Banking Crisis Spreads to Second Life Virtual World
Stephen Hutcheon writes that Jitters in Second Life as bank shuts doors. Is this art imitating life?
[tease]
The biggest bank in the virtual world of Second Life has closed its doors after a run on its deposits, putting at risk hundred of thousands of real dollars of savings and investments.
On Thursday, Ginko Financial - which is owned by Brazilian from Sao Paulo whose real name is Andre Sanchez - stopped accepting deposits, froze all withdrawals and converted account holders’ balances into “tradeable debt securities” called Ginko Perpetual Bonds.