The virtual world of MMOs is proving to be a profitable investment, and even Harvard Business School is taking notice. The Ivy League institution recently held a panel with six of the industry's most influential members to discuss the status quo, and just as important, the future of the virtual realms in gaming as a business market. Check out what they deem to be the biggest barrier to overcome, and for some more analysis on how money culture is making even the virtual world go spinning 'round.

Kevin Zuccato, head of the Australian High Tech Crime Centre, has claimed that "terrorists can gain training in games such as World of Warcraft in a simulated environment, using weapons that are identical to real-world armaments."

This is following the bomb blast that hit ABC's island in Second Life. It was, however, found out later on that the bombing was a computer server error and that plenty of other islands had the same problem. The media just liked the bomb angle. The idea of virtual terrorists might have pressed a panic button among the higher powers though.

An Australian publication recently claimed that there are indeed active terrorists in the Second Life universe, claiming that they use virtual environments as a training ground for real attacks.

There are [...] weapons armouries in SL where people can get access to guns, including automatic weapons and AK47s. Searches of the SL website show there are three jihadi terrorists registered and two elite jihadist terrorist groups. [...] Once these groups take up residence in SL, it is easy to start spreading propaganda, recruiting and instructing like minds on how to start terrorist cells and carry out jihad.

On the one hand, virtual training might be a possibility. The Wii is being considered right now for specialized training. On the other hand, raiding with battle axes and ominous tomes don't exactly qualify as real-life training. ("I have a Tome and I'm not afraid to use it!")

However, the article did suggest that terrorists can use virtual worlds to their advantage by simulating real life scenarios in Second Life. Though to actually do that online may be a step down for terrorists that are supposedly tech-savvy enough to create an exact replica of their target in a virtual environment.

One of the many gaming myths/urban legends include the existence of Asian MMORPG addicts that sell their bodies for in-game items. Perhaps the most persistent is the one wherein a supposed Korean lady sold herself for a "kitty band" in the Korean servers of the anime influenced Ragnarok Online MMORPG. Westerners are apparently taking notice of similar economic opportunities. Specifically, this particular female player within Blizzard's World of Warcraft. There is a reason after all, why folks call this the oldest profession.

Behold:

 

In light of this, third-world gold-farming, and outsourcing leveling of characters in MMORPGs, we now wonder what other online-world-to-real-world services MMOs could spawn.

Well folks? What other MMO related real-life "businesses" come to mind? A "Will mow your lawn if you help me with that 40 man raid" service? A "Will do your high-school paper for you if you get me to level 70" job? A "Will pay you to help me re-enact a raining of flying vibrators in real life" venture?

The danger here of course, as this mount-seeking WoW lady shows, is that their "creative ventures" could endanger players who are deemed by society to be not "mature enough". As it is now, there seems to be no limit to the weirdness that is possible online. Linden Lab's Second Life for example, seems to be the leading force when it comes to online representation of the need for human freakishness. (Imagine public copulation between human avatars and imaginary 3D cats.)

Moreover, given that the tendency of folks to use any medium that allows them to communicate as an avenue for perversion, attracts undeserved scrutiny from concerned moral leaders/zealots/protectors, this might be a cause of worry for those whose main goal is to just enjoy playing MMORPGs. The console playing folks are already getting headaches from proposed laws from moral crusaders; MMO gamers definitely won't appreciate the politics that follows.

Sigh.

Well, what's your take on this?

The featured screenshot of the mount seeking WoW addict was made famous on Digg around a day ago. We sincerely hope that this is just a gag and is fake. Otherwise, it's just plain sad ...or cool, depending on your tastes, your age, your values, and the amount of money you have in your wallet.

  

Dan Miller is one cool dude. Read on, and find out why.

Business journalist H.S. Ayoub recently submitted to Internet Stock blog SeekingAlpha a write-up on his experiences in Linden Lab's Second Life. Obviously the fellow focused more on the business aspects of the metaverse. He covered the recent activities of Cisco Systems, IBM, American Apparel, and Toyota within the virtual world.

What's noteworthy though about his report is his input on government – to be specific, the Joint Economic Committee of the U.S. Congress - plans to start taxing transactions taking place within Second Life.  Ayoub takes time to note Dan Miller's view on the subject. Ayoub writes:

While the flurry of activity and monetary spending can attract the attention of businesses, it can also attract the government. The Joint Economic Committee of the U.S. Congress is taking a hard look at the possibility of taxing income derived from virtual online worlds. But the general consensus is against any taxation at this time. The blogging community immediately condemned the committee's announcement last year, and Dan Miller, senior economist on the committee, agrees.

He believes that a realistic attempt at taxing virtual transactions could prove very difficult. It would place too much pressure on virtual administrators, such as Linden Lab, to keep tabs on the millions of transactions and player activities that occur every day. This, Miller believes, could slow down the impressive innovation taking place. It is not surprising to learn that the 64 year-old Miller is an avid World of Warcraft fan, and player!

Great, the great online businesses on Second Life, indirectly defended from taxation by a World of Warcraft player. The amazing teh internetz is. Amazing.