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VC expansion into Second Life? February 2, 2007

Posted by fukumimi in VC.
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Well, it was bound to happen.

Japanese VC firm GMO Venture Partners has used its announcement of a Second Life business plan competition (total prizemoney pool 500,000 Linden Dollars) to announce that it intends to create a Second Life fund which may include investments made in Linden Dollars.

There are legal issues to be worked out of course, and the investment being made in Linden Dollars seems to be more a gimmick than anything.

A Japanese enabled version of Second Life is imminent, and with publicity surrounding Second Life increasing, it will no doubt attract attention. The Japanese media is (as always) playing catchup to the US media on its hyping of the Second Life phenomenon. Even after the real (rather than accumulative number of signed up users) usage numbers appeared, the press continues to hype the bigger number. (I’m one of those users who signed up but haven’t logged in for months – to be fair I haven’t dabbled with it enough to pass judgement on the merits of Second Life, but there just wasn’t enough initial stickiness to compel me to return)

Comments»

1. Gen Kanai - February 3, 2007

GMO’s VCs should be reading Clay Shirky before they go much further.

http://many.corante.com/archives/2006/12/12/second_life_what_are_the_real_numbers.php

and

http://many.corante.com/archives/2006/12/26/lindens_second_life_numbers_and_the_presss_desire_to_believe.php

But hey, GMO can spend their cash however they want to. Glad you’re not an LP there…

2. joey - February 5, 2007

It seems like the Second Life hype is sweeping into Japan in conjunction with the Japanese client release. Once people get past the hype, actually use Second Life, and read the links in comment #1, I think there will be a backlash similar to what’s going happening in the English “blogosphere” right now.


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