Linden Lab, creator of the virtual world Second Life, announced a key milestone in its expansion of the Second Life platform by acquiring two web-based marketplaces for virtual goods, Xstreet SL and OnRez.
These acquisitions join several other recent strategic initiatives, including enhancements to the experience for new users, which will enable Linden Lab to reach a broader global audience for Second Life in 2009. Linden Lab is consolidating the two marketplaces on the Xstreet SL platform, offering one online shopping experience for customers and merchants. This will make it easier for Second Life residents to find virtual goods to purchase and will provide merchants broader channels to sell their products.
In 2008, Residents of Second Life purchased and sold more than USD $360 million of virtual goods and services. Shopping for virtual goods has become one of the most compelling and popular aspects of the Second Life experience. The acquisition of these e-commerce sites will aid the continuing growth of the Second Life economy by making it even more convenient for buyers and sellers to transact virtual goods and services online.