Economic Trouble in First Life

2007:

The popularity of Second Life grows. The virtual world is not only the place for social interaction and mean of entertainment; it becomes serious platform for e-commerce, e-learning and e-governments. World wide known companies like Apple, Reebok or ABN Amro open their services in this 3D environment. Second Life becomes main source of income for many freelancers. The tax free economy is blooming giving birth to first millionaires.
Being part of the digital environment also Second Life is not free of cyber crime. After short close down caused by a worm attack called “grey goo” (which installs spinning objects in the virtual world that slows the servers as users try to interact with them) Linden Labs is faced with CopyBot. This new program enables users to quickly copy characters, objects, and buildings, potentially eroding the value of people's virtual property. First trials concerning copy rights and property ownership issues follow. As a respond Linden Lab publishes the blacklist and several users are banned from virtual world. In the meanwhile, a group calling themselves the "Second Life Liberation Army" (SLLA,) stages the first online terrorist attack. Linden Lab receives several complains about the growing menace of mafias and gangs that are forcing members out of public areas. Users become more and more annoyed by the Linden Lab reluctance to take any legal action against cyber criminals or involve in dispute resolution.

2008: Slowdown

Economy goes up slower

2009: Growth halted

Economy growth halted

2010: Crash!

Depression

2011: Instability

Economy crash

2012: Nuked

Linden Lab closes