Virtual Worlds

China Bans People From Buying Real Goods With Virtual Currency

Jun 29, 2009 6:25 PM

First, China introduced a tax on real-world profits generated from the sale of virtual goods; now, China’s Ministry of Commerce has released its first regulation of virtual currency. The law explicitly bans the use of virtual money to buy real-world goods or services, and restricts minors from buying any virtual…

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Posted In: E-Commerce, Payment Systems, Micropayments, Entertainment, Gaming, Social Media, Virtual Worlds, Countries, Asia, China

Stratim Capital Buys Stake In Linden Lab

Tameka Kee

Jun 18, 2009 5:35 PM

Late stage investment firm Stratim Capital has picked up an undisclosed stake in Second Life parent company Linden Lab—buying out one of the virtual world tech firm’s existing investors. Linden Lab has raised about $19 million in funding since its inception in 1999; investors include Benchmark Capital, Catamount Ventures, Globespan…

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Posted In: Money, M&A & Venture Capital, Venture Capital, Social Media, Virtual Worlds, linden lab, second life, stratim capital

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