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Residents may purchase L$ directly through the Second Life viewer, or by logging into the website and using the Lindex Exchange. The ratio of L$ to US$ (L$: US$) is a floating exchange rate depending on supply and demand; Linden Dollars can be purchased and sold on the Lindex at the current market rate, or residents can set their own limit to get a better exchange rate.
Ginko Financial was an alleged Ponzi scheme on the social networking video game Second Life.It offered accounts denominated in Linden Dollars, which would be paid extremely high interest rates (at one point 0.145% per day or 69.7% per year [1]), ostensibly funded by undisclosed investments.
A resident with a surplus of Linden Dollars earned via a Second Life business or experiential play can request to refund their Linden Dollar surplus to PayPal. Linden Lab reports that the Second Life economy generated US$3,596,674 in economic activity during the month of September 2005, [ 49 ] and in September 2006 Second Life was reported to ...
Transactions occurred outside of Second Life on the WSE website. [2] The game initially used the Linden Dollar currency from Second Life and in July 2007 integrated a new virtual currency called the World Internet Currency (WIC, WICS, W$). The WIC currency, similar to the Linden Dollar, could be converted to/from USD.
In her early Second Life days, prior to founding the business that made her famous, Anshe Chung had a goal of using virtual wealth to support an orphaned boy in a developing country in the real world. With her first Linden dollars she was able to sponsor a boy named Geo from the Philippines through a German church organization. [7]
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This can be seen, for example, in Second Life's recognition of intellectual property rights for assets created "in-world" by subscribers, and its laissez-faire policy on the buying and selling of Linden Dollars (the world's official currency) for real money on third party websites.