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 Teaching Money Management through SecondLife

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Date posted: 21/10/2005

US bank Wells Fargo has purchased an island on SecondLife?s world, in an effort to teach the basics of managing money to young people.

In the bank's Stagecoach Island environment, there is an economy with its own currency, which is earned not by slaving away, but by answering questions on financial matters.

A pilot version of Stagecoach Island was launched for young adult Americans in San Diego and Austin at the beginning of October. It will run until mid-November.

As with any virtual environment based on SecondLife, the island is packed with a mix of free activities, and those requiring local currency ? such as clothes stores for your avatars, or entrance to the various clubs.

Wells Fargo's chief marketing officer Sylvia Reynolds said the aim was to reach young people who were leaving home and becoming financially independent for the first time.

She described the environment as a way of educating them in "a highly interactive, comfortable and fun environment".

At least two US business schools are exploring ways of using Second Life - which has 45,000 participants - to help foster their students' entrepreneurial skills.

See the full Story via external site: news.bbc.co.uk

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