Space is the name of a new virtual world project I hinted at last month -- a "federation" of virtual worlds, really, developed on Unity 3D, and built to work with VR. Here's the official teaser:

Now launching its pilot program for creators, which offers an App Store-style 70-30 revenue split, Space is actually the relaunch of an existing virtual world, GoJiyo, which reports 1.7 million users, within the broader Space platform. Both are developed by Sine Wave, whose CEO Adam Frisby is a longtime successful virtual world entrepreneur. (Second Life users will remember him as early pioneer Adam Zaius. As you may have guessed, Sine Wave is also the name of his SL animation brand.)

In contrast to Second Life, Adam tells me, "“I think we're a lot more focused on what users do, rather than trying to force everyone into being a creator. So we've made specific functionalities for handling room editing, pets, clothing design, etc. Along with things like quests, activities and rewards - which we're aiming to solve the boredom problem with.”

And yes, it'll be compatible with Oculus Rift, with official support coming in a few weeks. "Realistically," he adds, "I think VR is probably at least 3 years away from prime time - the gear right now is great, but it's very much in enthusiast territory. It looks a bit dorky, you need a very expensive computer, and so forth. But our goal is to be ready for it when it does take off."

For developers, there's a lot more robust tools than Second Life offers developers now -- here's a breakdown: