Cyber boom – social networking online gold rush

The new gold rush is on, but it’s no longer to the hills of Ballarat or California that people are flocking. Instead, it’s to the new frontiers of virtual cyberspace worlds where people are heading in their droves, eager to be among the first to snag themselves some land and set up shop.And it’s not just Monopoly money they’re playing with. The virtual world of Second Life (, which has almost 9 million “residents”, turned over more than 12.5 million Linden dollars during July – cash that can be transferred into real-world bank accounts at a floating exchange rate of about 265 Linden dollars for $US1.

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