VIRTUAL WORLDS CURRENCIES
Definition of Linden Dollar
A digital currency utilized in the virtual world Second Life.
Second Life was developed by Linden Lab and was launched in june 2003.
Users of the grid are called residents and they interact with other users through avatars.
Residents can travel around the virtual world (inworld) socialize and participate in activities.
In addition, residents can create and trade virtual property and / or services with other residents.
The purpose behind Second Life is to allow users to become immersed in a virtual world
through a user-created community-driven experience.
Economy of Linden Dollar
Linden dollars (L $) can be used to buy,sell, rent or trade land, goods and services.
Goods include cars,clothing,jewelry and buildings.
Services include vendors entertainment,camping and wage labor.
Linden dollars fluctuate in value against the U.S. dollar.
Linden dollars can be bought using U.S. dollars (mainly via credit card) through The Lindex
The virtual economy reportedly has over a million active users.
Bitcoin is an innovative payment network & a new kind of money.
Bitcoin uses peer - to peer technology to operate with no central authority or banks;
managing transactions and the issuing of bitcoins is carried out collectively by the network.
Bitcoin is open source; its design is public, nobody owns or controls bitcoin & everyone
can take part.
Through many of its unique properties, bitcoin allows exciting uses that could not be covered
by any previous payment system.
OPEN METAVERSE CURRENCY (OMC)
What is the Open Metaverse Currency (OMC)?
The Open Metaverse Currency is a virtual currency.
Its currency is the Open Metaverse Cent (OMc)
It is used to buy or sell virtual goods or services in open sim worlds
Unlike other virtual currencies it is accepted in a number of such worlds.
not just one.
Specifically, it is compatible with the Open Sim Hypergrid.
This means you can go shopping with your avatar in any of the OMC
enabled grids and pay in a single virtual currency from a single account.
And if you run a business in one of those grids, you can receive OMC from
users all around the hypergrid.
Payments made in OMC are free of charge for both the sender & recipient.
Your virtual money is not really transferred between the OpenSim servers
(which should not be considered a safe environment)
Instead, it is kept secretly in your VirWox account, and every payment made
in the virtual grid has to be authorized on our secure website with your
username and password.
Please be careful to choose a strong password and make sure that you enter
it only on the VirWox website.
The website also offers detailed reporting of payments sent and received.
If you use multiple identities (alts/avatars) you will need seperate VirWox
accounts for them, but it is easy and free to send OMC from one account
Exchange in other currencies
OMC can be bought or sold for real world currencies such as Euro and USD.
It is also possible to directly exchange Second Life Linden Dollars (L $)
for OMC and vice versa.