Well, it certainly raises some in my mind.

earn2life.com, one of a number of such ‘get Linden Dollars for completing surveys’ Web-sites that I’ve seen over the years, has raised IPO funds through the Second Life Capital Exchange (SLCapEx, or just CapEx).

US-based service CapEx describes itself thusly: “Capital Exchange (CapEx) is a fictional stock market simulation game operating for entertainment and educational purposes only.” and “To be very clear, Capital Exchange is not a real-world stock exchange and does not offer opportunity for direct real-world investment or profit. Shares purchased on this stock exchange simulation game do not entitle you to any legal real-world rights to a listed virtual company. Please play accordingly!” – From the CapEx Web-site. Emphasis is mine.

Got all that?

Russian Second Life user Glaznah Gassner, owner/operator of earn2life has just received roughly fourteen and a half-thousand dollars of … err … “entertainment and education” as more than 200 investors stumped up funds for his business’ IPO.

That’s 3.75 million Linden Dollars with which he could buy some very real groceries, make mortgage payments, convert to any national currency, pay for his Web-hosting, or just blow on beer and books.

In return, Gassner has committed to paying 70% of the site profits to the couple of hundred investors. Those dividends could then be spent on digital or physical goods and/or services.

Forgive me if that doesn’t sound particularly fictional to me. A fictional exchange would imply no transfer of value, and value is clearly being exchanged. Indeed, CapEx exists because of that trade.

Fictional it isn’t. No more fictional than any other stock market, which trade in all manner of virtuals and intangibles as a matter-of-course. In fact, this looks a lot like trade in unregistered securities, which is generally considered quite naughty whether it is being done in US Dollars or convertible MoonBux.

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Tags: earn2life.com, Glaznah Gassner, IPO, Linden Dollar, Opinion, Russia, Second Life, SL CapEx, US Dollar, USA, Virtual Environments and Virtual Worlds