Huge online world Second Life goes open source, with the client being released under the GNU GPL version 2.

Stepping up the development of the Second Life Grid to everyone interested, I am proud to announce the availability of the Second Life client source code for you to download, inspect, compile, modify, and use within the guidelines of the GNU GPL version 2.

Over at the official Linden blog, there are comparisons with the open sourcing of Netscape Communicator, which lead to Firefox, Thunderbird and other projects under the Mozilla banner.

What will this do to Second Life, an economy on its own already? I have no idea, but it can only be glorious days ahead for Linden Labs.