Real World Transactions Using Virtual Currency

“. . . The Virtual Goods Summit is a one day conference focused on the emerging market opportunity for virtual goods and economies. Once restricted to the world of online gaming, virtual goods and currencies are beginning to influence the development of social networks, community sites, and many other new and exciting markets. . . .” From Virtual Goods Summit 2007.
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“. . . Citizens within the virtual world of Second Life will be able to teleport to an in-world pizza restaurant and order their favorite pizza from their favorite national or local pizza chain. But the magic doesn’t stop there with the use of Dynamedia is releasing VirtuReal a revolutionary way for Second Life Citizens to use their Linden Dollars to purchase real world goods. They will be able to purchase real world pizza with their in world Linden Dollars. That’s right virtual world currencies used to purchase real world food. . . .” From Pizza enters the Virtual World of Second Life.
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“. . . A couple of weeks ago it was reported (via PlayNoEvil) that China aims to restrict the trading of virtual currencies that have become popular as a payment method even for third-party services. According to the joint announcement of 14 Chinese government agencies including the Ministry of Public Security and People's Bank of China, virtual currencies should not be used to buy real commodities and can only be traded back to real money for amounts not exceeding the original purchase price, eliminating any opportunity for profits. . . .” From Government rumbles, Chinese virtual money markets stable for now. More here.