Edelman to Fund a Second Life Business

We've been largely quiet on our Second Life plans, but my colleagues in the me2revolution team at Edelman have been hard at work at a couple of innovative initiatives. We're ready to lift the curtain on these. You'll notice a common thread that runs through both programs. They add value to the community by helping residents achieve their dreams - at least as best we can!

The first initiative is in conjunction with our friends at the Electric Sheep Company. They've designed some of the most outstanding SL programs to date. Together we're launching a competition searching for the best Second Life business plan. The prize - seed funding - will be awarded next year. The competition kicks off with a special panel event this Friday on, yes, our own island. Here's a shot of it...

That's not all, however. Coming soon is The Grid Review, a video blog that will come to you in machinima format. It will cover the entrepreneurial spirit inside Second Life. Electric Sheep and Edelman will co-create this not alone but with you - video citizen journalists. Submissions are welcome. The 3PointD blog - one of the best covering SL - will also serve as a key advisor. I too may even get to contribute.

Anyway, we're really excited about these programs. No doubt it's still the first inning in the metaverse. The audiences are not giant yet. But Second Life is all about co-creation. It's about using it as an environment to interact and create greater good together. Our hope is that these programs help. As always, we're eager to hear your feedback.

Comments

[Taran Rampersad]

Hmm. Well, Electric Sheep Company is under fire right now by some; something about the Lindens giving them early access to an API while open source developers are trying to reverse engineer it. You can reference it here: http://www.secondlifeherald.com/slh/2006/11/is_linden_lab_s.html

I'm not involved, but I must admit it does sound a little hokey. SO... that should probably be addressed somehow before Friday.

You may also want to post a SLURL before the even (http://www.slurl.com ).

[Ed Lee]

just in time Steve! Wasn't it just last week when SL-ers declared PRs personi non grata?

Ed

[Brad Dickason]

I know that you constantly gush over Second Life, Steve, but I'm not sure that I believe the hype. Sure, it's a great way to monetize the whole virtual world model from a community sense but is the investment really paying off? Look at the amount of effort that could go into a marketing campaign in WoW, for example, which already sees at least ten times as many eyeballs daily and is still growing. Why not jump in there?

The market for online game advertising is huge, as demonstrated by efforts from horribly bloated companies like Massive, so it strikes me as odd to reach out to such a small sector with your initial push. Is there a reason beyond the basic ability to customize your own space to push into Second Life rather than any of the big MMO's around?

[Eric Rice]

The small sector is a great testbed for the wider market. Business plans in a virtual space can scale possibly to the evolution of MMO like functionality that may appear in the existing gamespace.

The eSheep are good guides, but it's important that people like Steve and others from Edelman show up and experience it.

You don't master anything by reading, you master by doing.

[Andrew]

Good stuff, Steve. Refreshing to see interactive, community-oriented initiatives vs. some of the more static brand displays that have been popping up in SL as of late.

[Amanda Chapel]

"Helping residents achieve their dreams"! Steve, what medications are you on?

The competition is pure-dee promotional nonsense.

The actually value of the prize your sheepish pals claim is $3,500. By my calculations that’s inflated by about $1,000. But nonetheless, $3,500 to launch a business within a proprietary model in 6 months??!!! Sounds more like a guaranteed date with futility than a prize. There was more value in writing the rules and brewing the scheme you silly goose.

Anyway, this is another exercise in Edelman’s MO, i.e. buying its way into the next thing. Look at Technorati, WOMMA, even Micro Persuasion. Now it’s SL. But frankly, Edelman kinda has the anti-Midas touch lately doesn’t it. Any guesses as to how it will work out?

- Amanda

[alan herrell - the head lemur]

So, you guys are getting your asses handed to you out here, so you figure that you can start a new PR cult in a computer game?

Very Very Pathetic.

[Russell Page]

What is the big deal with Second Life? Seems pretty geekish to me.

[EvansMom Goodspeed]

Hi Steve:

Your plans sound swell, just like all the other forays into SL, like Nissan, Toyota, Reuters, CNet and the like. But it raises a few questions:

1. How are you promoting this in-world? I just searched the events list. Didn't find anything. Maybe I used the wrong search terms. If I were a dedicated SL'er with a thriving business but not plugged into an out-world news source, I probably wouldn't see it.

2. How are you going to avoid Ain't-It-Cool Syndrome? I was at the crayon launch. Saw a bunch of guys wearing crayon T-shirts (got one of my own, too) standing around congratulating themselves. But not much happening on the sim after that.

3. What are you doing to promote post-event interaction in-world? This also is missing from the cool new sims. You're all isolated on

Here's an idea: Residents are desperate for money, whether they're new or veterans. Buy a bunch of lindens, pay residents a little better than camping-chair rate ($5-$10) to staff the sim or promote it to their friends. Win friends, influence people and help the SL economy all at once.

IM me the next time you're in-world, and I'll TP you to the place where I hang out and listen and learn. I'll be wearing my crayon T-shirt.

[lanny heaney]

That's agood ideal,so great...