Here's an interesting real world application for Second Life: Leveraging the extremely international character of SL's user community, a real world software developer named Max Klein recently hired some Residents to translate 200 documents, which would probably cost upwards of $9000, had he hired a real world translation service. However, the virtual economy has its own logic:
Second life is filled with people who want Linden Dollars. They come from all over the world, and for them it’s just a game. They will willingly spend 30 minutes to translate the article for you for 20 cents, which is 50 Linden Dollars. For that, they can get accessories, funiture, clothes etc. within the game.
Instead of $9000, his total cost came to less than $50. In effect, he used the Second Life economy like Mechanical Turk, Amazon's crowdsourcing service. I'm surprised more people haven't done this. (Crowdflower, a crowdsourcing startup, has done a similar project with a social gaming company.) There's probablya huge opportunity to create a Second Life Turk, a management service connecting SL workers to real world work projects. Read the rest here, including an interesting conversation thread on the ethics and feasibility of the project.
Hat tip: Kimberly Rufer-Bach.