The WSE is a virtual trading platform based in the world of Second Life. Traders can buy and sell stocks of the fictional companies listed in Second Life on the exchange. Fees are only taken when a stock is sold (3%). I’ve been following this development for 2 years now and been heavily involved in one of the companies I have quite a large stake in.
Ford Edelman Designs or FED as it is known on the exchange is run by a soldier in the US Army. He has created some of the funnest games in Second Life and I am currently the largest shareholder. While he has been away serving a tour of duty in Iraq, the reigns have been held by Ashley Wade and he has done a fine job.
I expect good things to come of the exchange as it re-opens and if you are a novice investor, trying your hand at the WSE may provide the confidence you need to trade on the NYSE or AMEX stock exchanges. The currency of the WSE is the World Internet Currency or the Linden (Second Life’s currency). Users open an account at the WSE and then deposit their Lindens or WIC currency to begin trading. Trading can be done online through the website at https://www.wselive.com/ or via the World Stock Exchange in Second Life.
Lindens have an exchange rate with the US Dollar which makes trading stocks in SL fun. You can eventually withdraw your money from the exchange and spend your gains in the virtual world or withdraw them at the current rate for cash.
Trading begins August 3rd.
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