Booming up the virtual estates in Second Life

Posted Apr 8, 2007 at 10:04PM EST by Mabie A.

Listed in: Titles, News Tags: Gabetti, Italy, Linden Lab

The virtual world of Linden Lab's Second Life extends its grasp on the real world through its growing real estate industry. The newly-opened Gabetti Island is actually being handled by The Bright Five, the real estate team responsible for the Second Life account. Basically then, Gabetti is in the business of buying, selling, acquiring and developing virtual land and buildings.

How real are they as to this virtual real estate business? Pretty real, we can assure you. With five stay-home agents, Gabetti, in real world, is actually one of the more prominent real estate firms in Italy. And the investment they have entered in Second Life is definitely as real as it gets, with about Â€ 100,000 (US$ 130,000) in the bank for the project.

The Bright Five team is planning to sell lands and houses in SL for an average of Â€ 100 (US$ 130). Says Project Manager Matteo Quadrifoglio, "We will have return on investment, absolutely. We expect to break even at the end of 2007."

Being new to the virtual industry, it is thus expected that they will only be learning the ropes now. The only marketing tool they have for now would be their short promotional movie, that is up on the sim's headquarters office. Continues Quadrifoglio, "We do not transfer our Real Life business model to Second Life. We are starting small, we have to learn. Competition [in real estate] is tough, so we bring Real Life expertise to the really big world of Second Life."

Via SLNN

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Booming up the virtual estates in Second Life

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