin, hair, jewelry, flora and fauna and works of art.
  • Services: Camping, wage labour, business management, entertainment and custom content creation (such as building, texturing, scripting, animating, art direction, and the position of producer/project funder).

 

What virtual worlds the Virtual Entrepreneur occupies

The fact that a virtual entrepreneur exists is due to the coupling of virtual worlds with real money. This presents opportunity to the entrepreneurial-minded opportunist. It is the virtual entrepreneur who steadily builds, develops and promotes these virtual worlds. Some of the most prominent virtual world examples include:

  1. Twinity is the first 3D online virtual world to build true-to-scale replicas of large cities from all over the world.
  2. Smeet creates virtual worlds in which people can meet and interact with their avatars.
  3. SmallWorlds is a virtual world. It has over 6,000,000 registered users. It is commonly also known as ‘SW’
  4. IMVU is a 3D graphical social network that includes instant messaging, games and virtual goods.
  5. Active Worlds (AW) is a 3D virtual reality platform. The Active Worlds client runs on Windows. Users assign themselves a name, log into the Active Worlds universe and explore 3D virtual worlds and environments that other users have built.
  6. Onverse is a free online 3D virtual world, social network and gaming platform.
  7. Kaneva is a 3D Virtual World that supports 2D web browsing, social networking and shared media.
  8. Utherverse Inc. (also known as Utherverse Digital Inc.) is an internet networking company focusing on bringing together Web 2.0 technology, 3D virtual environments and social situations.

 

Virtual Entrepreneur representations

In some Asian countries, the production of virtual world goods, initiated by a virtual entrepreneur, has become a small industry with several hundred jobs. The supplied goods by a typical virtual entrepreneur vary from airplanes or clothes to body parts and self programmed  virtual world games.  The best example of a virtual entrepreneur (within Second Life) is the avatar, Anshe Chung. This is the richest person within Second Life with a fortune of 250,000 dollars. Anshe Chung specialises in designing virtual landscapes, selling them afterwards to paying customers. With this business model, the former teacher in the meantime earns her living. Other pre-existing companies and organisations which utilise the entrepreneurial opportunities within this virtual world include:

  • IBM: Have established and developed their own business models within virtual worlds such as Second Life.
  • Adidas: Have opened virtual shops within second life.
  • World Stock Exchange: This has a virtual securities exchange developed for use in the virtual world of Second Life and allows virtual world companies the ability to raise capital from the global investment market using the in-world fictional Linden currency and the new World Internet Currency(WIC).

 

The business models within these virtual worlds for the virtual entrepreneur are parallel to those in the real world. However, the risk of becoming a virtual entrepreneur is far less within a virtual network. For a virtual entrepreneur, it is a good idea that counts in the first place. The simple tools inside the virtual world provide the implementation.

If you are a virtual entrepreneur and need help and advice with starting a virtual business then contact eCubation today for a FREE consultation.